The Government of Japan is the first in the world to draw up a plan around the decentralization of blockchain and Web3. According to CoinPost , the Japanese executive has approved a plan to promote a more decentralized and reliable internet and spread and expand digital assets on the blockchain. The Government indicated that it will strive to improve the necessary environment to build a decentralized digital society.
Japan and Web3
The government said it will work on international standardization to build a trustworthy web and pledged to improve the environment to promote Web3. For example, the use of NFTs and DAOs, based on blockchain technology. He also promised to introduce a bill related to the Metaverse.
The Japanese executive believes that blockchain technology has the potential to change the internet and lead to social change, through multipolarization in the virtual space. As the direct mutual connection of independent users. The approval of the Web3 plan comes days after the country’s prime minister, Fumio Kishida, said the Web3 era could lead to economic growth.
Metaverse and NFT
Kishida spoke these words in the House of Representatives in response to a question from Masanobu Ogura, of the Liberal Democratic Party, regarding an intervention in London. The Prime Minister gave a conference in the London capital on May 5. During the meeting, Kishida expressed his confidence that the incorporation of new digital services, such as the Metaverse and NFTs, will lead to economic growth in Japan and invited investors to join his country’s new digital challenge.
The Prime Minister of Japan has also been willing to carry out a tax reform of cryptocurrencies to boost the growth of Web3.