LDP Working Group Proposes Web3 Industry Plan to Japan’s Prime Minister

Metaworld Global’s Web3-based shopping metaverse to be launched worldwide next monthHong Kong-based Metaworld Global’s shopping metaverse, MWCC, is scheduled for global release on Dec. 25. As a Buy-to-Earn (B2E) platform, it is expected to surpass the limitations of traditional online shopping by incorporating a Web3-based online store and offering a unique, rewards-based shopping experience for customers.“This will be a shopping mall that no consumer has ever experienced before,” said Lee Geun-ho, who is in charge of development at Metaworld Global.Photo by Lucrezia Carnelos on UnsplashForging a new digital frontierMWCC aims to become a decentralized commerce ecosystem built together by buyers, sellers and influencers. The ecosystem will run on tokens that can be used across several social settings, thus expanding the scope of cryptocurrency beyond traditional settings. It will also harness various blockchain technologies to create a social media-based consumer network, ultimately handing over digital ownership to shoppers.What also sets MWCC apart is that it will employ a multi-purpose middleware to carry out global-scale commerce activities such as intermediary payment and copyright monetization via NFT marketplaces, among others. Notably, the platform plans to mint high-value, collectible NFTs.Supporting all participants in the shopping processSuppliers within the MWCC network who own manufacturing facilities will be able to export their products to over 200 countries through the platform’s promotion and logistics systems. Sellers can also use social media to sell their products to customers overseas and get their transactions settled in real-time. In turn, these customers can easily purchase Korean products without the hassle that is usually associated with making payments on overseas online shopping sites.“MWCC offers benefits for buyers, sellers and suppliers, which will serve as the base for a new operation system in the digital era,” Lee explained.

Japanese Expansion Sees XDC Network Pair Up with SBI SubsidiaryThe XDC Network, a leading carbon-neutral, enterprise-grade hybrid blockchain solution formerly known as XinFin, is gearing up to make inroads into the Japanese market through a partnership with SBI VC Trade, a cryptocurrency exchange subsidiary of Tokyo-based financial holding company SBI.On May 31, the Singapore-based team behind XDC Network announced its addition to SBI’s crypto exchange subsidiary, marking an important milestone in their expansion efforts. Fumiki Ozaki, CEO of SBI VC Trade, expressed his excitement about the partnership, stating, “We are delighted to expand our cryptocurrency offerings by adding XDC to our exchange. XDC Network brings a unique value proposition to the trade finance market, and we believe its addition will enhance our customers’ trading experience.”Photo by Denys Nevozhai on UnsplashToken gainsThe XDC token has been gaining significant traction recently, becoming one of the top 5 altcoin gainers in March 2023 with a 54% rise in just 30 days. The network supports Ethereum Virtual Machine-compatible smart contracts, protocols, and atomic cross-chain token transfers. It also complies with the ISO-20022 message standard, which is widely accepted for electronic data interchange between financial institutions.This particular announcement on Wednesday has resulted in XDC token appreciation of 10% over the past 24 hours alone. At the time of publication, the project’s native token stood at a unit price of $0.03456.Ecosystem development decentralizationIn a move towards decentralization, the XDC Network recently established a decentralized autonomous organization to govern the blockchain. With its deployment in May, the community will have a say in the distribution of ecosystem funds to foster further development.While the project team behind the blockchain network believes the network itself to be decentralized, many projects in crypto have grappled with the difficult issue of governance. XDC Network’s DaoFin project exemplifies its efforts to achieve a more equitable and decentralized form of network governance.SBI delving deeper into cryptoAtul Khekade, Co-founder of XDC Network, expressed enthusiasm about expanding into Japan, stating: “Japan serves as a crucial hub for international trade, and our blockchain platform aims to streamline this sector by improving transparency, traceability, and reducing costs.”SBI is also making strides to strengthen its presence in key cryptocurrency markets. In September 2022, it obtained a license to operate in Singapore, expanding its reach beyond Japan. Additionally, one of SBI’s portfolio companies, digital asset trading technology firm Clear Markets, received approval from the United States Commodity Futures Trading Commission (CFTC) to offer over-the-counter crypto derivatives products with physical settlement.In 2018, SBI partnered with crypto lender Amber in forming a joint venture company in order to take on the Japanese market. It pursued a similar strategy with crypto custody service provider Zodia Custody, forming a joint venture subsidiary to assist it in gaining exposure to the Japanese market.The partnership between XDC Network and SBI VC Trade signifies the growing interest in blockchain technology and cryptocurrency in Japan. By joining forces, XDC Network and SBI VC Trade aim to revolutionize the trade finance market by leveraging the transparency and efficiency of blockchain, ultimately benefiting businesses and consumers alike.With the shared vision of advancing the adoption of blockchain technology, both parties are poised to make a significant impact on the future of trade finance and digital asset trading.

Dunamu Distributes 4,100 NFTs for Climate Change CampaignDunamu, the operator of the South Korean cryptocurrency exchange Upbit, announced that it has distributed 4,100 non-fungible tokens (NFTs) from the Climate-sensitive Biological Indicator Species (CBIS) list in collaboration with four agencies under the Ministry of Environment — the National Institute of Biological Resources, the Nakdonggang National Institute of Biological Resources, the Honam National Institute of Biological Resources, and the National Institute of Ecology. This comes as part of efforts to raise awareness about the importance of biodiversity and habitat protection amid the threat of climate change.Photo by Yiju Cheng on UnsplashThemed NFTs for conservationThe CBIS list outlines species whose seasonal activities, habitat area, and population size are susceptible to being impacted by climate change, thus requiring continuous observation and management by the government.Dunamu, along with the four environmental institutions, minted NFTs representing 15 different species from the list — such as the white eye bird and the camellia tree — to distribute to participants of their Resource Circulation Climate Action Campaign.The latest round of NFT distributions was carried out in collaboration with the Honam National Institute of Biological Resources from May 19 to August 11. It is the first of four to be carried out over the course of the year following their initial announcement to do so in May.Empowering climate action beyond boundariesParticipants showed a positive reaction to the utilization of emerging technologies such as NFTs and the metaverse, which enabled them to contribute to climate change efforts without the limits posed by time and space. By organizing fun missions within the metaverse and gifting NFTs to participants, Dunamu and the environmental agencies were able to highlight the severity of the climate crisis while simultaneously making the concept of resource circulation more accessible and easier to understand. Dunamu reported that during the three-month period of the first campaign, the designated campaign space within Dunamu’s metaverse platform, 2ndblock, also racked up a cumulative visitor count of 73,000 users.The second campaign has also commenced and is running from now until October 2. This time around, Dunamu is working with the Nakdonggang National Institute of Biological Resources to issue 1,000 NFTs of four species: the tree frog, barn swallow, kumgang minnow, and little egret. Noteworthy artists will also contribute to creating the NFTs, including those from the Botanical Artist Society of Korea.In order to partake in the campaign, participants must complete the stamp-collecting mission in the campaign space on 2ndblock. Lucky participants who are chosen to receive NFTs must register their issued gift code on Upbit’s NFT marketplace.“As a result of our deliberation on ways to contribute to the environment and society with our technology and resources, many people have shown interest in our online and in-person climate efforts,” said Lee Sirgoo, CEO of Dunamu. He also expressed hopes for continued participation and support for the remaining NFT distributions and campaigns to promote environmental protection and biodiversity conservation.This collaboration between the private and public sectors which combines online and in-person activities stands out as an innovative method for combatting climate change.