The Digital Agency of Japan launches DAO to promote Web3

The Digital Agency of Japan announced the launch of a decentralized autonomous organization (DAO) to investigate how a DAO can used to solve various social issues in Web3 and promote economic growth in the sector.

The method cited in the announcement, OODA (Observe, Orient, Decide and Act) will be used to guide the DAO to adapt and respond to changes and drive improvement in Web3 and the Metaverse.

Legal changes in Web3 must be flexible, subject to regular reviews and revisions to ensure adherence to international standards. Changes include giving legal clarity to intellectual property rights, which will give rise to secondary trading activities, value creation and accelerate innovation, according to the agency.

It added that resolving issues surrounding intellectual property rights in Web3 will enable the younger gneration to accomplish more and participate without barriers in the Web3 world.

In addition, it will strengthen Japan’s cultural and economic value in content creation, games, arts, sports fields.

The DAO has also implemented a Web3 information database as a forum for dialogue between local governments, which contains information on the state of deliberations on Web3 and related initiatives.