The Japan Blockchain Association (JBA) holds regular study sessions on blockchain on the second and fourth Tuesdays of each month. On March 24, the regular meeting was held online for the first time using Zoom's web video conferencing in preparation for the spread of the new coronavirus.
At this regular meeting, Mr. Tomohiro Tagami, CEO of techtec, which operates the online learning service “ PoL '' of virtual currency and blockchain, will be invited as a lecturer, “ Using blockchain in education field and new coronavirus Influence on the accompanying industry ".
In his talk, he will talk about the company's response to the spread of the new coronavirus from the introduction of its PoL service. He also talked about the overall situation of the blockchain industry, focusing on the topic of blockchain utilization in the education field in which Mr. Tagami was involved.
techtec's main business is running the online learning service "PoL". The company has a variety of businesses, including alliances with overseas operators and overseas expansion, such as collaboration with Brave Software, which develops the open source browser "Brave", and co-production of a learning curriculum with Kyber Network. Currently, the number of global partners is increasing.
The company is also working with the Ministry of Economy, Trade and Industry on research into the use of blockchain in the fields of degrees, course histories and research data. With the Ministry of Agriculture, Forestry and Fisheries, study sessions will be held on the theme of primary industries and blockchains. The Cabinet Secretariat's IT Strategy Office has been actively involved in coordinating with the government, including participating as an expert in the relevant ministries' liaison meetings.
In addition, Mr. Tagami personally participates in many seminars and exchanges information at blockchain conferences held overseas, etc., and also performs a wide range of activities such as speaking on his own. I'm familiar with it.
About online learning service "PoL"
PoL is a learning service specialized in blockchain. A curriculum on virtual currencies and their taxes, blockchain technology and its use cases is prepared, and each can be learned for free. In addition, as a paid curriculum, we also offer English learning courses specialized in blockchain, writer training courses, and business courses. At the moment, the curriculum is rich with 114 lessons.
PoL is also preparing an enterprise version for enterprises and has started accepting pre-registrations. The content will be supported non-stop from the planning, development and operation of new businesses. In addition to improving the internal learning environment of the company that introduced the enterprise version, it will be a service that can answer Q & A, take paid curriculum English courses, take writer training courses, and also hold offline study sessions.
In response to the spread of the new coronavirus infection, the company launched a free PoL learning curriculum in response to the government's request for temporary closure of elementary and junior high schools. Until March 31, all families with elementary, junior high and high school students were offered free cryptocurrency courses, blockchain courses, blockchain application courses, and some of the writer courses.
The company also held online study sessions aimed at obtaining learning opportunities for elementary, middle and high school students, reducing the burden on parents, and increasing awareness of blockchain and IT and finance among young people. Approximately 40 students, from elementary school first grade to sixth grade, participated in the study session held for parents and children. In the Q & A of the study session, it was said that there were questions like adults, such as "Is virtual currency functioning as a currency even though it is a currency?"
Impact on crypto assets
Mr. Tagami continued on the impact of the spread of the new coronavirus on crypto assets. First, Bitcoin's price collapsed as dragged by the stock market crash in the United States. The reaction of the Bitcoin market was easy to understand.
Ethereum then reports that the opposite "more stupid theory" has increased selling pressure and led to transaction jams. By the way, “more ridiculous theory” means that even if you buy a financial instrument such as a stock or a cryptocurrency at a high price, you can expect to sell it to “more ridiculous investors” who will buy it at a higher price. It's a good theory. This time, it is said that "more stupid theory" worked in the sales direction.
He also talked about the impact on stable coins. Ethereum's decentralized financial project MakerDAO's stablecoin DAI (1DAI = 1 USD) maintains its price with Ethereum and other tokens as collateral, but Keeper does not operate properly due to the effects of Ethereum's transaction clogging, DAI could not reflect the real-time price of Ethereum. Normally, at MakerDAO, when the price of Ethereum fluctuates, the BOT called Keeper will settle the collateral through arbitrage so that the value of the stable coin DAI is equal to 1 dollar, but the decline is more than expected The smart contract was temporarily inactive, resulting in a $ 4 million loss.
