Japan's Prime Minister Stresses Gov's Focus on Web3 Growth, Says Major Company Will Unveil 'Ambitious' Metaverse Project

cryptonews.com:

Japan's Prime Minister Fumio Kishida said that the country's agenda includes support for the growth of Web3 companies and suggested that a major company would reveal its metaverse project. Meanwhile, Binance announced its full Japanese presence starting in August.

Kishida spoke to the audience at the two-day WebX conference in Tokyo, which opened on Tuesday and is organized by Japan's Web3 media company CoinPost.

The conference speakers include a number of major figures from the worlds of politics, traditional finance, decentralized finance (DeFi), crypto, blockchain, and non-fungible token (NFT). Kabosu, the dog behind the famous Doge meme and coin, is also among them.

Kishida delivered a video address "about innovation in Japan and the government's recent Web3 push."

The country's leader argued that Web3 has the potential to transform the traditional Internet framework and lead to social change, CoinPost reported. Therefore, the government is working on improving the environment for Web3 growth.

The Prime Minister repeated that "Web3 is part of the new form of capitalism,” referring to his economic policy that focuses on innovation and digital transformation to drive growth and wealth distribution.

EOS Foundation CEO Yves La Rose tweeted that Japan, unlike a number of countries, welcomes Web3.

Kishida expressed his hope that the Web3 industry "will regain its attention and vitality, and that various new projects will be born."

Per Bloomberg, Kishida also suggested that a major company is set to unveil a metaverse project, stating that,

"I have heard that a large Japanese company will take this opportunity to announce to the world a big, ambitious project that aims to create a valuable economic system in the metaverse."

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