2024: Deciding the Future of Web 3.0

For the past several years, Watanabe has been living between Japan and Singapore, spending most of the year in Singapore, where Astar Network's development center and Startale Labs, a Web 3.0-related business of which he is the CEO, are located. He explained, "Singapore is the most convenient place for us to be right now, as we expand from Japan to Asia and on to the rest of the world. The entrepreneurial infrastructure is well established here. Eventually, however, I'd like to relocate our base to Tokyo's growing entrepreneurial scene and give back to the country where I was born and raised."

Web 3.0 is expected to revolutionize the Internet, and Watanabe sees 2024, the five-year mark since he started his own business, as a pivotal moment. "I feel that the environment surrounding Web 3.0 today is similar to back in 2000, when main players such as Google and Amazon emerged, setting the de facto (industry) standards of the current Internet, or Web 2.0. I believe that those who can survive and thrive in 2024 will hold the future of Web 3.0 in their hands."

In Watanabe's view, this is the last chance for Japanese players in software and service infrastructure. "Since the post-war era, several companies such as Toyota and Sony have made a global name for themselves in hardware. But in software- and internet-related industries that hasn't been the case, and there has been a near monopoly dominated by the United States. Fortunately, in Web 3.0, the US is lagging behind, providing opportunities for every country and region. In this domain, Japan has the potential to create the Toyota or Sony of our day and age. However, this might be, at least in the context of the Internet, the last chance."

Watanabe's endeavor to become the "Shohei Ohtani of the Web 3.0 world."

For entrepreneur Watanabe, Web 3.0 presents an opportunity to show aspiring young individuals the "path" to starting their own businesses. "In the tech industry, leading figures in the US, for example, are often in their thirties or forties, and even Elon Musk is still in his fifties. In contrast, there seems to be a lack of younger role figures to look up to in Japan. While I respect Softbank founder and CEO Mr. Masayoshi Son who is sixties as a role model, there's a diminishing sense of relatability as generations drift apart. By taking the lead, as someone who started a business in their twenties and aims to break into the top 10 globally in the blockchain sector, I hope to convey the message that 'we can do it too.'"

Furthermore, Watanabe described his own working style and the technologies and services he dealt with as being "borderless." "Astar Network," he says, "operates with members from 19 countries in development and operations, exemplifying that Web 3.0 is a battle to gather resources from around the world more than ever before. When it comes to funding, there's the US and China; for talent, Eastern Europe excels in cost-effectiveness; Asia provides a regulatory-friendly environment and is conducive to creating successful use cases. Leveraging Japan's geographical advantages, I'm aiming to create more use cases and further showcase the Japan's strengths."

His deep connection to Japan made him feel a sense of hesitation regarding the current situation. "I believe that Tokyo is actively implementing measures to pioneer the development of the entrepreneurial environment. But to transform Japan, and specifically Tokyo, into a global hub for entrepreneurship, it's essential to have not only a portfolio of achievements but also a system for communicating and promoting them. Rather than accumulating small achievements, there's a need to create game-changing companies or services to bring about an impact in Web 3.0 like that of Shohei Ohtani* in the baseball world. At the same time, there's a need to globally promote Tokyo's entrepreneurial environment, its current strengths, and future roadmap to enhance its presence."

As a platform for such promotion, Watanabe looked forward to the Tokyo Metropolitan Government event SusHi Tech Tokyo 2024, scheduled for spring 2024, where cutting-edge technologies and ideas from around the world will converge.

"I feel that holding such an event in 2024, which will be a milestone for Web 3.0, is symbolic. Our newly established blockchain-related company, a joint venture between Startale Labs and Sony Network Communications, will officially kick off. We're hoping to make it a year where web services originating from Japan, with the potential to move the world, emerge one after another."

* Shohei Ohtani is a Japanese MLB player who became the first two-time unanimous MVP in 2023.

Watanabe Sota

Founder of Astar Network and CEO of Startale Labs. Founded of Next Web Capital and HAKUHODO KEY3. Holds advisory roles for the Japan Blockchain Association, Marui Group, GMO AI & Web3, and Dentsu web3 club. Recognized in the Forbes 30 Under 30 Asia List 2022 and selected for Newsweek Japan's 2023 "100 Japanese People the World Respects."

SusHi Tech Tokyo, short for Sustainable High City Tech Tokyo, is a Tokyo-based concept that aims to create 'sustainable new value' by overcoming global urban challenges through cutting-edge technology, diverse ideas, and digital expertise.
https://www.sushi-tech-tokyo2024.metro.tokyo.lg.jp/