Mr. Tagami is irrelevant to the new coronavirus response, but at the same time, an arbitrage (arbitrage) case in which one person operated a price with a hole in the smart contract system that occurred in the DeFi lending service "bZx" the other day Touched. Details will be omitted, but smart contracts in DeFi, which do not have a centralized person in charge, could possibly happen in the future, and who will fill that gap (who will be responsible). The ongoing discussion was reported as a major issue.
As a Bitcoin episode, Mr. Tagami can trust which of the five types of financial assets in the financial market collapsed by the spread of the new coronavirus, as studied by a research company called iTrustCapital in the United States. The results of the questionnaire were introduced.
As a result, 32.14% said they trust gold, 28.33% cash, 18.81% US Treasury, 13.57% equity, and Bitcoin at the bottom of 7.1%. This is after the global financial market crashed due to the spread of the new coronavirus, but it is interesting that as of February 2020, Bitcoin was the second most reliable asset after gold.
Use of blockchain in education
Before discussing the use of blockchain in education, Mr. Tagami explained at the beginning why education requires blockchain.
First of all, this is an issue for which research is being conducted with the Ministry of Economy, Trade and Industry, but he pointed out that fraud in degree and research data has become an international problem. When an international student arrives in Japan, the student may falsify and submit a degree from a university they are not enrolled in, or even in Japan, data and author names may be altered and published by publishers before the paper appears. There are quite a few cases. These problems can be solved by managing the data with a blockchain.
The second reason is that the cost of confirming the human resources department in the education sector is growing. The blockchain can be expected to reduce unnecessary verification costs in systems that do not assume degree misrepresentation. In the past, he had to call overseas universities to check his / her degree.
The following example is not an issue, but techtec considers the negative effects of an educated society. Mr. Tagami said that realizing a learning-based society in which learning outcomes can be correctly evaluated, such as how they learned and what they gained as skills, will not be a society that is evaluated solely based on their educational background, but will lead to desirable evaluations. Tagami emphasized that these are brought about by the learning process and the skills gained by the blockchain.
Mr. Tagami provided specific use cases in the materials on how to use blockchain in the education field.
We also share the process of recording on the blockchain. He also introduced how blockchain is used.
Overseas blockchain investment
It also summarizes blockchain technology and overseas investment in companies. All of these are published by Mr. Tagami as materials, so please read them for details.
By the way, it introduces major blockchain funds in the United States, Singapore and China. It also outlines ICO, IEO and STO as investment methods, features and issues.
Mr. Taue reports that his interest in blockchain overseas and the degree of excitement of investment can be seen from the substantial amount of materials, but why the investment in blockchain in Japan is not good enough. I have.
First, blockchains are not being considered for investment because investors have little knowledge in the first place (compared to overseas volumes). In Japan, the number of investment targets and EXIT cases (success cases) are small, so it seems that investment methods in the seed period do not apply. With few successful cases, it is difficult to create a profit and loss statement as a business, so the market capitalization does not increase. As a result, it is difficult to invest. However, they are in the same situation worldwide and under the same conditions. Nevertheless, Mr. Tagami also pointed out that especially in China, government-affiliated money is actively intervening and investing.
In addition, in Japan, regulations on investment in crypto assets are unclear by law, so there are circumstances in which funds cannot be set up in Japan. Since there are no funds in Japan, there is no window for foreign money, and as a result, foreign capital has not been attracted. Mr. Tagami concluded that there were no domestic laws and ventures were not fostered because there were no domestic laws.
Finally, Mr. Taue, from the position of participating in the liaison meeting of the relevant ministries in the Cabinet Secretariat IT Strategy Office as an expert, touched on the opinions and proposals of the expert at the meeting and reported it for reference.
First, concerns about the cost of introducing blockchain into existing systems. They state that it is not practical to replace Japan's legacy system with drastic. On the other hand, it is necessary for decision makers of companies to understand the specifics firmly and to proceed with consideration from a long-term perspective.
In addition, there is a concern about the operation when blockchain is introduced into the administrative system, and there is a problem of what to do if erroneous information is recorded on the blockchain due to human error, etc. He concluded that there was a need to be able to do so.
When it comes to why blockchain needs to be introduced, he clearly states that it is not a matter of having to do it in the first place. However, he stated that there was a clear problem that the enormous operation costs that would otherwise be incurred should be solved. Mr. Tagami's lecture gave the impression that the use cases of blockchain were gradually but gradually expanded.