The international Web3 conference, WebX, commenced on August 28, 2024, organized by CoinPost Co., Ltd. and hosted by the WebX Executive Committee. This event unites key players from Japan and around the globe to explore the future of Web3 technologies.
During the opening, Prime Minister Fumio Kishida delivered a video address highlighting his administration’s “New Capitalism” initiative. He emphasized the importance of addressing social challenges as a catalyst for economic growth, positioning Web3 and blockchain technology as essential tools for tackling these issues.
Kishida commended the significant strides made by the private sector, particularly the transformation efforts of major companies over the past year. In response, he noted that the government has enacted specific measures, including tax and legal reforms, to support fundraising for Web3 startups.
Looking ahead, the Basic Policy for Economic and Fiscal Management and Reform 2024 reaffirms the government’s commitment to creating a supportive environment for Web3-related tokens, enhancing payment systems, and revitalizing the content industry, all while ensuring user protection.
In his remarks, Kishida expressed optimism that WebX would foster innovations aimed at resolving social issues. The Web3 Project Team, established by the Liberal Democratic Party’s Digital Society Promotion Headquarters in January 2022, views Web 3.0 as a critical frontier in the digital economy and advocates for integrating NFTs into Japan’s national strategy.
In line with these recommendations, the Japanese government approved a growth strategy in June 2022 to cultivate a favorable environment for Web 3.0 development, underscoring its importance in the nation’s economic future.
