Articles

NMKR in Japan

patricks-journey-to-japan-exploring-daos-and-nmkrs-strategic-vision
Tokyo
June 9, 2024
Articles
NMKR in Japan
NMKR in Japan

Introduction

Hey everyone, Patrick here, founder of NMKR. I recently had an amazing trip to Japan, which was a huge step forward for NMKR as we aim to become a leading NFT and token issuance platform in the country. This journey offered me the opportunity to engage with the vibrant blockchain community, explore the evolving landscape of decentralized autonomous organizations (DAOs), and further NMKR’s strategic goals. Here's a rundown of my experiences, the new DAO-friendly regulations in Japan, and our strategy for the future.

Trip to Japan

The main highlight of my visit was the Japan DAO event in Takamatsu. Emurgo invited us, and it was a fantastic opportunity to connect with key stakeholders and learn more about the practical applications of DAOs in Japan. While I was there, I also swung by the Blockchain Expo in Tokyo, where the Cardano Community had a booth. The level of engagement and enthusiasm was incredible, showing just how vibrant and forward-thinking the Japanese blockchain community is.

Emurgo’s Invitation to the Japan DAO Event

Being invited by Emurgo to the Japan DAO event was a game-changer. This event was all about promoting the establishment and utilization of DAOs for local development. Emurgo did an excellent job organizing it and brought together thought leaders from various sectors. The discussions were deep and meaningful, shedding light on how DAOs can play a crucial role in accelerating regional development projects like the Setouchi Art Festival.

DAOs in Japan

Japan is making waves in the blockchain world with its progressive approach to DAOs. The government recently released a whitepaper outlining new crypto laws, providing a clear legal framework for DAOs to register as Limited Liability Companies (LLCs). This regulatory clarity is a big win for fostering innovation and attracting international projects (CCN.com) (Internet Native Organization (INO)).

At the Takamatsu event, we delved into the practical applications of DAOs. The event featured discussions on how DAOs can boost local initiatives and included hands-on workshops about creating Cardano wallets and engaging more people in the Web3 space ( JAPAN DAO). The agenda was packed with valuable content, from explaining what DAOs are to showcasing real-world use cases and tools.

Agenda Highlights:

  1. Opening Address: The event kicked off with a welcome speech that set the tone for the day, highlighting the importance of DAOs in modernizing local governance and business practices.
  2. What is Web3? Hiromasa Hatanaka, President of Alyawmu, presented on blockchain, crypto assets, NFTs, Dapps, DID/VC, and DAOs. This session provided a comprehensive overview of the Web3 ecosystem.
  3. Explanation of DAO Structures: AiHub explained the different types of DAOs, including LLC-type DAOs and NPO-type DAOs, helping attendees understand the various organizational structures and their benefits.
  4. DAO Use Cases: Presentations from Bright Any Colors and the AiHUB Community showcased real-world applications of DAOs. We also learned about unique initiatives like Bonsai DAO, Udon DAO, and Kyoshima DAO.
  5. Web3 Tools Use Cases: Companies like Ticket Me (who we're also working with), ANGO, and ODK Solution introduced their web3 tools and how they integrate with DAOs, highlighting the practical tools available for DAO implementation.
  6. Panel Discussion on DAO Potential: Featuring Makoto Harada from Yoshinogawa City, Tokushima, and Yoshiaki Yukawa from Marugame & Takamatsu City, Kagawa, along with representatives from the Japan DAO Association. This session explored the potential of DAOs to transform local governance and business models.
  7. Workshop: Participants brainstormed how they could use web3 technology and DAOs for various projects, fostering innovative ideas and potential collaborations.
  8. DAO Voting Experience: Introduction of overseas DAO tools with Japanese support, including Yoroi wallet, NMKR, and Clarity. Emurgo’s Shunsuke Murasaki and high school senior Koyo Yamamoto led the session, providing a hands-on experience with DAO tools and voting processes.
  9. Networking and Q&A: The day concluded with a free exchange session, where participants could network, ask questions, and get hands-on guidance on using the tools introduced earlier.

NMKR's Japan Strategy

Our goal at NMKR is simple: become the go-to platform for NFTs and token issuance in Japan. To make this happen, we've translated NMKR Pay, NMKR Docs, the NMKR landing page, and soon, NMKR Studio into Japanese.

Short-Term Goal: We're launching a Proof of Concept DAO to show how effective DAO-based property management can be in Japan. This project will serve as a blueprint for future DAOs, demonstrating the benefits of decentralized governance and community-driven projects.

Long-Term Goal: We're aiming to standardize the DAO setup process and help businesses incorporate in Japan. With our partners Emurgo, Clarity Protocol, and the Japan DAO Foundation, we want to make it easy for businesses to leverage the DAO framework.

Community Engagement and Future Plans

One of the most striking things about my trip was the strong sense of community and collaboration within Japan’s blockchain sector. The Japanese community is deeply committed to using blockchain technology to improve local businesses and drive regional development. At NMKR, our strategy is to attract international businesses to work within the Japanese DAO framework, fostering global collaboration.

In Takamatsu, we met with local businesses and discussed how DAOs and crypto could enhance their operations. This kind of collaboration is essential for building a robust blockchain ecosystem. We also got some great media coverage, thanks to a Coindesk reporter who attended the event.

Conclusion

My trip to Japan was an eye-opener, reinforcing our commitment to pushing the boundaries of blockchain technology and decentralized governance. Engaging with the local community and learning from their experiences was invaluable. As we move forward, NMKR is set to play a crucial role in Japan's blockchain ecosystem, driving innovation and fostering global partnerships.

I'm really excited about the future and the potential collaborations we can explore. Together, we can build a decentralized future that benefits communities worldwide.

Future Plans:Next steps include deeper engagement with local stakeholders, expanding our educational initiatives, and advocating for regulatory advancements that support blockchain innovation. I can't wait to return to Japan and contribute to this dynamic ecosystem.

Thanks for reading!

Patrick

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