News Report SMW Technology
April 21, 2023

Bridging the Gap: Exploring the Convergence of DAOs in East and West at DAO TOKYO

Bridging the Gap: Exploring the Convergence of DAOs in East and West at DAO TOKYO

DAO TOKYO was a prominent conference focused on decentralized autonomous organizations (DAOs)—blockchain-based entities that enable community governance and decision-making. The event occurred on April 14, 2023, at the scenic, nearly 1,300-year-old Kanda Myojin shrine in Tokyo, Japan. DAO TOKYO brought together leading experts, entrepreneurs, investors, and enthusiasts in the DAO space from Japan and around the world.

An impressive lineup of keynote speakers from various sectors of the DAO ecosystem, including the Gnosis Guild, LENS, ConsenSys, Tally, Aragon, 1inch Network, and more, discussed the need for interoperability and collaboration between different blockchain networks and the challenges of achieving mainstream adoption of web3 technologies.

The conference also focused on the importance of building DAOs that prioritize community participation and democratic decision-making. Panelists emphasized the potential for DAOs to disrupt traditional models of ownership and governance and enable greater equity and inclusivity. However, they also acknowledged the challenges of addressing governance and participation issues and the need for a shift in mindset towards collaboration and decentralized decision-making.

The conference highlighted the intersection of web3 and gaming, which is an area of rapid growth and innovation with the potential to disrupt traditional gaming models and create new forms of immersive social experiences. The potential of web3 to promote greater privacy and security for users, particularly in the areas of identity and personal data management, was also discussed.

Overall, the conference provided a valuable platform for exploring the opportunities and challenges of the new paradigm for organizational governance and decision-making that DAOs represent. It also highlighted the need for greater education and outreach to onboard new users to the Web3 ecosystem and user-friendly interfaces and tools that can help reduce technical barriers. 

Finally, the event underscored the importance of addressing issues related to security, sustainability, and inclusivity in the development of DAOs and web3 technologies.

DAO Tokyo

In addition to the insightful panel discussions and keynote speeches, the DAO Tokyo conference also featured an NFT Mint campaign of The Kanda Myojin AR NFT, designed in purpose to commemorate the 2023 DAO TOKYO event that took place at the Kanda Myojin Shrine. The event also had an onigiri (Japanese traditional rice balls) corner and a booth, arranged by ENS DAO, where 120 pre-registered participants of the event were handled with an NFT badge called POAP that proves that participants have met by tapping an NFC card on their smartphones. 

DAO TOKYO conference was a dynamic and informative event that brought together some of the brightest minds in the web3 space. Makoto Inoue, a core developer at ENS DAO, believes that DAOs are not the end goal but rather a tool for managing organizations such as Defi and NFT projects and sees now as an excellent opportunity to participate in DAOs as next-generation projects begin to take shape, even though the cryptocurrency industry is currently experiencing a winter period. He also hopes that more tools will emerge to make it easier to participate in DAOs.

According to Patrick Rawson, co-founder of Curve Labs, he is excited to see DAOs expand into the real world and out of the virtual or metaverse domains. He hopes to see an increase in DAOs in various industries, including biotech, agriculture, and construction, among others. Rawson believes that the introduction of new and fairer forms of governance through DAOs could lead to better and more efficient outcomes for the majority of people, especially in industries traditionally dominated by private corporate entities.

Jacky from Shibuya.xyz believes that the future of DAOs lies in intentional and progressive decentralization rather than simply pursuing decentralization for its own sake. Jacky emphasizes the importance of taking time to build the right systems, trust, and community for successful decentralization, as prematurely optimizing or over-engineering can lead to inefficiency in many DAOs. Ultimately, Jacky suggests that focusing on the mission and the people involved in the DAO, with a high-integrity mindset, will naturally resolve most issues over time.

DAO TOKYO took place at a time when Japan’s regulatory and political environment for crypto and web3 technologies is evolving rapidly. The Financial Services Agency of Japan’s reported plans to lift restrictions on foreign-issued stablecoins in Japanese exchanges could have significant implications for the DeFi ecosystem in Japan and the wider region. Furthermore, the Japanese government’s announcement of plans to invest in NFTs and the metaverse highlights the increasing recognition of the potential of web3 technologies to transform various sectors of society and the economy. As such, the DAO TOKYO conference provided a timely and valuable platform for exploring the opportunities and challenges of this new paradigm for organizational governance and decision-making.

Overall, the conference was a great success, and it is exciting to wait for the continued growth and innovation in the DAO ecosystem in Japan and around the world.

With the easing of COVID-19 restrictions in Japan, the prospect of many upcoming offline events is on the horizon. Here are some of them:

  • WEBX is one of the largest web3 conferences in Asia, planned and operated by CoinPost, the largest crypto media in Japan. On April 12, it was announced that Japan PM Fumio Kishida is scheduled to speak online at WebX Asia.
  • Japan Blockchain Week, organized by NFTokyo, will comprise three events, including the Web3 Summit Tokyo on June 12th, the WEB3 BIZDEV SUMMIT -BLUE- on June 18th, and the IVS Crypto 2023 KYOTO from June 28th to June 30th. While the IVS Crypto event will be hosted by the IVS Kyoto executive committee at the Miyako Messe in Kyoto, the blockchain week will primarily focus on NFTs, fungible tokens, and cultivating a thriving crypto industry.

And, if you missed this DAO event but would like to attend another, Dennison Bertram from Tally tweeted about the two upcoming events: DAONYC, which will take place in September, and DAOIstanbul, planned for November. 

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About The Author

Tamara Soykina, a crypto journalist, twitter influencer, event speaker and market reporter from Japan. Maintains her own columns in Yahoo.Finances, Investing.com and many more.

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Tamara Soykina
Tamara Soykina

Tamara Soykina, a crypto journalist, twitter influencer, event speaker and market reporter from Japan. Maintains her own columns in Yahoo.Finances, Investing.com and many more.

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