Astar Foundation Founder, Sota Watanabe recently attended the Web3 Festival 2023 Hong Kong to present the Web3 Japan market to the world. He introduced the audience to the country’s growing industry and the opportunities it holds for startups, investors, and entrepreneurs worldwide.
Astar Japan is an organization that gathers Web3 startups and companies to work towards the development of blockchain technology. It is a dynamic force that drives the growth of Japanese businesses and services by conducting extensive research and development, curating in-depth knowledge, and fostering strategic collaborations with exciting and established companies.
NFTStudio24 is also a member of this prestigious community, driving forward by helping international companies integrate their products/services into Japan and vice versa.
As the world continues to adopt Web3, Metaverse, and Blockchain, Sota Watanabe, who is also the CEO of Startale Labs, took the stage to explain how the Japanese market is building using this newly emerging technology.
The country is already well-advanced when it comes to technological adoptions, now Web3 is the new excitement that resonates in the Japanese market. Furthermore, the Japanese government & authorities are also showing their full support, especially the Prime Minister, Fumio Kishida.
Astar Network is actively building a Web3 community where experts and professionals can work together to develop the overall industry.
Sota’s attendance at Web3 Festival 2023 Hong Kong is significant. The country ranks among the few who are leading in the blockchain and DeFi industry.
Hong Kong’s booming Crypto market
Hong Kong is striving to emerge as a leading crypto hub in the region by implementing a regulatory framework in June. However, the proposed framework is facing criticism for its highly restrictive nature. The rule includes background checks on issuers and developers for listed tokens.
Recently, the Hong Kong Security and Futures Commission announced that DeFi projects will be subject to full regulation. This adds to the mounting concerns of overregulation within the industry.
Nonetheless, many banks and financial institutions within the country are interested in integrating cryptocurrency and DeFi into their infrastructure. This indicates a growing market in Asia.