Metaverse Expo 2023 in Seoul: Exploring the Future of the 3D Internet

Binance Set For Japanese Market Re-Entry With 34 Token ListingsBinance, the world’s largest cryptocurrency exchange, is gearing up to re-enter the Japanese market with a bang on August 14. According to a report published by local crypto media outlet Coinpost, Binance Japan is set to immediately list an impressive 34 tokens.The move will put Binance ahead of its domestic rivals, as the offering will be the most extensive in terms of the selection of tokens made available to Japanese customers.Photo by David Edelstein on UnsplashBNB token offeringIn addition to that, Binance intends to make its native token, BNB, available in Japan for the first time. Exchange tokens have proven to be controversial in recent times. In November 2022, FTX’s reliance on their native token FTT caused a run on the exchange which Binance started once it started to sell off the token. Similar concerns have been expressed ever since about a similar reliance within Binance relative to its BNB token.The expansion into Japan will likely prove a tonic for Binance, given the difficulties it has experienced in other markets recently. Regulatory pushback has forced Binance out of markets such as Germany, Belgium, the Netherlands, and Cyprus over the course of the past three months.The company has been actively working to comply with Japan’s regulatory environment. In a Twitter video posted in July, Changpeng Zhao (CZ), Binance’s Founder and CEO, expressed his excitement about re-entering the Japanese market. He praised Japan’s clear and progressive approach to crypto regulations, citing the well-established framework that dates back to 2017, as well as recent developments, including the opening up of crypto listing frameworks and the passing of stablecoin regulations in June.Roadmap to market re-entryBinance’s journey back into Japan started in November 2022 when it acquired 100% ownership of Sakura Exchange BitCoin (SEBC). The acquisition paved the way for Binance to be regulated by the Japan Financial Services Agency (JFSA). As part of this move, SEBC underwent a name change, rebranding itself as Binance Japan Inc. The company then announced in May its plans to re-enter the Japanese market.The re-entry comes after the JFSA had previously issued warnings in 2021 against Binance for operating in the country without proper registration. Now, with the acquisition of SEBC and its regulatory compliance, Binance has gained a foothold in the Japanese market once again.Binance Japan aims to provide a comprehensive suite of services to its Japanese customers. New users can access spot trading, Earn products, and the NFT marketplace, while existing customers can migrate to the local subsidiary starting August 14. The token offerings include a diverse range of assets, and the addition of BNB presents exciting opportunities for traders and investors in Japan.Rival exchanges such as Coinbase and Kraken have decided to halt their operations in the country as they struggled to adjust to Japanese market conditions. The move by Binance to re-enter Japan’s market will be closely watched to see if it can succeed where others have failed.

NS Studio and Factor Labs to Enhance Military Security with Blockchain TechnologyKorean game developer NS Studio announced on Thursday its collaborative research effort with blockchain-based security solutions company Factor Labs to boost the security system of its specialized virtual reality simulator used in military training centers and multinational security firms.Photo by Filip Andrejevic on UnsplashProtecting special combat forcesThe two companies signed a memorandum of understanding (MOU) to develop a blockchain-based security system to be integrated into military training equipment that aims to safeguard the identity and behavioral data of special combat forces. Factor Labs’ security technology and blockchain expertise will be integrated into NS Studio’s military training programs, facilitating safer training sessions.“Given the fact that special combat forces are important assets whose identities are considered national secrets, we want to amp up the security of the simulation programs that keep a record of their identities and behavioral patterns using blockchain technology,” the two companies said in a joint statement.“We have begun developing the necessary technology for this project and are preparing to implement the security program starting in the latter half of this year.”Blockchain’s role in military securityThis collaboration underscores the increasing role of cutting-edge technologies like blockchain in ensuring the security and privacy of sensitive data not just in the financial context but also in military and security contexts. The combined efforts of NS Studio and Factor Labs are poised to contribute to the advancement of secure training simulations for special operations personnel.

Japan’s Hokkoku Bank to Launch Local Digital Currency in SummerEarlier this month, Hokkoku Bank, a Kanazawa-based bank in Japan, announced its collaboration with Suzu City, local community-based credit union Kono Shinkin Bank, and blockchain service provider Digital Platformer to launch a local digital currency in Suzu, Ishikawa Prefecture this summer, according to CNET Japan.Promoting cashless transactionsThe digital payment system aims to promote cashless transactions in the local area and digitize Suzu’s customer rewards program, enhancing capital flow and productivity. The local digital currency service for citizens, Suzu Tochituka, and the retail customer rewards program, Suzu Tochipo, are set to launch in the summer of 2023.By winter 2023, Hokkoku Bank plans to issue the stablecoin Suzu Tochika for use within Suzu. Retail stores will be charged a 0.5% fee for transactions made with Suzu Tochika.Photo by Ivan Samkov on PexelsFrom city to prefectureFollowing its services in Suzu, Hokkoku Bank intends to form an alliance with towns in Ishikawa and leverage blockchain interoperability to introduce Ishikawa Tochika, a digital currency for use across the entire prefecture. This project’s goal is to establish a payment system that encompasses all financial institutions. In Suzu and Okunoto, both Kono Shinkin Bank and Hokkoku Bank will cooperate to distribute and promote the payment system.Other regionsTowns and local financial institutions in other regions are also committed to collaborating on local digital currency promotion to enhance residents’ convenience, streamline administrative work, and boost productivity. To ensure security, Digital Platformer’s new blockchain-powered payment system Shiki will record and manage transaction data, offering high traceability and protection against forgery and counterfeit.