Japan’s PM Fumio Kishida said web3 has the potential to transform the traditional internet framework and contribute to social change.
Japan’s leader hoped the conference would serve as a platform where major Japanese companies announce significant projects aimed at creating valuable economic zones within the metaverse, he added.Koichi Hagiuda, chair of the ruling Liberal Democratic Party's policy research council, opened the event, saying Japan had an advantage in emerging technologies like web3, having proactively regulated the cryptocurrency market.
Hagiuda also highlighted the importance of international cooperation, given web3's global nature, hinting at potential collaborations with partners from the U.S., France and Singapore, among others. Japan's focus on web3 started in earnest when the LDP's digital society promotion headquarters established its “web3 project team” in January 2022. The unit regards web3 as the new frontier of the digital economy and recommended its cultivation as an integral part of Kishida's “new capitalism” policy, CoinPost said.
Binance CEO Changpeng Zhao also reconfirmed the launch of its new platform in Japan in August, Bloomberg
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