Japan to Establish “Metauniverse Economic Zone” with Gamification and Financial Technology

02/27/2023 11:39 • Blockchain Briefs • 96 views

It is reported that a group of large Japanese companies, including Mitsubishi, Fujitsu and Mizuho, a banking giant, agreed to work together to create a “metauniverse economic zone” for the country, aiming at establishing an open metauniverse infrastructure. The big company group takes the goal of former Square Enix executives and JP Games CEO Tian Duanchuang as guidance, that is, to update “Japan” through the power of games. The new project is named Ryugukoku. The companies that signed the agreement will integrate their technologies and services, including gamification and financial technology, to build the technology infrastructure. Mizuho will provide infrastructure for the “yuan universe coin”, Mitsubishi will provide capabilities for the “web3 yuan universe financial function”, and Sompo Japan Insurance will be committed to the development of insurance and risk policies in the web3 era.

Big companies such as Fujitsu and Mitsubishi hope to create Japan’s metacosmic economic zone

Analysis based on this information:

A group of large Japanese companies, including Mitsubishi, Fujitsu, and Mizuho, has recently announced its collaboration to create a “metauniverse economic zone” for Japan. The project, called Ryugukoku, aims to establish an open infrastructure for the metauniverse, a virtual space created by the convergence of multiple virtual worlds, video games, and other digital interactive experiences. With the goal of updating Japan through the power of games, this venture takes the guidance of former Square Enix executives and JP Games CEO, Tian Duanchuang.

The idea behind Ryugukoku is to leverage the technology of gamification and financial services to create a unique and innovative virtual world that represents Japan. By integrating their different technologies and services, the participating companies will try to create a seamless virtual economy, where users can experience the full range of financial transactions, from payments and investments to insurance and risk management.

Mizuho, for example, will provide the infrastructure for the “yuan universe coin”, a virtual currency that can be used in the metauniverse. This currency will enable users to buy virtual assets, pay for services, and even invest in virtual startups. Mitsubishi, on the other hand, will provide the capabilities for the “web3 yuan universe financial function”, which includes smart contracts, decentralized finance (DeFi), and other blockchain-based financial services. Sompo Japan Insurance, a subsidiary of Sompo Holdings, will focus on developing insurance and risk policies that are tailored for the world of the metauniverse.

The vision behind Ryugukoku is both ambitious and fascinating. It aims to create a new kind of digital space that combines the best of the virtual and the real world, where users can create and explore new kinds of value, engage in meaningful social interactions, and experience Japan in a whole new way. The focus on gamification and financial technology is also interesting, as it shows how these two sectors are becoming increasingly intertwined, and how they can be leveraged to create new forms of value.

Overall, Ryugukoku is a project that deserves close attention, not only because of its innovative nature but also because of its potential impact on the digital economy in Japan and beyond. The idea of an open metauniverse infrastructure that integrates gamification and financial services is a powerful one, and it remains to be seen how successful this venture will be in realizing its vision. However, one thing is clear: the future of the digital world is becoming more and more exciting, and projects like Ryugukoku are leading the way.

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