GOVERNMENT OF JAPAN PRIME MINISTER ANNOUNCES BIG INVESTMENT IN WEB3, NFT, AND METAVERSE UI — VR, AR, XR WORLDS, JAPAN LEADS WAY!
Previously published March 5, 2022 and updated October 16, 2022
But first, some backstory on the history of crypto blockchains in Japan:
Japan’s Financial Service Agencies “whitelisted” 20 virtual currencies in fall 2017 and it changed the entire world without anyone noticing
When regulation approved by a country that owns the most U.S. Treasury assets and has a 70% cash transacted economy, volatility and opportunity is worldwide.
Let me start off by saying my responsibility is to promote the Devcoin project. Yet, I felt that because Devcoin was something I was attracted to because of how many project’s life trajectory and even birth began with Devcoin’s existence, that I had to write something nobody really was saying in the cryptoverse — at least in English.
This article has to do with the Bank of Japan, Japanese Financial Services Agency approving a “whitelist” of 20 cryptocurrencies (document officially released as a PDF machine translated by Google to English — you’re welcome), and how the meme economy began with Counterparty and a tokenized incentive economy that Let’s Talk Bitcoin inspired the first one to bring Counterparty protocol and create tokens to Japan, officially founding the first Bitcoin related company via Counterparty in Tokyo within month’s of the fall of Mt. Gox, operated by Tibanne, a company by 99% owner of the exchange, Mark Karpeles — a Japanese resident of French nationality. But before that, understand Japan’s unique publicly traded, Belgian modeled Bank of Japan just announced negative interest rates for the first time… ever. Here’s what that means and how it stacks up:
They usually say negative interest rates and lower interest rates are a sign of inflation or that the rates going too high make people run for safe havens like gold and out of equities in the US. But Japan doesn’t seem to care, with a 70% cash economy and just completing a 32+ year recovery from the fall of its stock exchange index, the Nikkei has climbed all the way back from what they called the video game bubble burst of the 80’s. What this means to me in a Bitcoin sense? Well, I’d rather let Koji Higashi articles I’ve curated in the next part of this entry help you realize a little bit about how we need to look outside of the United States and more at who holds United States Treasury assets to understand how we can benefit mutually. Money is as tied to the circumvention tokens provide to traditional banking as Bitcoin is to the evolution of the internet into a mesh network of all digital and electronic connections. Latency reduction and bandwidth plus clean and efficient code in a mathematical system can prevent theft, fraud, or worse — a crash of the world financial system. That is to say, the only thing between us and Japan is our international date line and ignorance of just how much has happened there that will happen here when the shift occurs. What shift might that be? Let’s say a worldwide lesson and change in perception of value and event fallout from the past that will make the future a lot less confusing, and a lot more truthful.
Also if anyone from Microsoft is reading this, hat tip to being the first corporation I found to register the domain and be issued a Certificate Authority for a website that runs a web wallet for a certain meme-currency layer that hybrid “ICO”’d and burned forking over or at least extending from Counterparty.io’s web wallet. Microsoft Corporation is the first company I’ve seen as the owner on the certificate auth for a web wallet. Keep in mind Redmond Washington is close enough to Seattle which has a gigantic Japanese community and Japanese company offices. It’s not shocking to see them join the “party” without announcing it here and why should they? DYOR.
PEPECASH and XCP were deemed first class virtual currencies in Japan by their FSA — and to find out why that’s not ridiculous at all, hopefully my introduction and the articles I linked by Koji Higashi who lived this journey as his creation extended to others creations — its no wonder 4 years later people here in the “Western” world are “rediscovering” the value of these creations. An even bigger moonshot coming is that $MONA was also on this list with many other Japanese native crypto assets and by extension MONAPARTY assets all fit the bill here by being created on Monaparty asset protocol based on both Counterparty and MonaCoin.
