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 "web3BB Tokyo" where top players from Japan and abroad gathered to discuss the essence of web3 that took place from July 5th to 6th.During the event,JOC Founder and G.U. Technologies CEO Mr. Inaba gave an exhibitor pitch, and JOC Founder and G.U. Technologies CTO Mr. Kondo gave a session on the theme of stablecoin. Let's dive into the highlights of their presentation.
■ Content of Presentation
Mr. Inaba made a 5-minute pitch on "Japan Open Chain", mainly on the following topics
- Introduction of Japan Open Chain
- The "e-Kaga Citizenship System" demonstration project
- Initiatives of the stable coin demonstration experiment
- Toward the IEO
■ Session Content
In a session titled - "Is a Centralized Financial Institution Necessary? The Potential of Stablecoin.”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:
- Types and characteristics of legally-backed Japanese stablecoins
- The Role of Centralized Financial Institutions
- The impact on the banking business
- The potential of stablecoins and the social changes brought about by their diffusion
Advances in blockchain technology are expected to create a decentralized financial system that will replace centralized financial institutions. At the same time, stablecoins are expected to provide stability to the crypto asset market, but there are still issues of issuers and regulation that continue to be debated. Mr. Honjo, Visiting Professor at Tama University, moderated a heated discussion on the role of centralized financial institutions and the potential of stablecoin, together with Mr. Ueno of TOYOTA Blockchain Lab and Mr. Okabe of JPYC.
This session was a very interesting topic and a valuable opportunity for those interested in the changes in society and the financial industry brought about by blockchain technology.
▶︎ For tweets related to this event, click here:
https://twitter.com/japanopenchain/status/1676806058055172097?s=46&t=jQhEFOy0woe_xAVyPvTywg
https://twitter.com/japanopenchain/status/1676833706257022976?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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