Welcome to the "JOC Newsletter" by Japan Open Chain, where we bring you updates on Japan Open Chain's activities. In this issue, At the "1st CORGEAR Night" held on August 31, 2023, JOC Founder/CTO of G.U. Technologies, Mr. Kondo, discussed with Mr. Kawamura, Representative Director of CORGEAR, a startup within the Sony group and JOC validator. The following is a report of the discussion.
■Content of Discussion
In response to the revised Funds Settlement Law that went into effect on June 1, we discussed the following topics, including stablecoins from Japan, which are attracting attention not only in the web3 industry but also in the financial industry and major media both domestically and internationally.
Stablecoins have already issued 20 trillion yen worldwide. In Japan, legislation is being developed to ensure that there will be no "stablecoin crashes" that are occurring overseas.
G.U. Technologies has been conducting demonstration tests of stablecoin with several banks in Japan and is preparing for the circulation of stablecoin in 2024.
As part of web3business x local development, Corgear is conducting a demonstration experiment of the e-Kaga Citizen System, an e-Residency (electronic citizenship, electronic residency) program utilizing NFT, with Kaga City in Ishikawa Prefecture. Next spring, the program will proceed to the production step with enhanced benefits, such as discounts and preferential treatment for "e-Kaga Citizens" locally.
This dialogue was held in a meeting room at the Sony Group headquarters and was attended by approximately 30-40 people, including not only Corgear employees but also web3-related and external members of the Sony Group.
■ 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.
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