JAPAN DOES WEB3, IPFS, EVM, COUNTERPARTY BETTER ON THEIR OWN JAPANESE NATIVE CHAIN — MONACOIN (JANUARY 1, 2014)
The most exciting part came recently when this March a 30 page pro NFT, pro Web3 and Metaverse investment paper was recommended to the Prime Minister by his government elected officials (and Monaparty is ALREADY on Web 3, using IPFS, featuring its services that use IPFS on the front page of awesome.ipfs.io and digital signatures on local client side browsers to sign transactions for social media logins on Dapps of Web3 like discussion boards, logging into art and collector social groups with built in community markets and applications. Now the entire PM’s executive branch has announced Japan is buying in to Web3, etc. The truth is they already have community run Japanese native projects on the Web3 level already…)
The country has steadily been promoting investment in digital technology, including through tax incentives for companies that embrace a digital future. In his speech to Japan’s parliament, Kishida said the country will continue to focus on “supporting the social implementation of digital technology” and will “promote efforts to expand the use of Web3 services that utilize the metaverse and NFTs.”
Japan’s federal foray into Web3 follows a trend of officials taking strides to implement Web3-related services in the country — rather than following the typical bureaucratic route that policies must often travel through. Kishida’s administration recently established a Web3 policy office under the Ministry of Economy, Trade and Industry (METI), which is focused on creating policies for the country’s gradual blockchain expansion.
Update: Oct 4, 2022 article you can fins the Prime Minister is officially on board for Japan to become a hub and investor in a big way for Web3, Metaverse, and NFTs… The link to the March “NFT White Paper” in English that Japanese political reps wrote in favor is also found by this article:
In April, a task force launched by Kishida’s Liberal Democratic Party and led by politician Akihisa Shiozaki released an “NFT White Paper,” which called Web3 the “the new frontier of the digital economy” and outlined plans to advance the national strategy on Web3.
Japan is culturally and politically a source of this new Western English speaking world craze. It’s nowhere near its maximum economic potential either. That’s the beauty of extending Bitcoin with something everyone can create value and local economies with. That’s how money should be. That’s how innovation is inclusive. That’s how the entire world gets the best from its entire available talent pool.
And there you have it. The first government approved virtual currencies for exchange, trade, buy, sell, with fiat (JPY) and for fiat (JPY). Tech Bureau, Co. Ltd. was the parent of the Zaif.jp exchange “Zaif” who created their own Counterparty token as well for their whitelisted exchange. For the history I recommend reading the articles on medium by IndieSquare Ltd. (Tokyo Japan company) co-founder Koji Higashi:
IndieSquare partners with Tech Bureau, delivers “Zaif” mobile wallet
IndieSquare announces their new partnership with Tech Bureau, the company behind the popular Japanese cryptocurrency…
I was so wrong about the cryptocurrency regulation in Japan
Many of you in the cryptocurrency community might have already noticed that a lot of positive news is coming out of…
Rarepepe is the most innovative project in the crypto space…Seriously
You must have heard of this “tradable Rarepepe” thing by now if you are in the crypto space. The user generated “pepe…
History of Vintage Bitcoin NFTs in Japan: The Almost Forgotten Part of NFT History
Spells of Genesis (SoG) and Rarepepe have recently been “rediscovered” by the NFT community and have come back to life…
A little background on Japan’s western adopted financial and governmental systems is notable in this context. For one, Japan leads the way in government agency crypto regulation by their first whitelisting in 2017 by the “JPFSA”, and the US will sure be following if not privately already getting ready to issue official documents like the PDF I machine translated from Japan’s landmark regulation number 1 by a government on bitcoin related ‘virtual currencies’ in 2017. The US and Japan have been tied together financially since the Meiji Era when American’s had come in and trained the Japanese military, or Europeans who modeled the Bank of Japan after the Belgian Central Bank in 1882, but that is a whole other story. English speakers in North America especially are just ignorant to Japanese culture because of the distance and language barrier. The Japanese population may unintentionally be a mostly unaware of things American culture values as well since only 2% of Japanese people can speak and understand English. They’re fine with their own culture and at times our cultures seem to cross in a way where a craze begins for both of us. With Japan, it may have been their adoption of baseball that is the best example for cultures adopting another’s creation that even today doesn’t have too much of a world reach. In the US, we all lived through Pokemon, Dragonball Z, and other Japanese cultural phenomena that crossed the Pacific and had a crazy high adoption by way of consumption whether collection or just watching cartoon network after middle school. Before that, Nintendo. You get the point.
