How "Japan's First Token" Breaks Geographical Boundaries

Hara, the founder and CEO of Janction, has become an important figure in the Japanese cryptocurrency industry. Although he accumulated rich experience in the accounting industry, what truly made him feel the "crossing" was his involvement in the Jasmy project.

As a traditional finance professional, Hara faced skepticism about blockchain technology. In 2016, Jasmy was still an IoT device development company, and it wasn't until the end of 2017 that they decided to venture into the blockchain industry. Hara spent a significant amount of time researching ICOs and the cryptocurrency market, proposing the idea of making decentralized identity and data applications the core of the Token economy. This experience, filled with exploration and trial and error, became his valuable asset.

For Hara and Janction, "innovation realization" and "talent cultivation" are two key issues. Hara sees the enormous potential of AI and has decided to venture into this field. Janction's core business is building Layer 2 platforms, providing GPU computing resources and data storage solutions, offering technical support to academic institutions and startups to help develop large language models.

Hara believes that AI and blockchain have a natural connection in terms of data storage and computing power. By building GPU nodes and Layer 2 technology, a powerful platform is provided for researchers and developers, accelerating the research and development of AI technology. Currently, about 4000 nodes have been deployed, and there are plans to provide computing resources to academic institutions.

Barriers in the Japanese Community: Dual Challenges of Culture and Regulation

The Japanese blockchain market faces significant barriers. Although Japan is one of the world's advanced technology markets, there are still issues with the acceptance of blockchain and the regulatory environment. The regulatory policies in the DeFi sector are relatively conservative, making it difficult for projects to take root and flourish in Japan, and DEXs are even banned. This is not only a policy obstacle but also reflects the limitations of society's understanding of blockchain technology.

Hara repeatedly contemplated this issue during the entrepreneurial process. When he joined Jasmy as CFO in 2018, he realized that in order to scale the project, it was necessary to transcend the limitations of the Japanese market and go global. Many blockchain projects from South Korea and China often face language and cultural barriers when entering the Japanese market, making communication and cooperation difficult, especially when there is a lack of localized teams.

Hara pointed out that excessive reliance on the Japanese market may bring potential limitations. Jasmy chose to start with overseas markets because although the Japanese market is large, its openness is relatively small; internationalization is the future.

The talent issue is also a major challenge. Blockchain engineers are scarce in Japan, especially those proficient in large-scale projects. Janction recruits engineers globally and has formed an international technical team, bringing significant advantages.

Japan's acceptance of cryptocurrency has gradually increased, but most projects are still limited to small-scale experimental applications, lacking innovation and breakthroughs. Overseas projects often encounter language and cultural barriers when entering the Japanese market. However, for overseas companies that can find localized teams, there are still opportunities to collaborate with large Japanese enterprises, though it requires more patience and time.

Blockchain Idealism and Memes: Cultural Phenomenon or Market Bubble?

Hara analyzed two forces in the blockchain industry: blockchain idealism and the meme coin phenomenon. He firmly believes that the potential of blockchain technology lies in decentralization, data sovereignty, and transparency, rather than just transactions or speculation. He argues that truly valuable blockchain projects should provide long-term benefits to users, rather than short-term speculation.

The meme coin phenomenon has become a unique cultural phenomenon, leaving many industry professionals focused on technological innovation feeling confused. Hara believes that meme coins help ordinary investors understand blockchain better, but they do not represent sustainable projects. He points out that while certain meme coins can quickly bring profits, they lack practical application scenarios and are difficult to support real value in the long term.

Hara's view on meme coins is complex. He believes that meme coins can attract investors and create short-term wealth effects, but in the long run, they may have a negative impact on the industry. Personally, he does not invest in meme coins because they lack real technological innovation. However, he also acknowledges that meme coins serve a certain social experimental role, revealing the market's understanding and misunderstanding of blockchain technology.

For Hara, the idealism of blockchain should not stop at pursuing short-term profits, but should focus on the technology and applications that solve real-world problems. He is more concerned with how to leverage blockchain technology to bring innovation to the Internet of Things and data management, rather than relying on speculative market trends.