Going cashless at the Osaka Expo: A glimpse into Japan's intentions and the challenges facing the Expo

The Osaka-Kansai Expo (2025 Japan World Expo) is scheduled to be held from April 13 to October 13, 2025. According to the Ministry of Foreign Affairs, 153 countries and regions from around the world and eight international organizations have announced their participation.

The theme of this Expo is "Designing a Future Society for Life," and it is no exaggeration to say that it is a cultural festival on a global scale.

The artificial island of Yumeshima, located in the Osaka Bay Area where the Expo will be held, is expected to attract more than 28 million visitors, and after the Expo, hotels and commercial facilities are planned to be attracted through the "Osaka IR Concept." The economic ripple effect generated by the Expo is expected to be more than 2 trillion yen.

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In 1970, in the midst of rapid economic growth, the World Expo was held in Osaka with the theme of "Progress and Harmony of Mankind." At the Expo held about 50 years ago, the "linear motor car," "electric car," and "mobile phone" were among the inventions unveiled. 50 years later, all of these inventions are now being used in the real world. The Expo, which was attended by 65 million people from 76 countries, left a strong message to the world about Japan's technological capabilities and vision.

Although it is a good opportunity to show Japan's presence, there seem to be many challenges. Due to design changes, rising material prices, and labor shortages, the construction cost of the venue was increased from the originally planned 185 billion yen to 235 billion yen. This is the second increase. In response to this, there are concerns that the currently calculated operating cost of 80 billion yen may also exceed the estimate.

The increased construction cost will be shared equally between the government, Osaka Prefecture and City, and the business community, and it seems that tax money will also be necessary. Although the business community has secured 70 billion yen of the 78.3 billion yen it will bear, including donations from companies, it seems that they are considering raising the remaining shortfall from a 19 billion yen fund established with the profits from the 1970 Osaka Expo.

In addition, it seems that the possibility has emerged that Japan will take over the construction of the delayed foreign pavilions that have announced their participation, and shoulder the construction costs. There are many doubts as to whether such measures are necessary at an Expo, where exhibiting countries usually cover their own expenses and showcase their domestic technology.

It looks like cash supremacy, which has almost become a uniquely Japanese culture, is finally being addressed. Cash payments will not be accepted as a general rule within the Expo venue. Prepaid cards will be sold for those who are unable to use cashless payments. The Expo appears to be at the forefront of promoting cashless payments in Japan.

An "EXPO 2025 Digital Wallet" based on blockchain technology will also be provided. The sponsor and provider is HashPort, which handles blockchain and NFT-related businesses. The service is scheduled to start on November 1st. Its three main features are a "wallet ID platform," "SBT digital passport," and "Web 3.0 wallet."

▶ Quote from Hashport's announcement

Wallet ID Platform

It will be possible to register and log in with a single ID for the unique financial services being offered at the Osaka-Kansai Expo, including the electronic money "Myakupe!", the points "Myakupo!", and the Expo's unique NFT "Myakuun!".

SBT Digital Passport

Using SBT, which cannot be transferred to a third party, the SBT Digital Passport will have an identification function. Through the SBT Digital Passport, users will be able to seamlessly link with pavilions and local governments for various services both inside and outside the venue.

Web 3.0 Wallet

It will be responsible for storing SBTs and NFTs issued by pavilions and in collaboration with local governments.

The EXPO 2025 Digital Wallet envisions Palette Chain as the main chain to be used, but taking into account the risks that can arise from using a single chain, it may support other chains in the future.

In addition to payments using the EXPO 2025 digital wallet, 1,000 sets of "stera terminal" and "TWINPOS Sx," payment terminals commonly seen in restaurants, will be installed to support approximately 60 domestic and international payment brands. The cashless system will be operated by Sumitomo Mitsui Banking Corporation, Resona Bank, SBI Holdings, and Mitsubishi UFJ Bank.

Japan's cashless rate is said to be around 30%, significantly lower than the 55% in the United States and 83% in China.

Not only is the aim to create a greater economic ripple effect by enabling smooth payments in an environment that is likely to attract inbound tourists from overseas, but the spread of cashless payments and cryptocurrency wallets that will be promoted on this occasion will also provide a major boost to the domestic cryptocurrency industry.

We hope that the public and private sectors will work together to focus on marketing to encourage the use of digital wallets at EXPO 2025.

Image: Shutterstock

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◉Noriaki Yagi
While attending university, he worked in the food and beverage industry. From that experience, he launched a restaurant consulting business and a human resources dispatch business in the amusement field, and became its representative. At the same time, he started using social media to establish his own brand. After achieving a total of 10,000 followers on social media, his recognition increased and he launched his own apparel brand. In September 2021, he joined J-CAM Co., Ltd. After working on YouTube and Twitter, he became editor-in-chief in April 2022. In March 2023, he launched "Iolite".

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