JAPAN WANTS TO LEAD WEB3

Japan envisions web3 technology as the next wave of economic empowerment and inclusion.

The country has been formally focused on providing legal clarity and friendliness to development and infrastructure for web3 since January of 2022.

This past week, Japan’s Prime Minister Fumio Kishida touted Japan’s positioning, and said the country was set to lead in the web3 space, according to the Japanese crypto outlet Coinpost, as reported by theblock.co.

Speaking at the WebX web3 conference in Tokyo via video message, Kashida noted the prospect of web3 to transform the current internet into a more decentralized, crypto powered version where user experiences, data and assets would flow in a more equitable way that fostered positive social change.

He said his policies were aimed at creating an environment that supported web3 development to spur growth and innovation, according to CoinPost 

“Web3 is part of the new form of capitalism,” Kashida was quoted as saying.

During the conference, other Japanese officials spoke about the need for international cooperation in fostering innovation of the kind that web3 represents.

One sign of Japan’s crypto openness? At the conference, Binance CEO Changpeng Zhao reconfirmed a Japanese launch of its new platform SEBC, which it acquired in November 2022.

TRENDPOST: The decentralized and borderless aspects of crypto technology will continue to fuel adoption despite crackdowns, and reward regions that see the utility and build for the web3 future.