On April 13, Tokyo hosted the DAO Tokyo conference, dedicated to issues related to the technologies underlying decentralized autonomous organizations (DAOs).
The event was attended by representatives of such projects as Aragon, MakerDAO, Gnosis, Uniswap and ConsenSys. They discussed the potential of Web3 in the context of transforming society and the economy, as well as the prospects for DAOs and the challenges they face.
Specially for Cryplogger Web3-journalist Tamara Soykina prepared a report from the event.
Temple with centuries of history
The organizers of the first DAO Tokyo chose the Tokyo-based Kanda Myojin Shrine as the venue for the event. With over 1,300 years of history, this building has become a meeting place for technology enthusiasts who have gathered to network and discuss the latest developments in DAO.
The conference featured an impressive list of speakers. The latter shared their experience and knowledge about the technologies on which the ecosystem is based.
The event included ten panel discussions. Their participants discussed the prospects of the DAO, the challenges and opportunities facing the community. Attention was also paid to the potential of Web3 and the decentralized governance model to transform various social and economic aspects.
Prospects and challenges
During the panel discussions, experts noted that decentralization and blockchain technology are increasingly being used to solve real problems such as identity verification and financial inclusion.
According to experts, in this regard, it is extremely important to create systems that prioritize privacy and allow their participants to control data.
The conference emphasized that the technologies of the Web3 sector allow artists and other content creators to monetize work directly, eliminating centralized platforms or intermediaries from the chain. Thanks to this, there is a more equitable distribution of income, and creators get more autonomy.
The point where Web3 and games meet is an area of rapid growth with the potential to disrupt traditional gaming models and create new forms of exciting social interactions.
Experts noted that as part of the transition to Web3, developers need to fix a number of problems related to the distribution of power and control. Decentralized systems should focus on community participation and democratic decision making.
According to experts, just like blockchain games, DAOs have the potential to disrupt traditional models of ownership and governance, bringing greater fairness and inclusiveness.
However, there are many issues that projects should work on together to advance the adoption of Web3 and the decentralized autonomous organization model. Experts referred to such challenges as technical barriers, regulatory compliance and various social consequences.
Japanese cuisine and NFT
DAO Tokyo has gone beyond informative panel discussions and presentations, providing attendees with a range of exciting and exciting events.
One of them was the ability to generate a unique NFT from The Kanda Myojin AR collection. Participants also had a chance to taste traditional Japanese cuisine – onigiri and misoshira.
The ENS DAO team created an interesting initiative – 120 pre-registered participants of the event were given unique ENS Cards. These are non-contact “business cards” in NFT format, which confirm that their owners actually met at the conference.
We spoke to some of the speakers to find out why they agreed to speak at the event, what insights they took with them, and what they think about the future of the DAO.
Shibuya.xyz co-founder Jackie Wang said that DAO Tokyo brought together the DAO and the communities of the Eastern and Western parts of the world, creating an ideal atmosphere for discussion and mutual exchange of experience. Each decentralized organization is unique and requires a different approach, he says, so open discussions are the key to growth and collaborative learning.
Head of MakerDAO Regional Development APAC Joslyn Chang noted that Asia has a unique opportunity to play a leading role in shaping the future of the DAO through the many projects in this area. She sees participation in the DAO Tokyo conference as an important step in encouraging acceptance, cooperation and innovation in the region.
Curve Labs co-founder Patrick Rawson said he sees the DAO as a tool to encourage decentralization and democratization across industries. In his opinion, this approach leads to better results for most people.
He noted that DAOs are gradually moving from the virtual world to real spaces. This is especially noticeable in areas like biotechnology, agriculture and construction.
According to Rawson, Japan’s Web3 ecosystem has “energy” that hasn’t been seen before. He noted that Eastern DAOs are gaining momentum, while organizations in the US are facing regulatory restrictions.
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As Japan eased COVID-19 related restrictions, more offline events like Asia’s largest Web3 conference WEBX and the annual Japan Blockchain Week 2023 event series are on the way.
Given the current regulatory principles, the country aims to develop guidelines for stablecoin, NFT and DAO operators. The government has already made the growth of the Web3 sector part of its national strategy.
The Japanese cryptocurrency market will grow globally, so users should keep an eye on developments in the region.
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