TEAMZ 2024 Summit Review: The Future of Japan's crypto market is Promising

Recently, a summit focusing on the integration of Web3 and AI technologies was held in Tokyo. This summit brought together over 500 industry experts, more than 200 blockchain and Web3 companies, and over 600 team members to engage in in-depth discussions on topics such as decentralized AI infrastructure, AI-driven data interoperability, and the impact of AI on public goods within the Web3 framework. The summit also explored how AI can drive the application of Web3 technology across different industries, providing an important platform for researching future technological synergies.

Key Highlights

Stablecoin Market Outlook

In 2024, Japan's stablecoin market is expected to see significant growth. A trading platform is collaborating with Mitsubishi UFJ Trust and Banking Corporation to launch stablecoins pegged to major currencies like the yen by the end of the year. Japan's latest regulatory framework requires that only licensed institutions can issue stablecoins to ensure the stability of the financial system. This has prompted several companies, including Orix Corp., to begin exploring stablecoin businesses, which are expected to facilitate faster fund transfers and more efficient settlements. These developments highlight Japan's proactive stance in promoting the use of stablecoins, setting a benchmark for the global stablecoin market.

New regulations for investment funds

The Japanese Cabinet has approved a bill allowing investment funds and venture capital companies to invest in encryption, marking the formal inclusion of digital assets into traditional investment portfolios. This decision paves the way for venture capital firms to become more actively involved in the encryption and blockchain industries. The new regulatory changes reflect Japan's strategy to modernize the financial services industry through advanced technology, while also indicating a growing recognition of the potential of digital assets to reshape investment practices. These developments are expected to attract more institutional investors into the crypto market, potentially increasing financing opportunities for Japanese blockchain companies.

NFT and intellectual property development

In Japan, NFTs and related intellectual property are rapidly developing in areas such as collectibles, sports, and blockchain gaming. Businesses and individuals are actively exploring the creation and trading of IP-based digital assets through NFTs, fully leveraging the unique advantages of blockchain technology. Many Japanese companies are delving into NFT-related businesses, developing platforms and applications that expand the scope of NFT applications beyond art and entertainment, covering areas such as copyright management, content creation, and distribution. This enables creators and IP holders to directly offer unique digital products and services to consumers while effectively protecting and monetizing their intellectual property. With technological advancements and market developments, NFTs are expected to play a more significant role in Japan's intellectual property sector, bringing new revenue streams and creative avenues for creators and providing consumers with a richer digital experience.

Looking to the Future

Overall, the summit showcased the innovative achievements of numerous global companies and provided an important discussion platform for future technological integration. Japan has made significant progress in the large-scale application of cryptocurrency and AI technology. Industry insiders hold an optimistic view of the prospects for Japan's crypto market in the next 3-5 years, expecting more funds to be invested and more regional activities to be held to support the development of Japan's crypto ecosystem.