10 domestic companies, including 3 megabanks, use Web3 technology to build metaverse infrastructure

Utilize Web3 technology

On the 27th, 10 domestic companies, including the three megabanks and Fujitsu, announced that they had signed a basic agreement to create a “Japan Metaverse economic zone.”

Consolidate the technologies and services of each company and build an open metaverse platform for companies, “Ryugu Koku (provisional)”. Ryugu Koku enables cooperation between Metaverses within the platform and interoperability between different Metaverse platforms. RyuguKoku will also introduce Web3 technology.

Source: Official announcement

Above is an image of Ryugukoku. User companies will create new social infrastructure by utilizing Ryugu Koku, and realize corporate DX (digital transformation) such as information transmission, marketing, work style reform, and consumer EX (experience transformation). .

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The following 10 companies have participated in this basic agreement.

• JCB
• Mizuho Financial Group
• Sumitomo Mitsui Financial Group
• Mitsubishi UFJ Financial Group
• Resona Holdings
• Sompo Japan Insurance
• letterpress printing
• Fujitsu
• Mitsubishi Corporation
• TBT Lab

Among the companies listed above, Mitsubishi UFJ, Sompo Japan Insurance, and Fujitsu are working on Web3. The contents are as follows.

• Mitsubishi UFJ: Providing Web3 type metaverse financial functions
• Sompo Japan: Risk Analysis and Insurance Development for the Web3 Era
• Fujitsu: Provision of Web3-related technologies such as digital data rights management

The background to this agreement is that the demand for DX that utilizes virtual areas is rapidly increasing in companies and government agencies. The future plan is to hold a media presentation in the summer of 2023. We are planning to widely recruit companies that agree with this concept and expand the economic zone. Encourage companies entering the Metaverse business to use Ryugu Koku to improve the efficiency and convenience of businesses and users.

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What is Ryugukoku?

Ryugu Koku is built using the Metaverse framework “PEGASUS WORLD KIT” developed by JP GAMES of the TBT Lab group. Ryugu Koku is a platform for enterprises, but it has a fantasy world view and incorporates elements of online different world role-playing games (RPGs).

Users can enjoy encounters with various content and services with the feeling of an RPG that travels to another world.

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In addition, he explained that the 10 companies mentioned above have cooperated to make it possible to safely use personal authentication, various payments, data infrastructure, insurance, etc. The Japan Metaverse economic zone is not limited to Japan, but also has global expansion in mind.

One of the points that is attracting attention from the crypto asset (virtual currency) and blockchain area is that there is “MULTI MAGIC PASSPORT (MMP)” among the solutions to be introduced. MMP is an ID card with a payment function that allows users to freely move around the Metaverse.In addition to ID authentication and payment methods, users can register useful information such as NFTs (non-fungible tokens) so that they can spend time in the virtual world. can be done.

Source: Official announcement

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The 10 participating companies this time support the industrial DX initiative that utilizes gaming technology based on the concept of “updating Japan with the power of games” by Hajime Tabata, a Web 3.0 advisor at the Digital Agency. Mr. Tabata is the founder of JP GAMES and has a career as a director of “Final Fantasy” at Square Enix in the past.

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