Japan’s Prime Minister Says Web3 Can Transform the Internet

Joshua Ramos
Source: The Block

Japan’s Prime Minister, Fumio Kishida, said that Web3 has the potential to transform the internet as we know it. Indeed, speaking at the Webx Web3 Conference taking place in Tokyo, Kishida discussed the sector’s transformative potential to change the digital and social worlds.

Additionally, Kishida remarked that the government was focused on facilitating that continued growth. Specifically, stating that his administration’s “new capitalism” policies are designed to drive the continued development of the sector.

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Japan Prime Minister Champions Web3 Potential

Over the last several months, various countries have grappled with the presence of Web3 developments. Some have halted the idea of regulation for digital assets. While others have fully embraced the next phase of internet development. Speaking at a Web3 conference today, one prime minister clearly sided with the latter.

Indeed, Japan’s Prime Minister, Fumio Kishida, has stated that Web3 has the potential to transform the internet. Moreover, stating that the developing industry could completely evolve social change within the country itself. Something that the government is hoping to facilitate.

Source: Forkast

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Kishida also brought light to how the nation is embracing that transformative potential through its policies. Specifically, stating that the government is developing an environment to aid Web3 promotion. Utilizing his administration’s “new capitalism” economic policies.

“Web3 is part of the new form of capitalism,” Kishida said via video message at the conference. Conversely, his statement arrives as Japan has consistently embraced the sector in recent months.

Binance and CEO Changpeng Zhao have already announced its intention to debut in the country next month. Additionally, there have been reports that the country is seeking the development of its own stablecoin. All verifying the country’s continued embrace of development in Web3 and cryptocurrencies.