SBI Holdings Chairman Yoshitaka Kitao delivered a keynote address at the international Web3 conference, WebX 2024, organized by CoinPost Co., Ltd. and the WebX Executive Committee. In his speech, Kitao highlighted the SBI Groupâs commitment to a customer-focused strategy that has driven significant growth in both its customer base and revenue.
Kitao addressed the challenges posed by Big Techâs dominance and the concentration of data, which he believes has led to unfair competition. He expressed optimism about the potential of decentralized Web3 technologies to reshape the internet by integrating it more closely with the physical world. He noted that this evolution will create new business opportunities, particularly in decentralized finance (DeFi), where the concept of decentralized autonomous organizations (DAOs) is gaining traction.
He also discussed the application of token economics in digital securities, emphasizing how blockchain can tokenize real asset values. Kitao referenced a projection from the Information and Communications White Paper, predicting that the metaverse market could grow from 8 trillion yen in 2022 to 123 trillion yen by 2030. He suggested that this growth, combined with blockchain technology, could revolutionize manufacturing processes, making them significantly more efficient.
However, he cautioned that fostering innovation requires improvements in the business environment, including regulatory reforms. Kitao compared Japanâs efforts to expand Web3 with those of Europe and the United States, expressing a desire for stronger global positioning.
In a notable political comment, he expressed hope for Donald Trumpâs return to the presidency, citing the potential for pro-Bitcoin and cryptocurrency policies under his leadership.
Kitao outlined SBIâs strategic ventures, including its investments in the largest market maker, B2C2, which has reportedly generated substantial profits for the group. He also mentioned the ongoing legal proceedings with the U.S. Securities and Exchange Commission regarding Ripple, indicating that a resolution is approaching.
SBIâs collaboration with Ripple was highlighted, along with its plans to enhance the digital securities market through partnerships, including one with Osaka Digital Exchange. Kitao announced that SBI would introduce an NFT named âMiaKoon!â at the upcoming World Expo 2025 in Osaka, which will also feature a dual-method digital wallet service integrating both Web2 and Web3 technologies.
The Expo will utilize Soul Bound Tokens (SBT) to create engaging experiences for participants, allowing them to earn NFTs through their involvement in both physical and virtual events. This initiative reflects SBIâs broader strategy to leverage blockchain technology in various sectors and enhance customer engagement through innovative digital solutions.
