Japan Open Chain to Exhibit and Present at Japan's Global web3 Business Community 'web3BB Tokyo'

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PressRelease

|Dec 14, 2023

~ Sessions and Workshops on Topics Including Stablecoins to Be Held ~

Japan Blockchain Foundation Co., Ltd. (CEO: Hidekazu Kondo; hereinafter "our company"), which operates and manages the consortium for "Japan Open Chain," a blockchain infrastructure optimized for web3 business, is pleased to announce that we will co-sponsor and exhibit at "web3BB Tokyo," a Japan-originated global web3 business community hosted by Pivot Tokyo Co., Ltd. and Vueloo inc., over two days on December 21 (Thu) and 22 (Fri), 2023. We will also present at pitches and workshops held at our booth.

◽️ Our Company's Presentation Schedule

We 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.

①December 22 (Fri) 11:55 - 12:25

Workshop "Challenges and Solutions When Entering web3 Business"

・Speaker: Japan Open Chain Founder Hiroaki Inaba ・Content: As legal frameworks advance in various countries, compliance movements for web3 services are accelerating. Various challenges arise for companies when promoting web3 business. Meanwhile, Japan's web3 legal framework is advancing, creating an environment for safe web3 business operations, drawing global attention. While hearing about the situations and concerns of participants in this session, we will explain solutions for companies trying to seize this opportunity and challenges for web3 business operators.

②December 22 (Fri) 12:25 - 13:30

5-Minute Exhibitor Pitch

・Speaker: Japan Open Chain Founder Hiroaki Inaba

◽️ Web3 Services to Be Introduced at Our Exhibition Booth

▶︎ Japan Open Chain

A fully Ethereum-compatible blockchain infrastructure that anyone worldwide can use safely, securely, and affordably. Designed as a chain 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

Stablecoins worth approximately 20 trillion yen, primarily USD-based, are already in circulation and use worldwide. 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: web3BB Tokyo Dates: December 21 (Thu) – 22 (Fri), 2023 Time: 21st 13:00 - 17:30, 22nd 10:00 - 17:30 Venue: The National Art Center, Tokyo Organizers: Pivot Tokyo Co., Ltd., Vueloo inc. Official URL: https://www.web3bb.pivot-tokyo.com/