Japan has a powerful weapon in promoting Web 3.0. How do leaders think and what do they have to say?
Web 3.0 is now considered important by the Japanese government and major corporations, and in light of the global trend towards stricter regulations, this year is said to hold an opportunity for Japan to take the lead in Web 3.0. In particular, Japan's content IP and the gaming domain, which is gaining popularity around the world, are important for the growth of the Web 3.0 domain.
Since last year, the first year of Web 3.0, the enthusiasm has increased even further, and major Web 3.0-related events are scheduled to take place in Japan in 2023. One such event, the TEAMZ WEB3 SUMMIT, was held on 17 and 18 May, organised by TEAMZ Inc.
This event is an update of the TEAMZ BLOCKCHAIN SUMMIT that the company has held in the past and focuses on Web 3.0. The aim of the event is to bring together world-class speakers and businesses to deepen understanding of the current international situation and industry for the development of Web 3.0 in Japan.
According to the official announcement, 65 exhibitors, over 30 major media companies and more than 100 speakers will take the stage. The scale of the event is truly befitting of a large-scale event. Speakers included leaders at the forefront of the Web 3.0 field in Japan, as well as many top players from overseas.
Our goal is not just to be an event company, but to act as an accelerator for Web 3.0’, said Mr Yang Tianyu, CEO of TEAMZ, prior to the event.
These words strongly indicate that, based on the concept of ‘boosting the Web 3.0 industry in Japan’, he hopes that this event will bring overseas trends to Japan and become a place of new awareness and discovery in order to develop Web 3.0 in a uniquely Japanese way.
The stage for Japan's largest Web 3.0 event was Toranomon Hills Mori Tower. The entire fifth floor was reserved for the TEAMZ WEB3 SUMMIT. Once you step inside, you will find yourself in an exciting, cutting-edge Web 3.0 world.
Starting with the lectures on the main stage, there were lively scenes everywhere, including a hackathon on the sub-stage and exhibition booths by participating companies. The lectures on the main stage were particularly popular, with people standing in line at any time.
On the main stage on Day 1, the lecture ‘Changes and Possibilities of Exchanges through the Development of Web3’, featuring Yuzo Kano, CEO of bitFlyer Holdings Inc. and Hirotaka Kunimitsu, CEO of Financier Inc. seemed to attract a particularly high level of attention.
In this session, a comparison was made between Japan and other countries in the Web 3.0 area and the regulatory aspects of this area. In the US, the Securities and Exchange Commission (SEC) is currently bringing a series of cases against crypto-asset-related businesses for breaches of the Securities and Exchange Act. However, nothing similar has happened in Japan.
This is proof that Japan has been ahead of the rest of the world in developing regulations. In light of this situation, the words ‘Japanese regulations have the potential to become the world's standard’ in the speech may have encouraged those involved in Web 3.0 in Japan.
▶Main stage on Day 1
On both Day 1 and Day 2, various discussions were held on areas that are currently attracting attention.
For example, on Bitcoin NFT, which is attracting more and more attention every day, Yawn Rong, co-founder of GameFi and STEPN, which saw a huge boom last year, expressed his understanding of the current enthusiasm, but also warned that ‘adding something to one thing can cause confusion and lead to a split in the community’ and that ‘it's not a good idea to add something to one thing. He warned that ‘adding something to one thing can lead to confusion and divide the community’. This is a persuasive opinion that can only come from a man who fully understands the importance of community.
He also had a variety of opinions on AI, which has been attracting particular attention this year with the emergence of the ChatGPT and other technologies.
Mr Motoki Tani, co-founder of Animoca Brands K.K., developed the theory that ‘Web 3.0 will spread with the help of AI’ and added: ‘Japan is an IP powerhouse and a treasure trove. With the support of the government, the time for action is now.
Turning to the exhibition booths of the participating companies, the place was truly filled with enthusiasm. It was impressive to see how many people stopped by the exhibition to find out about the latest trends, not to mention the high level of interest in Web 3.0, and how earnestly everyone listened to what was being said.
At the end of the second day's exhibition, a sense of achievement could be felt from each exhibitor. The same could be said for the visitors, who were seen leaving with expressions of satisfaction on their faces.
The event also included a raffle for one million yen worth of bitcoins. The first 100 people to complete a mission at each booth and receive a stamp were eligible to take part in the raffle, so many visitors were eager to be among the first to enter, and the event was a great success.
The event was initially expected to attract 3,000 visitors, but in fact more than 4,500 people attended.
What I sensed through the coverage on both days was the expectation and seriousness of the Web 3.0 domain. Not only the exhibiting companies and speakers, but even the general public were seriously enthusiastic about the future envisioned by Web 3.0, and the image of Japan leading it.
Technology that engrosses someone, and the new things that are created by that technology engross someone else. This is the kind of energy that will create Web 3.0 and lead the world. The two-day event was overflowing with enthusiasm. During this period, the centre of Web 3.0 in Japan was definitely swirling in Toranomon.
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