Japan's Prime Minister says Web3 and blockchain technologies are key to solving the country's social problems.
Date: 2024-08-28 Author: Henry Casey Categories: IN WORLD
Kishida, who will step down as prime minister in September, noted that Web3 and blockchain are important in his "New Capitalism" program, emphasizing that solving social problems will stimulate economic growth.
Japan's policy priorities: Web3 tokens and payments
The prime minister stressed that future government policies will focus on creating conditions for the use of Web3 tokens. They will also take steps to simplify payment processes and revitalize the content industry.
Kishida noted significant changes in the private sector, including the transformation of large corporations over the past year. He added that the government has taken decisive steps on tax and legal reforms to make it easier for Web3 startups to raise funds.
In addition, the Prime Minister expressed hope that innovations aimed at solving social problems will continue to emerge.
Japan's Leadership in Technology with Web3 Reforms and Digital Currency
Japan is actively improving its regulatory framework to accommodate Web3 and cryptocurrencies. Recent changes in the law now allow venture capital to directly invest in Web3 projects, which was previously impossible due to restrictions on providing cryptocurrency to investors.
Japan is also exploring the use of stablecoins such as JPYCoin and the prospect of introducing a digital yen. This is aimed at strengthening the global position of the Japanese yen in digital form.
