KEYTAKEAWAYS
- PM Kishida positions Web3 and blockchain as foundations for solving social issues, aligning with Japan's "New Capitalism" policy for economic growth.
- Japan's government is actively supporting Web3 startups through tax reforms, legal amendments, and policies aimed at facilitating the digital economy's growth.
CONTENT
Japan’s PM Kishida addresses WebX conference, emphasizing Web3 and blockchain as key to solving social issues. Government initiatives support Web3 startups and token utilization in new economic policy.
On August 28, the international Web3 conference “WebX,” planned and operated by CoinPost Inc. and hosted by the WebX Executive Committee, opened. This event brings together key players from Japan and abroad to discuss the future of Web3.
At the opening, Prime Minister Fumio Kishida delivered a video message. PM Kishida touched on his administration’s “New Capitalism” policy, reemphasizing the approach of using social problem-solving as an engine for economic growth. In this context, he positioned “Web3 and blockchain technology as the foundation for solving social issues.”
(Source: CoinPost)
Furthermore, he commended the private sector’s active movements seen over the past year, including business transformations by large corporations. In response, he explained that the government has also “advanced concrete initiatives such as tax reforms and legal amendments to facilitate funding for Web3 startups.”
Regarding future policy directions, he reaffirmed that “in the ‘Basic Policy 2024,’ we will work on environmental improvements related to the utilization of Web3 tokens, facilitation of payments, and revitalization of the content industry, while being mindful of user protection.”
Concerning WebX, Prime Minister Kishida expressed his expectation, stating, “I hope that innovations leading to the resolution of social issues will continue to emerge.”
Read More:
Why has the Japanese government started promoting “Web3 policies”? Summary of key points and related news (in Japanese)
WebX 2024 in JAPAN: A Two-Day Gathering of Companies Venturing into Web3, Led by the Anime Industry
WebX2024: Experts on Strategies to Combat Crypto Crime and Secure Digital Finance Future
The “Web3 Project Team” (formerly the NFT Policy Review Project Team) established by the Liberal Democratic Party’s Digital Society Promotion Headquarters in January 2022 positions Web3.0 as “a new frontier of the digital economic sphere” and proposes the nurturing of this economic sphere, including NFTs, as a national strategy.
In response to these proposals, the Japanese government decided on a growth strategy incorporating the development of the Web3.0 environment in a cabinet meeting in June 2022.
Speaker Profile
Fumio Kishida, 101st Prime Minister of Japan, Member of the House of Representatives. Served as Minister for Foreign Affairs from 2012, concurrently held the position of Minister of Defense in 2017, and also served as Chairman of the Policy Research Council. In 2021, he announced his candidacy for the LDP presidential election, won first place in both rounds of voting, was elected as the LDP president, and subsequently became Prime Minister of Japan in the same year.
(Content Original Source: CoinPost)
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