Prime Minister Ishiba: "Web3 Is a Once-in-a-Century Opportunity"

Prime Minister Shigeru Ishiba of Japan has expressed his commitment to fostering the growth of the Web3 ecosystem.

On the 25th (local time), at the WebX Summit held in Tokyo, Prime Minister Ishiba stated, "Web3 is such a rare opportunity that it may come only once in a hundred years." He also said, "Web3 and artificial intelligence (AI) will drive a new future for Japan's economic revitalization, regional development, and global cooperation."

He went on to say, "The number of startups in Japan has increased by 9,000 over the past four years, now reaching 26,000," and emphasized, "Through the government's ongoing 'Five-Year Startup Strategy,' we will further expand support for the Web3 industry."

Additionally, Ishiba commented that Web3 would not only strengthen the financial industry but would also help activate rural economies. Citing blockchain-based local currency experiments in Ama Town, Shimane Prefecture, he explained, "Web3 is a new growth engine spanning both urban and rural areas."

Earlier that day at the same event, Finance Minister Katsunobu Kato also said, "We will build an environment for virtual assets (cryptocurrencies)," adding, "Virtual assets are well-suited for investment portfolio allocation," as he expressed a friendly stance toward virtual assets.