Japan Digital Ministry to Create DAO for Web3 Exploration

The ministry is looking to develop understanding of what such organizations can achieve and probe their limitations.

AccessTimeIconNov 3, 2022 at 3:59 p.m. UTC
Updated Nov 3, 2022 at 4:57 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Japan's Digital Ministry is to create a decentralized autonomous organization (DAO) to further its exploration of Web3 technology.

The DAO will help the government develop an understanding of what such organizations can achieve and identify their limitations, according to minutes of a ministry meeting. The ministry also wants to look at issues such as the legal position of governance tokens that are used for voting.

A DAO is a blockchain-based form of organization governed by holders of its native crypto token, who vote on matters related to the running of the organization. They are considered by some to be a ground-breaking use case for blockchain technology, representing an innovative approach to businesses management.

Japan has been exploring means of integrating Web3 technology into its government and economy. Prime Minister Fumio Kishida recently established a Web3 policy office under the Ministry of Economy, Trade and Industry (METI) focused on creating policies to enable the expansion of blockchain.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Read more about