Coram's Sullivan: J Coin is step in the right direction for Japan

Having been to Japan a handful of times, what strikes me most is the juxtaposition of the latest technology paired with old habits.

It is said that Japan's acceptance of the latest technologies is up to ten years behind that of other developed economies.  Remarkably, 70% of spend in Japan is still done using cash, higher than any other developed country, where the average figure is closer to 30%. So I was surprised to read the banks, with the support of the Bank of Japan and the regulator, have come up with the concept of the 'J Coin' to rival other cryptocurrencies and streamline payment systems. The currency will be pegged to the yen and used to make payments via mobile phone apps. Japanese valuations remain ...