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Japan Open Chain Exhibits and Speaks at Japan-Made Global web3 Business Community "web3BB Tokyo"

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〜Planning sessions and workshops on themes including stablecoins〜​

Japan Blockchain Foundation Inc. (CEO: Hidekazu Kondo), which operates and manages the consortium for "Japan Open Chain," a blockchain infrastructure optimal for web3 business, announces that it will sponsor the Japan-made global web3 business community "web3BB Tokyo" hosted by Pivot Tokyo Inc. and Vueloo inc. for two days on December 21 (Thu) and 22 (Fri), 2023, exhibiting at a booth and speaking at pitches and workshops.

◽️ Our Speaking Schedule​

We will provide detailed introductions to the overall picture and usage methods of "Japan Open Chain," a fully Ethereum-compatible blockchain infrastructure operated by Japanese companies as validators, stablecoin issuance by financial institutions, projects utilizing Japan Open Chain by companies 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 Takaaki Inaba ・Content: As legal systems in various countries advance, the movement toward compliance with laws and regulations for web3 services is accelerating. Various challenges arise as companies promote web3 business. Meanwhile, Japan is attracting worldwide attention as legal systems in Japan's web3 domain advance and an environment for conducting web3 business with confidence is being established. While listening to the situations and concerns of participants in this session, we will explain responses to challenges faced by companies trying to seize this opportunity and solutions for web3 operators.

②December 22 (Fri) 12:25 - 13:30

Exhibitor 5-Minute Pitch

・Speaker: Japan Open Chain Founder Takaaki Inaba

◽️ About web3 Services Introduced at the Exhibition Booth​

▶︎ Japan Open Chain​

A fully Ethereum-compatible blockchain infrastructure that anyone in the world can use safely, securely, and affordably. Designed as a chain particularly optimal for use in financial and business fields.

【Main Features】​

  • Operated safely and securely by Japanese companies.

    • Validators consist of companies that have passed appropriate screening.
    • Operating in compliance with Japanese law, providing a clear legal basis.

  • Ethereum fully compatible chain utilizing PoA (Proof of Authority)

    • Fully compatible with Ethereum, allowing for the use of Ethereum protocol-developed tools and smart contracts as-is.
    • The Proof of Authority (PoA) algorithm achieves a balance between decentralization and scalability, incorporating practical considerations into its design.
    • Provides high security performance thanks to adequate decentralization, network stability and controllability, and is energy-efficient and environmentally friendly.

  • Optimal Design for web3 Business with Fast and Affordable Fees

    • Achieves processing speeds tens of times faster than the Ethereum mainnet.
    • Fees for issuing NFTs are less than 1 yen per transaction.
    • Eliminates settlement risk through deterministic finality.

  • Projects by Large Corporations and Local Governments Underway

    • Financial DX projects through the issuance of Japan-based stablecoins by banks.
    • Various NFT projects by local governments, including "Digital Citizen Certificates".

▶︎ Stablecoin Project​

Stablecoins are already in circulation and use worldwide at approximately 20 trillion yen based on USD. As they enable remittance and settlement to be conducted overwhelmingly faster and more affordably, they are attracting attention as a blockchain use case utilized worldwide. In particular, they are gaining attention in various areas such as inter-company and peer-to-peer remittance and settlement, settlement methods for NFTs and digital securities, and supply chain DX.

Following the enforcement of the revised Payment Services Act on June 1 this year, we are conducting proof-of-concept experiments on stablecoin issuance and remittance on Japan Open Chain together with various banks. We aim to circulate Japan's first bank-issued stablecoins domestically and internationally, and plan proof-of-concept experiments with businesses that will utilize stablecoins.

Related Press Releases: https://www.jbfd.org/news/stable-coin-demonstration-experimen-orix https://www.jbfd.org/news/stable-coin-demonstration-experiment-begins

◽️ 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
Host: Pivot Tokyo Inc., Vueloo inc.
Official URL: https://www.web3bb.pivot-tokyo.com/