Japan Smart Chain: A Sovereign Blockchain Equivalent to Ethereum in Japan
Joichi Ito, President of Chiba Technical University, and Russell Cummer, Founder of Paidy, have come together to introduce Japan Smart Chain (JSC), a sovereign blockchain tailored for Japanese regulations. This initiative aims to bridge the gap between domestic regulatory requirements and the development of web3 technologies, enabling Japanese companies to embrace blockchain for various applications like payments and finance.
Japan Smart Chain is a public Ethereum Equivalent blockchain that aligns with Japan’s regulatory framework. One of its key features is the Mizuhiki Protocol, which embeds digital KYC/AML methods at the infrastructure level to reduce compliance burdens for operators and users. This protocol, along with a suite of eKYC tools, will be provided free of charge to JSC projects and end-users.
The mission of Japan Smart Chain is to streamline the Japanese blockchain ecosystem by focusing on consumer pain points and improving the overall customer experience. Its vision is to promote the widespread adoption of web3 in Japan by simplifying transactions and enhancing security measures.
By addressing regulatory requirements at the infrastructure layer, Japan Smart Chain aims to reduce redundancy and financial burdens for businesses operating in Japan. With principles such as sovereignty, security, safety, and scalability, JSC is committed to providing a secure and compliant platform for regulated on-chain services.
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