Japan Prime Minister: Web3 for Domestic Growth

Japan’s Prime Minister Shigeru Ishiba emphasized cultivating Web3 technologies as a key pillar of domestic economic growth.

At the WebX event on August 25, PM Ishiba described Web3 as “a transformative turning point comparable to the Industrial Revolution.” Ishiba follows Donald Trump’s example as a national leader, attending a Web3 event and emphasizing technology, but taking a different stance in detail.

Web3 as a Catalyst for Domestic Economic Growth

Highlighting the domestic impact, the PM pointed to the potential of Web3 industries, including digital assets, to energize local startups and regional economies. He cited the “Regional Coin Project” in Shimane Prefecture, which rewards external contributors addressing local issues with digital currency usable within the region.

Similarly, Web3 technologies are being applied to the Osaka-Kansai Expo, reflecting Japan’s commitment to enhancing its domestic digital infrastructure. The Prime Minister stressed the importance of overcoming structural challenges such as Japan’s declining population and slowing economic growth through innovative technologies and startup initiatives.

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