Two of the world’s busiest train stations are located in Shibuya Ward, which is the financial and economic center of Tokyo. This region is also considered one of Japan’s IT hotspots, notably for major domestic and international companies such as Google. Big businesses in Japan have made metaverse news with plans to establish a “Japan Metaverse Economic Zone” in the metaverse.
Shibuya to develop web3 strategy
According to the announcement, Shibuya will utilize Astar’s experience working with Japan’s leading companies to develop a Web3 strategy and host related events. The program, which is backed by Astar Network’s extensive ecosystem, will prioritize Shibuya’s web3-centered Startup Support efforts.
Although the future Startale Labs headquarters, founded by Astar Network CEO Sota Watanabe and headquartered in Singapore, will be located in Shibuya, this was not their first encounter. Startale Labs produces the core dApps and infrastructure for Astar’s WASM ecosystem, including wallets, lending platforms, and NFT marketplaces. It provides business consulting services based on its competence in designing multi-chain protocols and acts as the entry point for large enterprises to connect with Astar Network.
Sota Watanabe said Shibuya is the greatest metropolitan area for young people in Japan and the center of startup activity. Combining the words “bitter” and “valley,” the name “Bit Valley” is taken from a site in Shibuya and refers to Japan’s Silicon Valley. We feel privileged to have created our office in this area of technology and to have legally consented to the city’s use of web3 technology.
Astar Network connects Polkadot to layer-1 blockchains
Astar Network is a Japanese bridge connecting the Polkadot ecosystem to layer-1 blockchains such as Ethereum and Cosmos.
This is not the first time a Japanese behemoth has entered the blockchain business or implemented Web3.0 technologies, thus Shibuya Ward’s Web3.0 step is noteworthy. NTT Docomo, the main mobile operator in Japan, and Toyota, a major manufacturer, have previously partnered with Astar Network to promote Web3’s mass adoption and social deployment.
Astar and Sony have collaborated to create the Web3 Incubation Program, which aims to improve relevant technologies while supporting aspiring entrepreneurs in achieving early fame. In addition, Toyota is experimenting with Web3 innovations to generate innovative experiences that will eventually be integrated with particular recommendations to improve corporate processes.
NTT Docomo, which intends to become a market leader over the next five to six years by exploiting its mobile infrastructure, will invest up to $4 billion in Web3 to accelerate its growth in Japan.
With 329 blue-chip corporations participating, Astar Network’s national newspaper advertisement in Japan shattered all prior records. The advertising supported the efforts of the Japanese political elite to lead the country into the Web3 era. Sota Watanabe, chief executive officer of Network, is already aiding the government and several of its main corporate players in Web3 development.
Content Source: financefeeds.com
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