With Japanese Prime Minister Fumio Kishida’s strong support for Web3 and blockchain technology at the “WebX 2024” summit, Japan is rapidly becoming one of the global centers for digital innovation. As a platinum sponsor of the WebX 2024 conference held in Tokyo, UPCX faces a rare opportunity to expand its business in this vibrant environment further.
Web3 and Blockchain Technology: Policy-Driven in Japan
Since 2020, the Japanese government has implemented a series of policies promoting digital transformation, providing extremely favorable conditions for developing emerging technologies such as blockchain. At the summit, Prime Minister Fumio Kishida delivered a speech via video. He not only expressed his expectations for the innovative applications of Web3 and blockchain technology in solving social problems but also praised the active transformation of enterprises in these fields over the past year. Prime Minister Kishida emphasized the measures the Japanese government took to support Web3 startups, including tax reforms, regulatory adjustments, and direct investment in innovative technologies. These measures have jointly promoted the growth of startups and provided a friendly business environment for startups like UPCX.
Moreover, in his keynote speech at the summit, Economy, Trade, and Industry Minister Ken Saito expressed his desire to make Japan a global innovation hub for Web3. This vision includes leveraging Web3 technology to break down geographical barriers, enhance pricing power, and unlock higher revenue potential in multiple economic sectors, including finance, gaming, anime, music, and sports.
At the WebX 2024 summit, the speeches by Japanese Prime Minister Fumio Kishida and Economy, Trade, and Industry Minister Ken Saito clearly outlined the Japanese government’s full support for Web3 and blockchain technology. This provides an excellent opportunity for blockchain startups, especially companies like UPCX that focus on innovative payment solutions, to enter and expand their market. As an efficient open-source blockchain platform, UPCX’s unique advantages in its payment system align well with the Japanese government’s digital strategy and market demand, placing it in a favorable position in the intense market competition.
UPCX’s Unique Advantages
Due to UPCX’s core functions and technological advantages, the platform is significantly competitive in the Japanese market. The following are some key advantages of the UPCX payment system, which are crucial in the current rapidly developing digital environment in Japan:
- User-friendliness and payment convenience: UPCX’s design focuses on improving user experience and transaction convenience. By allowing users to set easy-to-remember custom names for their blockchain addresses, UPCX greatly simplifies the process of using and managing addresses, making it easy to share and recall addresses. Furthermore, UPCX’s card-based hardware wallet with NFC technology enhances payment convenience, allowing users to complete transactions by simply swiping their cards, which is not only fast but also secure.
- Asset stability and financial innovation: Market Pegged Assets (MPA) are another notable feature of UPCX. By issuing stablecoins pegged to traditional assets such as USD, EUR, and gold, it provides users with a means to avoid volatility in the crypto market. These stablecoins are backed by more than 100% of their value. At the same time, UPCX’s smart contract technology is used to automate and streamline financial processes, including automatic payments and settlements, providing a more efficient and secure platform for financial operations.
- Optimized technology foundation and efficient processing capabilities: UPCX is based on Graphene blockchain technology, which is renowned for its high throughput and stability. Multiple forks and improvements of Graphene have proven its efficiency in handling large-scale transactions. The adoption of this technology ensures that UPCX can effectively support a large user base and transaction volume while maintaining high performance.
- Security and multi-signature mechanism: Security is one of the core elements of blockchain technology. UPCX effectively improves transaction security by introducing multi-signature and third-party escrow services. Multi-signature ensures that transaction authorization requires verification from multiple parties, greatly enhancing security. At the same time, non-custodial services reduce intermediary risk, ensuring that assets are transferred directly between parties, reducing uncertainty and security risks during the transaction process.
- Quantum-resistant cryptography: With the development of quantum computing technology, traditional encryption methods face potential security threats. UPCX prepares for future quantum attacks by integrating post-quantum cryptography, protecting the security and integrity of the blockchain system. This forward-looking measure demonstrates UPCX’s commitment to maintaining the long-term security of its platform and user assets, even in a rapidly evolving technological environment.
- Direct Debit: Imagine a world where financial transactions go beyond just sending payments. With UPCX, you can receive payments too! Leveraging this unique feature, UPCX enables automatic payments on scheduled dates, much like direct debits in Japan, but available globally — all from your smartphone. It’s the smart, secure, and efficient way to handle your finances – anywhere you are.’
Through these technological advantages, UPCX not only occupies a place in the payments industry but also provides technical support for broader cultural integration.
The Fusion of Culture and Technology
UPCX is not just a technology provider but also a bridge for cultural exchange. Japan’s global leading position in areas such as gaming and anime provides an ideal platform for UPCX to showcase its technology integration. Through cooperation with these industries, UPCX can help creators and businesses break down geographical and financial barriers, achieving broader market access and revenue growth.
At this summit, UPCX received great attention and praise. UPCX’s Chief Marketing Officer Koki Sato participated in the discussion on the topic “Startup Support: How to Nurture World-Class Companies from Japan” together with distinguished leaders from the Tokyo Metropolitan Assembly and the Japan External Trade Organization (JETRO), exploring strategies for nurturing champion companies in Japan and globally.
To enhance the event’s influence and appeal, UPCX invited the popular idol group KLP48 and Olympic gold medalist Uyama Satoru to attend the event. Their participation not only increased public attention to the event but also showcased UPCX’s innovative ability to combine advanced technology with popular culture. Through collaboration with KLP48, UPCX will increase its engagement in the field of digital entertainment and further reinforce its brand engagement strategy.
In this way, UPCX aims to bring unprecedented value and convenience to users while contributing to Japan’s digital transformation. This fusion of technology and culture not only promotes economic growth but also strengthens international cultural exchange and understanding, exploring new possibilities for digital solutions on a global scale.