Japan PM Highlights Web3, Blockchain as Solutions to Social Issues
Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.
Japan’s Prime Minister Fumio Kishida declared on Wednesday that Web3 and blockchain technology are fundamental in addressing the country’s societal issues.
He delivered this message through a video address during the opening ceremony at WebX 2024, an event hosted by Japanese Web3 media firm CoinPost, at The Prince Park Tower in Tokyo.
Kishida, who will step down as PM in September, discussed Web3’s role in the context of his government’s “New Capitalism” policy, stressing that solving social issues will drive economic growth.
Japanese Prime Minister Fumio Kishida said at the WebX conference that Web3 and blockchain technology are positioned as the basis for solving social problems, implementing tax reforms and legal reforms to make it easier for Web3 startups to raise funds, and will work to create an…
He also mentioned that the government’s future policies will focus on creating an environment that supports the use of Web3 tokens. Additionally, it will ensure smooth payment processes and work towards revitalizing the content industry.
Kishida commended the dynamic changes within the private sector, including the transformation of major corporations over the last year, and said that the government has taken decisive action through tax and legal reforms to ease fundraising for Web3 startups.
Further, the Prime Minister conveyed his expectation that innovations addressing social issues will continuously emerge.
Japan has been enhancing its regulatory framework to better accommodate Web3 and crypto. Recent amendments now allow venture capital firms to invest directly in Web3 projects.
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