Hitachi Solutions will be the first company in Japan permitted to conduct sales of blockchain software technology company ConsenSys’ product PegaSys Plus starting on April 1.

According to a March 30 press release, Tokyo-based Hitachi announced it would work in collaboration with U.S.-based ConsenSys to provide PegaSys Plus to the Japanese market. An Ethereum (ETH)-based blockchain platform, PegaSys Plus is a commercial license version of the ConsenSys product offering additional features and support.

Japanese blockchain market has potential

ConsenSys Founder and CEO Joseph Lubin commented on the collaboration between the two companies:

"We think Japan has the potential to be one of the fastest growing blockchain markets in the world over the coming years, and I am eager to drive that growth with Hitachi. We are committed to bringing our stack of products to Japan and working with the best partner possible to make Japan a global leader in the space."

Among its blockchain services, Hitachi provides solutions that provide total support for the introduction, construction, operation, and development of distributed applications utilizing Pegasys Plus. The global IT firm intends to use the platform built on Hyperledger Besu to streamline operations related to digital asset trading, electronic coupons, supply chain management, and certification.

Japan dealing with crypto bloodbath fallout and possible lockdown

Even in the midst of talk of shutting down Tokyo due to the spread of COVID-19, there is positive blockchain news for Japan. Those registering for accounts with one Japanese cryptocurrency exchange increased in the week following the crypto bloodbath, indicating investors may have bought the dip.