Welcome to the "JOC Newsletter" by Japan Open Chain, where we bring you updates on Japan Open Chain's activities. In this edition,we are thrilled to share a report from the "IVS 2023 KYOTO/ IVS Crypto 2023 KYOTO," the largest domestic startup conference that took place from June 28th to 30th, with a record-breaking attendance of over 10,000 participants.During the event, JOC Founder and G.U. Technologies CEO, Mr. Kondo, took the stage in a session dedicated to Stablecoins. Let's dive into the highlights of his presentation.
■ Session Content
In a session titled - "What Will Happen to Japan - The Future of Stablecoins Other than CBDC” held in light of the amended Fund Settlement Act enforced on June 1st, focusing on Stablecoin from Japan, which is attracting attention not only from web3 industry but also from domestic and international financial industry and major media. The following topics were predominantly discussed:
- Issues and expectations after the implementation of the revised law
- Types and characteristics of legally-backed Japanese stablecoins
- Handling of foreign-issued stable coins
- The impact on the banking business
- Social changes brought about by the spread of stablecoins
The full-scale circulation of Stablecoins may bring significant transformations not only to the financial industry but to the entire business landscape, including remittances and payments.Under the moderation of Mr. Mitsune from finoject, a spirited discussion took place with the participation of Mr. Okabe from JPYC and Mr. Saito from Progmat / Mitsubishi UFJ Trust Bank. The focus of the discussion was on various aspects related to stablecoins, including legal reforms, challenges, overseas adoption, and their impact on banks.
This session provided a valuable opportunity for those interested in the launch of Stablecoins in Japan's financial industry.
▶︎ For tweets related to this event, click here: https://twitter.com/japanopenchain/status/1674673683150024704?s=46&t=jQhEFOy0woe_xAVyPvTywg
■ Contact Information
For financial institutions considering the issuance of Stablecoins, businesses utilizing Stablecoins, exploring web3 services using NFTs, or expressing interest in participating as a validator in Japan Open Chain, please feel free to contact us.
▶︎ Contact Form: https://www.japanopenchain.org/en/contact
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