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Dialogue with Astar founder and Guo Yu: Discussing the future of Web3 and the potential of the Japanese blockchain industry

Listen to Guo Yu, a local entrepreneur and legendary programmer, talk about the Web3 environment and development prospects in Japan.

Interview and writing: Hideo Natsume East Ventures, Li Lucheng Z Venture Capital

Interviewees: Sota Watanabe and Guo Yu, the former is the founder of Astar Network, the latter is a former ByteDance employee and Web3 explorer

“I firmly believe that the arrival of the Web3 era will promote the growth of the Japanese economy.” This is a speech on Japan’s economic growth strategy delivered by Prime Minister Fumio Kishida, the head of state of Japan, at a meeting of the House of Representatives on May 26.

“Web3” may be the hottest new buzzword in the world right now, and it refers to services that do not rely on a specific Internet service, platform or company. Web3, which carries the idea of ​​decentralization, is grasping the dividends of the times, and it is irresistible to completely subvert the hegemony of GAFAM in the era of platformization. Countries such as the United States, Singapore, the United Kingdom, Portugal, and Dubai have also successively issued laws related to encrypted assets, all of which are promoting a new era that is about to emerge.

After entering 2022, compared with other countries in the world, Japan has launched a series of national strategies related to Web3 in a late-comer, first-come trend. The speech of Prime Minister Kishida mentioned in the preface and the “Digital Japan 2022” implemented by the Liberal Democratic Party’s Digital Society Promotion Headquarters also indicate that the trend of Web3 in Japan is unstoppable. However, tax issues and the regulation of crypto-asset exchange licenses have led to the flow of talent to countries outside Japan with more friendly regulations, which have become issues that need to be solved.

Meanwhile, China, once known as a virtual currency powerhouse, also made it illegal in 2017 for companies operating blockchain businesses to raise funds through token offerings (ICOs), and issued a ban on individuals and…

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