Japan is embracing Web3 and DAO developments, as highlighted by a recent government-affiliated white paper calling for faster developments in the country. The paper argues that a greater understanding of blockchain technologies and smart contracts employed in DAOs is needed to "unlock their potential" as a tool for regional revitalization and social engagement. Fracton Ventures, a Tokyo-based Web 3 incubator focused on DAO infrastructure development in Asia, hosted the recent DAO Tokyo conference, which provided a rare opportunity to share ideas across what remains an East-West knowledge and capability divide. While Japan has some catching up to do to compete with its neighbours Hong Kong and Singapore, events such as DAO Tokyo represent nothing but an upside after the crypto market pummelling of 2022, say industry commentators. (forkast)
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