Here’s some of the things that matter to the entire economics of it all that I can’t possibly coherently write and explain. So I present this chart may give you reason to start visiting more Japanese crypto sites:
Japan is very invested in the U.S. and we are very invested in them as well. Japan is the biggest gateway to the West in the “Far East” — their culture is very tolerant and modernized when it comes to tech. As the FSA virtual currency whitelist cautions the usual about cryptocurrencies being volatile and not being legal tender back by any government assets, it establishes the value via the following statement classifying the 20 cryptocurrencies on the list as:
Electronic currencies are traded on the Internet.
Electricity has a real world value. We don’t have to go further.
I wanted to explain this because IndieSquare was a mobile app and website as well as a company based in Japan that Koji Higashi co-founded with every feature Counterparty created tokens needed to run apps inside, exchange, create tokens through the app itself (json files for some Rare Pepe’s still show indiesquare URL in my FreeWallet desktop app before displaying the additional information for metadata that links the art and descriptions to the current xchain.com asset page for the Counterparty token that goes with it). A pretty wealthy Counterparty and Rare Pepe collection investor and trader on twitter mentioned the IndieSquare.me app is where he began is journey to becoming a multi-millionaire in Counterparty wealth:
Opportunity is not always surface level apparent, or in english language. My advice? Use tools to find your way like I’ve done here. Try taking risks if you believe in something like buddhaAF did in 2016 by using IndieSquare — at the time recommended to buy XCP by myrarepepe.com, the first blog site that was WordPress powered and would announce the addition of Rare Pepe’s to the collection to the public. The site has moved and extended its menu to a directory of the 1774 cards and tutorials/history and a What is PepeCash? page at rarepepedirectory.com.
If you wanna read tweets about the Bank of Japan and why its modeled after the Beligan central bank, as a result making the BOJ one of four central banks that have public traded shares available to trade on stock exchanges (8301.T on Yahoo! Finance, OTC traded thru Tokyo Stock Exchange) — the other three Belgium (home of the European Union, ECB), Switzerland (home of the Ethereum Foundation), and Greece (home of the 2008 World Financial Crisis/Greek Debt Crisis — saved by the Euro).
Still don’t think my BOJ interest matters? What about how I am able to gather information on Monaparty assets by using page translating tools or even Twitter having the option to translate tweets by Monacard twitter integrated accounts for the cards I buy at card.mona.jp and collect as tokenized assets in my MonaCoin wallet address and can view in my MPurse MONA/XMP + Monaparty tokens chrome extension wallet or even send through Emblem Vault via emblem.finance to OpenSea.io?
I mean their central bank has an English twitter account (yes, they have a Japanese one too, obviously). do you understand we’re coming to a connection in things that are just as valuable as money and technology via better and more accurate communication?
[Note: the Twitter link won’t render which is suspect since most every other one always will on Medium — welcome to the splinternet my name is Morpheus]
When Satoshi published a white paper to a select group on a mailing list on October 31, 2008 — he did so with a system of previously published references that he tied together into a system in a way no one had previously done. He did the first publicly known implementations with Hal Finney (from the list) and then released the first public software client in his February 11, 2009 post on the P2Pfoundation.net. We must be open minded and honest about two things. Time leads to advancements we never thought possible to solve problems in someone or some group’s created system by using those technological advanced tools in a way that people can be empowered and protected by — like Bitcoin did for solving the Byzantine General’s Problem. The second and final thing is that we must be open to the fact that Bitcoin began as a no value, non-tested messaging software that kept distributed records to verify messages sent. We need to realize extending Bitcoin and not just adopting the block reward created bitcoins or BTC as money is the end solution and use case. Counterparty adoption has had a beneficiary effect in that regard. As technology extends, so will the protocols. Secured by Bitcoin.
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COUNTERPARTY (XCP) 1FMqGvthcqsdRRqPFN2XTBMtUvXzn4ScpS <<<
MONACOIN (MONA) >>> MNoZz13ejTGoz7sR6MeM5q5YNpGG7gwiaA
Thank you Mona community for allowing USA, n00bs like me into your amazing incredible community run collection of amazing works of art, apps, tech, commerce, and social media!!!