Japanese port city wants to become the Web3 hub for the country

In Japan, the metropolis of Fukuoka is looking towards the aboriginal of Web3 successful its latest concern with Astar Japan Labs - the institution down Japan’s starring blockchain, the Astar network.

Fukuoka is the country’s second-largest larboard metropolis and has officially been designated arsenic a National Special Strategic Zone. Now it besides plans to go the country’s hub for each things Web3 and crypto.

The Astar Japan Labs concern volition let some entities to enactment unneurotic connected caller usage cases for Web3 technologies. Fukuoka joins much than 45 companies moving with Astar, including Microsoft Japan and Amazon Japan.

According to the announcement, the metropolis wants to pull global, competitory businesses to the area. Representatives from Astar volition regularly sojourn the metropolis to supply acquisition and new usage cases some locally and passim the country successful collaboration with section governments.

The Mayor of Fukuoka, Soichiro Takashima, besides stood down the city’s caller aspirations successful Web3:

“We person to bash successful the discourse of Web3 what ample companies did for the satellite erstwhile Japan was strong."

Astar Network founder Sota Watanabe likened the city’s cognition toward crypto to those starring the crypto country abroad. “In the US, immoderate cities similar Maimi and New York person affirmative attitudes toward Web3 and crypto. We are going to enactment intimately with Fukuoka City to pull much developers and much entrepreneurs."

Related: Which countries are the worst for crypto taxation? New survey lists apical five

This caller improvement comes aft a flurry of changes successful Japan regarding the crypto and Web3 scene. 

The state has been touted arsenic 1 of the toughest successful presumption of crypto regulations, which person the imaginable to deter its allure. On the different hand, it besides recently loosened a acceptable of regulations arsenic to listing caller currencies connected authorised exchanges.

On Oct. 3 the Japanese premier curate said successful a code that the authorities has plans of large concern successful Web3 and metaverse initiatives.

The government precocious utilized nonfungible tokens (NFTs) to reward section authorities.