B Dash Crypto held
The Web3 (distributed web) specialized conference “B Dash Crypto” was held in Sapporo from May 24th to 26th. Key players in the industry gathered to share new initiatives and market prospects.
Nine teams participated in the pitch contest “Crypto Arena” held as part of it. Judges include Yusuke Otsuka of Coincheck, which operates a crypto asset (virtual currency) exchange, Junya Hirano of Hashhub, Ryuichi Nishida of B Dash Ventures, and Toshihiko Kamei of Fracton Ventures, leading the domestic industry. People were named.
A pitch contest is an event-style contest in which entrepreneurs and teams with excellent business ideas make presentations to judges and audiences within a limited time. Business feasibility, idea innovation, market suitability, profitability, etc. will be evaluated.
The winner of this year’s “B Dash Crypto” was “Umi Protocol,” which functions as a decentralized exchange (DEX) aggregator on high-speed blockchains Aptos and Sui. It serves to find the best trading price from various decentralized trading markets.
B Dash Camp 2023 Spring in Sapporo
Crypto Arena winners announced!
The winner of this year’s competition was “Umi Protocol”! 🏆
The runner-up is “LOCKON”!
—B Dash Camp (@BDashCamp) May 25, 2023
What are Aptos and Sui
Both were founded by the developers of Meta’s (formerly Facebook) Diem project. The Diem project has ended, but the developers have launched their own chains. Both projects implement Proof-of-Stake (PoS) consensus and have commonalities such as a smart contract language called Move.
LOCKON, a DeFi (decentralized finance) project that tracks profitable wallet addresses and provides index tokens based on them, was selected as the runner-up.
Other blockchain/crypto asset related projects such as KEKKAI, which provides tools to prevent NFT fraud, SNAFTY, an app that realizes NFT sales like SNS, and Turing Certs, which handles digital authentication information, also participated.
connection:Yuzo Kano to return to president of cryptocurrency exchange bitFlyer
Outlook for Key Persons
At “B Dash Crypto”, a wide variety of Web3-specific sessions were held, including IEOs (Initial Exchange Offerings), the outlook for the asset token business, and funding and regulations facing Web3 startups in Japan. Hirohisa Kunimitsu, the representative of Financier, who is developing a crowdfunding business using blockchain, and Yuzo Kano, who has returned to the post of CEO of the virtual currency exchange bitFlyer, discussed the matter with high-profile people.
A noteworthy session is “Japan’s version of stablecoin has started! ~Web3 whirlwind in the financial industry!?” On June 1, 2011, the revised Fund Settlement Act came into force, and there is a background to the issuance of stablecoins backed by legal tender in Japan.
[B Dash Camp Day 2 session report]
“The Japanese version of stablecoin has started! ~ A whirlwind of web3 will take place in the financial industry!?”
Noritaka Okabe (JPYC)
Hidekazu Kondo (GU Technologies)
Ken Kawai (Anderson, Mori & Tomotsune, Foreign Law Joint Enterprise)
Tatsuya Saito (Progmat / Mitsubishi UFJ Trust and Banking)… pic.twitter.com/1z3XqrRr2V
—B Dash Camp (@BDashCamp) May 25, 2023
According to the Nikkei Shimbun on the 31st, regarding the development of stablecoins in Japan in the future, Hidekazu Kondo, CEO of GU Technologies, which provides stablecoin technology to regional banks such as Shikoku Bank, said that many regional banks will be stablecoins. He revealed that he is considering issuing coins. In addition, Noritaka Okabe, CEO of startup JPYC, announced plans to complete the registration of a funds transfer business and issue yen-based stablecoins by the end of the year. Tatsuya Saito, product manager at Mitsubishi UFJ Trust and Banking, also suggested that the bank plans to issue a “progma coin.”
This “B Dash Crypto” was held at the same venue in parallel with “B Dash Camp 2023 Spring in Sapporo”. “B Dash Camp” is an invitation-only conference, boasting one of the largest scales in Japan.
connection:The amended Payment Services Act, which came into effect on June 1, will allow the issuance of domestic stablecoins, bringing benefits to multinational companies.