Before Google really monopolised the way we search the web, we used to access a whole host of internet search engines, allowing instant information to be on hand, 24 hours a day, 7 days a week. Yes, these search engines still exist but let’s face it, Google is the go-to choice for the majority of internet users.
Yahoo, back in the day was seen as a serious contender for both Google and Google Mail however as time continued and Google took over, Yahoo were seen to be taking a little bit of a backseat.
Breaking news this week from the Nikkei Asian Review suggests that Yahoo Japan is going to be building their own cryptocurrency exchange, after bidding for a 40% share in the BitARG Exchange, Tokyo. BitARG is already a credited financial regulator in Japan, with the 40% share expected to move over to Yahoo’s control in early 2019.
You might argue that this is a precautionary move for Yahoo Japan, maybe they are testing the water to see if engaging in a cryptocurrency exchange can bolster their reputation, however, according to Nikkei, the bid from Yahoo Japan is estimated to be valued around at around $19 Million. Quite the sturdy investment overall so it does look like Yahoo Japan mean business here, this isn’t just a test drive, they have quite big ideas in mind.
With this, Yahoo Japan is expected to run a major redesign in how BitARG operates, making it more suitable for corporate use, easier to use for the general consumer and of course more secure.
At present, a number of cryptocurrency exchanges in Japan are under the wraps of long-term bans issued by the Financial Services Agency for their involvement in the $533 million hack of Japanese exchange, Coincheck back in January.
This is a smart move from Yahoo, with competition down and interest in cryptocurrency trading on the rise, maybe their new involvement will spring the brand back to life, injecting it back into 2018 by providing a vital online service.
Featured Image Source: The Blue Diamond Gallery – Great Photo By Nick Youngson