Will Japan Smart Chain develop use cases or applications?
Japan Smart Chain is focused on the development of infrastructure and the Mizuhiki Protocol for identity and compliance tooling, providing the best possible platform for applications and developers to build on. While we work to reduce the cost of compliance via safe and secure transaction infrastructure, we encourage builders to continue innovating Japan’s future applications. We have provided some ideas to get you started in Use Cases, but we imagine we have only just scratched the surface!
We’ll be providing updates to developers in early 2025, so stay tuned for updates.
Why is Japan Smart Chain a Layer 1, instead of a Layer 2 on Ethereum?
We have strongly considered building a Layer 2 blockchain on Ethereum, but ultimately a Layer 2 on its own would not resolve the problems Japanese companies face with committing long-term to public blockchain integration. Ultimately, a Layer 1 blockchain with all servers located in Japan is paramount to helping Japanese companies meet their customer protection obligations, including data residency and privacy.
Who is developing Japan Smart Chain?
Japan Smart Chain is being developed by a Japan-based labs company, AltX Research KK Upon launch, Japan Smart Chain will be governed by the Japan Smart Chain Foundation, a Japanese Ippan Shadan Houjin.
Will Japan Smart Chain be launching a stablecoin?
No. Japan Smart Chain will support businesses and applications developing stablecoins. The Japan Smart Chain team is currently in discussions with major national and regional banks in Japan that are interested in launching stablecoins on Japan Smart Chain, and we welcome other stablecoin projects to consider building on Japan Smart Chain.
