On August 29, 2024, Yoshitaka Kitao, Chairman of SBI Holdings, delivered a compelling keynote speech at the international Web3 conference "WebX," organized by CoinPost Co., Ltd. and hosted by the WebX Executive Committee. In his address, Kitao highlighted SBI Group's customer-centric growth, emphasizing the company's success in expanding its customer base and revenue.
Kitao began by reflecting on the Internet revolution and the uneven advantages gained by Big Tech due to data concentration. He discussed how the emergence of decentralized Web3 technology could address these imbalances, predicting that the integration of Web3 with the real world will foster new business opportunities.
He delved into the DeFi (decentralized finance) sector, illustrating its potential with the DAO (decentralized autonomous organization) concept applied in finance. Kitao also discussed token economics, showcasing how blockchain technology is being used to tokenize real asset values, and highlighted the transformative impact of AI, predicting significant market growth for the metaverse, from 8 trillion yen in 2022 to 123 trillion yen by 2030.
Kitao underscored the need for improved business environments, including system reforms and regulations, to facilitate innovation. He noted Japan's efforts to expand Web3 infrastructure and expressed support for Donald Trump’s potential return to promote Bitcoin and cryptocurrency-friendly policies.
In his discussion on SBI's initiatives, Kitao highlighted the company’s strategic venture capital investments and praised B2C2, the largest market maker, for its substantial profits. He mentioned that B2C2's potential sale could achieve valuations significantly higher than its current worth.
Kitao also touched on SBI's partnerships, including its collaboration with Ripple and ongoing litigation with the U.S. Securities and Exchange Commission (SEC). He mentioned that Circle, the issuer of the stablecoin USDC, is uniquely positioned with three licenses in Japan and expressed a desire to align the stablecoin with the Japanese yen eventually.
Looking ahead, Kitao introduced SBI's plans for the Osaka-Kansai Expo 2025, where SBI Holdings will offer the Expo's exclusive NFT, "MiaKoon!," and operate the "EXPO 2025 Digital Wallet Service." This service will utilize both server-managed Web2 and blockchain Web3 methods, integrating SBT (Soul Bound Token)-type NFTs to engage Expo participants both in-person and virtually.
Kitao concluded by affirming SBI’s commitment to expanding its loyal customer base and product lineup, while continuing to innovate in the cryptocurrency and blockchain sectors.
August 2024, Cryptoniteuae