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Japan has consistently been a leader in the tech industry, so it’s a logical step forward that, given current trends in the space, the Cool Japan movement might incorporate Web3 to strengthen its initiative. Bringing Web3 into the mix alongside the popular culture aspects of the movement could prove a
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Several Japanese tech and finance giants have signed a document to create the Japan Metaverse Economic Zone, a multipurpose virtual universe that will have its base in a platform called Ryugukoku. The virtual world will allow these companies to share their technology with users as it lets them roam this
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The goal of the metaverse alliance is to help build the framework for corporations to tap into Web3 marketing, work reform and consumer experience initiatives, the press release said. RYUGUKOKU (TBD) will serve as a virtual world to connect users to different Web3 services created by companies and government agencies. Source
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Interest in the metaverse is accelerating at a global rate, with countries all over the world joining in the rush to get involved.In Japan, a country often associated with its legacy technology sector, a group of well-known tech companies entered into an agreement on Feb. 27 to forward the creation
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While FTX customers across the world patiently await Sam Bankman-Fried’s (SBF) legal conclusion in hopes of getting back their investments, users of FTX Japan have started withdrawing all of their funds.On Nov. 7, 2022, crypto exchange FTX and its subsidiaries halted all funds withdrawal after SBF was accused of misappropriating
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Bankrupt crypto firm FTX’s subsidiary in Japan has reported thousands moved from the exchange since resuming withdrawals on Feb. 21.In a Feb. 22 announcement, FTX Japan said users of the exchange and those at Liquid Global had withdrawn roughly 6.6 billion yen — $50 million at the time of publication
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The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency
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According to a press release on Feb. 20, FTX Japan, the Japanese subsidiary of troubled cryptocurrency exchange FTX, announced that the withdrawal of users' fiat currency and crypto assets would commence via the Liquid Japan web platform at 12:00 p.m. on Feb. 21. In Nov. 2022, FTX Japan halted operations after
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The announcement meets a promise made in December by the ring-fenced exchange. Source
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The bank plans to invite private companies to participate in a CBDC Forum, which it will set up. As the CBDC effort intensifies across many countries, the Bank of Japan has launched a pilot program for its CBDC. The executive director for the central bank, Uchida Shinichi, talked about the development
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