According to local reports in Japan, Mikan Co. Ltd., creators of the Mikan English language application recently announced the launch of a crypto wallet. This is just the beta version of the wallet, which will use Bitcoin Cash (BCH) only and available as a mobile wallet for iOS and Android.
The App’s Release
Mikan says they plan to launch the Yenom Bitcoin Cash Wallet in late March. The company was established in 2014 and is well-known for its app that teaches Japanese people English words. Since it was first released, the application has thus far earned over 2 million downloads. Pre-registration for the Yenom Bitcoin Cash wallet has already begun. The company is planning to invite users to test the beta platform of the wallet.
According to the press release by Mikan, the company believes Bitcoin should be part of the lives of ordinary people. The developers of the platform hope that the application will be easy to understand and easy to use when compared to existing apps. The aim of the launch according to Mikan is to make it as easy as possible to use Bitcoin.
Changing The Existing Money Structure
According to Mikan, the Yenom Bitcoin Cash Wallet is designed to work with Bitcoin Cash. Besides that, they explained why they settled on this name Yenom. The word Yenom is actually Money written upside down. There is a reason why they chose this, and they explained it in the press release.
For Mikan, this launch of a wallet represents their intention to turn over the existing money structure. According to Mikan, while the current virtual currency industry is existing, most crypto is currently traded for the purposes of speculation.
However, the company believes that there is a great potential for the use of Bitcoin as a currency. The Mikan Company believes that it will one day be possible for crypto to become as common as fiat currency. For Mikan, the aim is to make Bitcoin as part of everyday life as electricity, water, and the internet.
The Implications Of Yenom Bitcoin Cash Wallet
This project is no doubt going to succeed. Today, various retailers in Japan already accept Bitcoin and Bitcoin Cash as a means of payment. Unlike some of its neighbors, the country has been quite open to the idea of crypto. For instance, China has already stifled all digital coin activity within its borders. Major exchanges were forced to close shop and move to other countries.
Mikan recognizes that Bitcoin and other digital currencies are used mainly for the purposes of speculation. However, part of the reason is that using crypto can be quite complex. Unlike using a credit card or debit card, you usually have to go through various steps to make a payment.
However, if Mikan manages to come up with a wallet that makes it easy to pay in Bitcoin Cash, it could help to end the speculation around crypto. People could start viewing it like any other fiat currency and use it as fiat.