Japanese Tech Giant GMO Exits Crypto Mining Hardware Market Amid Bearish Trends

GMO's Mining Division Faces Major Losses

Key Developments (12/29-01/04):
Japan's internet conglomerate GMO Internet has announced its withdrawal from the cryptocurrency mining hardware market after reporting staggering losses. The company's Q4 2018 financial report revealed:

• Mining Business Impairment Loss: ¥115 billion (~$1.04 billion)
• Mining Hardware R&D & Sales Loss: ¥240 billion (~$2.17 billion)
• Total Losses: ¥355 billion (~$3.21 billion)

👉 Explore crypto market trends

Strategic Shift Explained

GMO entered the mining hardware space in September 2017 but faced:

1. Intensified market competition
2. Plummeting cryptocurrency prices
3. Declining demand for mining equipment

While discontinuing hardware production, GMO will maintain its mining operations after restructuring revenue models.

Smart Government Initiatives: Blockchain-Based Digital IDs

Taiwan's National Development Council has approved plans to:

• Launch digital ID cards (New eID) by 2020
• Implement blockchain for cross-agency data exchange
• Achieve 80% online government services
• Introduce electronic voting for referendums

Blockchain Integration:
The government will leverage blockchain technology to create secure inter-agency data bridges, with full implementation targeted by 2025.

Deutsche Bahn Tokenizes Travel Ecosystem

Europe's largest railway operator is collaborating with blockchain integrator Unibright to:

• Tokenize tickets, vouchers, and accommodation assets
• Integrate rail, air travel, hotels, and car rentals
• Enable asset conversion (e.g., delayed train tickets → hotel discounts)

👉 Learn about tokenization

Shipping Industry Forms Blockchain Alliance

The Global Shipping Business Network (GSBN) consortium, including:

• Yang Ming Marine Transport
• Evergreen Marine
• CMA CGM
• COSCO Shipping

2019 Pilot Projects:

1. Digitalizing dangerous goods documentation
2. Streamlining approval processes via Oracle's blockchain cloud

LINE's Blockchain Expansion Targets Taiwan

LINK Ecosystem Focus Markets:

1. Japan
2. Indonesia
3. Thailand
4. Taiwan

Upcoming Features:

• Q1 2019: LINK Wallet launch
• Service tokenization across messaging, gaming, and commerce

Facebook's WhatsApp Crypto Rumors

Reports suggest Facebook may develop:

• A USD-pegged stablecoin
• Initial rollout in India (200M+ WhatsApp users)
• Targeting India's $69B remittance market

LinkedIn's Top Emerging Jobs (2018)

1. Blockchain Developer (33x growth)

   • Required skills: Solidity, Ethereum, Node.js

2. Machine Learning Engineer (12x growth)

   • Key industries: Software, IT Services

Fintech News Roundup

1. Biometric Data Theft Warning - Kaspersky predicts rise in 2019 attacks
2. Blockchain Birth Certificates - Kolkata issues first in India
3. Visa's Blockchain Move - Acquires Ripple partner Earthport

Sources: iThome, January 2019

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### FAQ Section

**Q: Why did GMO exit the mining hardware market?**  
A: Due to crypto price declines and unsustainable hardware competition.

**Q: When will Taiwan's digital ID launch?**  
A: The New eID system is scheduled for 2020 implementation.