Japan’s Economy Ministry establishes a Web3 Policy Office to develop the country’s Web3 business framework.
by Japan’s Economy Ministry establishes a Web3 Policy Office to develop the country’s Web3 business framework. This comes after the University of Tokyo unveils a plan to offer engineering courses on the metaverse. The courses will be available to students ranging from high school to adult workers.
Strengthening the Framework for Developing the Business Environment in Relation to Web 3.0
In the Minister’s Secretariat, the Ministry of Economy, Trade, and Industry (METI) has established the “Web 3.0 Policy Office.” The new office will bring together the departments in charge of industrial finance, taxation, corporate systems (vehicles), and other business environment issues. As well as those in charge of media. Content, sports, fashion, and other industries. It will strengthen the framework for investigating the business environment. Issues related to Web 3.0 in collaboration with the Digital Agency and other relevant ministries.
Function
The use of tokens such as crypto-assets & NFTs as the foundation for creating new value. As well as the use of blockchains to manage and use data (Web 3.0), is spreading globally. Furthermore, as metaverses become new personal interfaces. Particularly among younger generations such as Generation Z, digital spaces and assets may become much more important, and their business value may skyrocket.
First, the potential risks associated with these trends will be accurately assessed. Furthermore, given that some entrepreneurs pursuing Web 3.0-related businesses are leaving Japan for opportunities elsewhere. Efforts to develop the Japanese business environment must be accelerated. Recognizing these issues, METI established a team (the Web 3.0 Policy Office) to develop policies through collaborative efforts of the various departments responsible for Web3.0. Which are currently dispersed across various bureaus within the Ministry.
The work’s description of Japan’s Economy Ministry Establishes Web3 Policy Office
The Web 3.0 PolicyOffice will gather information from organizations. Business operators, investors, legal professionals, engineers, and other parties. Regarding the issues facing Japan’s and overseas business environments. Work with the relevant ministries and agencies toward developing the business environment for Web
This comes after the University of Tokyo unveils a plan to offer engineering courses on the metaverse.
Notable Mentions from Japan
Other notable Metaverse applications in Japan in recent months include 29 NSG College League trade schools in Niigata holding their 2022 commencement ceremony in the Metaverse and launching a virtual support room for Hikkikomori in the SecondLife Metaverse platform.