Japan Open Chain to Exhibit at Tokyo Dome-Hosted Blockchain Business Event 'enXross'

Tags:

PressRelease

|Dec 8, 2023

Japan Blockchain Foundation Co., Ltd. (CEO: Hidekazu Kondo; hereinafter "our company"), which operates and manages the consortium for "Japan Open Chain," a public blockchain optimized for web3 business, will exhibit at the blockchain business event "enXross" hosted by Tokyo Dome City, Japan's largest entertainment city, on December 19, 2023.

"enXross," launched by Tokyo Dome, is a new project of entertainment and innovation that utilizes digital technology to provide new value and moving experiences to society. At "enXross," in addition to booth exhibitions, ideas and talk sessions on web3 and cutting-edge technology will be presented.

Our company will provide detailed introductions to Japan Open Chain, a fully Ethereum-compatible blockchain infrastructure operated by Japanese companies as validators, including its overall architecture and usage, stablecoin issuance by financial institutions, projects utilizing Japan Open Chain by corporations and local governments, and initiatives toward IEO.

◽️Web3 Services to Be Introduced at Our Exhibition Booth

▶︎ Japan Open Chain

A public blockchain operated by Japanese companies that emphasizes legal and technical practicality, optimized for business. Designed as a fully Ethereum-compatible blockchain infrastructure that anyone worldwide can use safely, securely, and affordably, particularly optimized for use in finance and business sectors.

**Main Features>

Safe and Secure Operation by Japanese Companies

Validators (blockchain co-operators) are companies that have passed appropriate screening
Operations comply with Japanese law with clear legal basis

Fully Ethereum-Compatible Chain Using PoA Method

Full compatibility with Ethereum allows tools and smart contracts developed for Ethereum protocols to be used as-is
Adopts PoA (Proof of Authority) algorithm, realistically considering the balance between decentralization and scalability
High security performance through adequate decentralization, network stability and controllability, excellent energy efficiency with environmental considerations

Fast and Affordable Fees, Design Optimized for web3 Business

Achieves processing speeds several dozen times faster than Ethereum mainnet
Affordable fees of less than 1 yen per NFT issuance
Eliminates settlement risk through deterministic finality

Projects by Major Corporations and Local Governments Including Stablecoin Issuance Are Underway

Financial DX projects utilizing Japan's first bank-issued stablecoins
Various NFT projects by local governments including "Digital Citizen Certificates"

▼Japan Open Chain Official Website https://www.japanopenchain.org/

▶︎ Stablecoin Project

Currently, approximately 17 trillion yen worth of USD-pegged stablecoins are in circulation worldwide, and are predicted to grow to approximately 400 trillion yen within the next 5 years. They are attracting attention as a blockchain use case utilized globally for enabling extremely fast and affordable remittances and payments. In particular, they are gathering attention in various areas including corporate and personal remittances and payments, payment methods for NFTs and digital securities, and supply chain DX.

Following the enforcement of the amended Payment Services Act on June 1 this year, we are conducting demonstration experiments on stablecoin issuance and remittances on Japan Open Chain in collaboration with various banks. We aim to circulate Japan's first bank-issued stablecoins domestically and internationally, and plan demonstration experiments with businesses that will use stablecoins.

◽️Event Overview

Name: enXross Date: December 19, 2023 (Tue) Venue: Tokyo Dome Hotel B1F Tenku Organizer: Tokyo Dome Corporation Official URL: https://www.tokyo-dome.co.jp/enxross/