Gairika Mitra
Japan’s Prime Minister Fumio Kishida announced the crucial role of Web3 and blockchain in addressing social challenges in the nation on Wednesday.
He made this statement through a video speech at the beginning of WebX 2024, a conference organized by CoinPost, a Japanese Web3 media company. The event took place at The Prince Park Tower in Tokyo.
He began his speech with a video message that touched on the “New Capitalism” policy – one practiced by his current administration. Kishida noted that the decentralized nature of blockchain and technology could enhance transparency, boost security, and pave the way for building a digital and resilient society in Japan.
In his speech, the PM also held praises for the private sector, including the business transformation of large companies. He added that the Japanese government has introduced concrete measures like tax and legal reforms that will help fetch funding for the Web3 startups.
To foster an amiable environment the Japanese government has set a future policy direction called the Basic Policy for Economic and Fiscal Management and Reform 2024. The plan reaffirms that the Japanese government will work towards creating an environment that will help utilize Web3-related tokens, facilitating payment, and redefining the content space.
In February this year, Japan advanced an economic reform bill designed to foster new business creation and strategic domestic investments via tax incentives, and other financial support which were aimed at specific strategic objectives.
Shiba Inu also has been a prominent name in Japan, especially with its recent initiatives like SBI VC Trade announcing its lending campaign for SHIB. Previously, SHIB had also been a gold sponsor of IVS 2022 in Kyoto, Japan, an event that marked the first public appearance of pseudonymous Shiba Inu project lead Shytoshi Kusama.
In the Kyoto gathering, Kusama engaged with the attendees in an open and approachable manner. A Shib Army member also got a chance to interact with Shytoshi, calling the meeting a memory that he will cherish forever.
PM Kishida’s speech puts Japan on a pedestal with its digital transformation journey. With Japan marching ahead towards its Web3 initiatives, it is likely to soon emerge as a global leader in the Web3 and blockchain space.
As a nation, Japan is poised to set new standards for itself regarding technological advancements and is also serving as an inspiration to other countries to adopt blockchain and Web3.
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Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
