Japan bets on integrating blockchain technology

The Prime Minister of Japan; Fumio Kishida, states that there are several alternatives to support the integration of web3 technology in Japan, as an initiative to propose digital solutions to each of the users.

We know that Japan has always been a technological pillar of society, and this past year the government approved the use of blockchain technology to remain at the forefront.

In front of the Budget Committee of the Japanese House of Representatives last February 1, Kishida mentioned that the insertion within the community of NFT’s (No Fungible Tokens), as well as decentralized autonomous organizations (DAO’s), represents a step to show the world a “cooler” Japan.

In recent months, several industrial sectors of Japanese society have joined this innovation, such as Square Enix and Toyota.

In the case of Toyota, during 2020 it established its own blockchain development laboratory, and uses this technology to prevent advertising fraud.

In addition, Toyota will participate in the inaugural web3 Hackathon by the company Astar Network.

The participation of an automotive giant, such as Toyota, in this type of event promotes the integration that the Prime Minister is seeking for the coming years within the Japanese region.

As if that were not enough, the corresponding authorities, in collaboration with the country’s central bank, announced in November last year that it planned to start a pilot program for the development of a digital currency, which could be launched in the spring of 2023.

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

November last year, Spain attracted the world’s attention by being one of the first…
In a historic collaboration, whiskey producer Jack Daniels and Yahoo Creative Studios joined forces…
A few months ago the bitcoin exchange announced its bankruptcy; however, John Ray III,…