Japanese Government’s Efforts toward Web3.0 - Waka Itagaki

foreign [Music] industry of the Japanese government I'm a deputy director at the website policy office I'm honored to be here and then today like I'm glad to see a lot of like Engineers overseas coming to Japan to build something great in Ripley and then like today I want to make a presentation about like Japanese government's efforts towards the website and then how startups or Engineers oversee can collaborate with Japan so Japanese government as a whole is already committed to the promotional absoli apply Minister kishida made a speech in London to promote the website also a lot of Japanese official documents uh already mentioned web3 as a key driver for Innovation and we are already committed to create a better business or innovation environment or to promote this kind of a great new technology uh this kind of efforts has started from the request from politicians actually ldp or Japan's ruling party I'll set up a project team focused on web3 and then they uh published white paper just listed up all the policy issues we need to talk growth to promote the website and then uh that is why our website has taken off in Japan established a policy office focused on website like inside the government like there is legally Authority like Financial Subs agency and like digital agency but like uh Mandy is a kind of Pusher a website inside the government and then uh from the standpoint of of the business or industry uh we are now talking with our Legacy also lady and like tax also as well uh as you may already know there is increasing interest in web 3 from large corporations of Japan is the biggest Industry Group or which consists of Japanese large corporations has published a paper that make proposal or to the government that like hey we are already invested in the website but like hey Japanese government let's try to make a better environment has announced that they will invest a 5 billion USD over the next five years uh uh also like there are a lot of ID companies or IP holders financial institutions uh they already started to like this the discussion are to what they can do uh in this space so why website is very hot in Japan uh one is one of the reasons is that obviously or is barely compatible or to Japan's tracks and then it's expected to generalize significant economic volume or in cultural and economic uh domains like the content or sports games and arts and as you already know Japan has Rich culture and a lot of ips so like a lot of companies are interested in how like nfts or tokens Can Be utilized uh when they push their businesses uh so how is the Japanese government are trying to promote a web sleep uh Japanese government as a whole has a responsibility to create a Better Business involvement but like in a more responsible way uh Financial Service Agency need to do a kind of consumer protection and then some lullaby agency need to protect our existing IPS while as a whole we will tackle a lot of policy issues including tax system illegal issues regulations accounting issues and others our methi especially is focused on financial regulation and tax system level and accounting issues uh human resource development uh this year of together with the financial service agency uh we could created a new regulation new regulations guidelines which are clarify the scope of digital assets uh which enable the utilization of nfts and also we have achieved the new tax reform uh that made token Insurance more easier addition to Japan Rich cultures Japanese government efforts are there the reason why uh Japan is a good place to do crypto business like as you already know like United States or other countries is now trying to tightening regulation but Japan has already set up a high level validation that's why our Japan's FTX job are custom assets was separatedly managed and then there is no damage because FTX or other incidents so now Japanese government is trying to create a Better Business environment where the regulation is already in place so we can create more like saved secure clip environment I think so how startups or Engineers overseas can collaborate with Japan uh maybe one way is to work with Japanese large corporations I think a lot of Japanese populations are already interested in web3 but they don't know what to do um they don't have any skills Network and also like they actually are kind of a silliers so they want to see some proposal which Beyond speculation are the business proposal which will create or some like values to the Society and also some like sustainable business or income cash flow also are moving to Japan to start a business is all can be an option as well we have startup visa and then like if you go to like municipalities like Shibuya glucos and I killed uh they will support you to start the business uh also like East Global is already a barely good International Conference but we are expecting or to have more like upcoming International conferences this year uh Japan blockchain week it's gonna be happening like uh June July and also WebEx it's going to be happening in July 25 26 so if you can come to this place uh there will be a lot of Japanese people like Japanese Dutch corporations so maybe you can start the conversation as well yeah provide more information we published a paper uh which summarized the government's point of view towards obviously and yeah please feel free to contact us thank you