TechFlow news: Japan's Ministry of Economy, Trade and Industry (METI), the government body responsible for economic planning and policy, has recently launched a "Demonstration Project for Building Digital Public Goods Using Web 3.0 and Blockchain," aiming to develop novel practical use cases for blockchain technology in Japan.
The project has invited several industry leaders, including PwC, Rakuten, and NTT Digital, to participate in pilot studies.
The initiative will focus on four key themes spanning multiple sectors of the national economy. NTT Digital and Leaf will jointly establish a market for tokenized real-world assets (RWA). Leaf’s Sake World project will enable consumers to purchase Japanese alcoholic beverages while also owning digital collectibles in the form of NFTs. Rakuten will develop a smart contract-based platform for image rights management, while PwC will lead efforts on Web3-based intellectual property protection for content. The Hiroshima Web3 Association will utilize governance tokens on a distributed ledger to drive "regional revitalization." METI is providing six-figure funding support for each project, with the RWA market initiative receiving $307,000 in funding.
