{"rewrite":{"id":"r_4268885ddf611432c5b2f598","clusterId":"c_14ed0b8e9305e7d0f23745df","slug":"ivs-2026-lawyers-see-on-chain-finance-as-the-real-web3-story","model":"deepseek-v4-flash","headline":"IVS 2026 Lawyers See On-Chain Finance as the Real Web3 Story","summary":"At IVS 2026 in Kyoto, lawyers Ken Kawai and Masashi Masuda, both involved in drafting the LDP's Web3 White Paper, discussed the quiet but steady social implementation of blockchain. They highlighted stablecoins issued by banks, tokenization of government bonds and MMFs, and the growing role of AI agents, while noting that the hype around NFTs has faded.","whyItMatters":"The session signals that the Web3 conversation in Japan has moved from speculative assets to regulated financial infrastructure, with major banks and legal frameworks actively building on-chain systems.","webCardHtml":"\u003cp\u003eThe flashy NFT era is over, but blockchain\u0026#39;s social implementation is accelerating quietly. At IVS 2026 in Kyoto on July 1, lawyers Ken Kawai and Masashi Masuda, both drafters of the LDP\u0026#39;s Web3 White Paper, described a market that has matured. Kawai noted that financial institutions are now the main drivers, citing SBI Shinsei Trust Bank\u0026#39;s yen-denominated stablecoin JPYSC, the second such case in Japan, which lacks the 1 million yen issuance limit of the earlier JPYC. He added that similar projects are underway at the three megabanks and several other institutions. The discussion covered tokenization of MMFs and government bonds, and the use of stablecoins for inter-company and inter-financial transactions like derivatives. Non-financial players, Kawai said, may find a role providing infrastructure for this shift.\u003c/p\u003e","blueskyPost":"At IVS 2026, lawyers Kawai and Masuda described stablecoins and tokenized bonds as the real blockchain use case, while NFTs receded. The shift is from consumer speculation to institutional infrastructure.","twitterPost":"IVS 2026 lawyers: stablecoins and tokenized bonds, not NFTs, are driving on-chain adoption. The hype moved from consumers to institutions.","threadsPost":"At IVS 2026, lawyers Ken Kawai and Masashi Masuda, architects of the LDP's Web3 White Paper, argued that on-chain finance is irreversible. Their evidence: bank-issued stablecoins, tokenized government bonds, and AI agents. NFTs, they implied, were a detour.","newsletterBlurb":"At IVS 2026, two lawyers who helped draft Japan's Web3 White Paper described a quiet but real shift: banks are issuing stablecoins, tokenizing bonds and MMFs, and building on-chain finance. The NFT frenzy is gone, but blockchain's social implementation is accelerating.","attributionJson":"[{\"source\":\"4Gamer.net\",\"url\":\"https://www.4gamer.net/games/991/G999104/20260702010/\",\"title\":\"\\\"On-chain finance is irreversible\\\" - Lawyers discuss the current state of Web3, transformed by stablecoins, AI agents, and legal reforms [IVS 2026]\"}]","lintFlagsJson":null,"lintHits":0,"costUsd":0,"inputTokens":4243,"outputTokens":601,"status":"published","repairAttempts":0,"nextRepairAt":null,"factsAttemptedAt":1782973010,"createdAt":"2026-07-02T06:06:07.000Z","publishedAt":"2026-07-02T06:09:50.000Z","updatedAt":"2026-07-02T06:09:50.000Z"},"cluster":{"id":"c_14ed0b8e9305e7d0f23745df","canonicalTitle":"「金融のオンチェーン化は不可逆」――弁護士が語る，ステーブルコイン・AIエージェント・法改正で変わるWeb3の現在地［IVS 2026］","representativeArticleId":"a_6a3cb637563a0c40f0fc487b","sourceCount":1,"writtenSourceCount":1,"writeAttempts":0,"isSolo":false,"entitiesJson":"{\"anime_titles\":[],\"manga_titles\":[],\"work_titles\":[],\"studios\":[],\"people\":[\"河合 健\",\"増田雅史\"],\"type\":\"news\",\"domain\":\"other\",\"is_roundup\":false}","contentType":"news","status":"published","firstSeenAt":"2026-07-02T05:27:50.000Z","lastSeenAt":"2026-07-02T06:32:07.000Z","updatedAt":"2026-07-02T06:41:11.000Z"},"attribution":[{"source":"4Gamer.net","url":"https://www.4gamer.net/games/991/G999104/20260702015/","title":"転換点を迎えるCrypto──「Web3のためのWeb3」は終わり，市場は現実の金融インフラへ［IVS2026］"}],"entities":{"anime_titles":[],"manga_titles":[],"work_titles":[],"studios":[],"people":["河合 健","増田雅史"],"type":"news","domain":"other","is_roundup":false},"keyFacts":["At IVS 2026 in Kyoto on July 1, lawyers Ken Kawai and Masashi Masuda, both drafters of the LDP's Web3 White Paper, discussed blockchain's social implementation.","Kawai noted that SBI Shinsei Trust Bank's yen-denominated stablecoin JPYSC is the second such case in Japan, lacking the 1 million yen issuance limit of the earlier JPYC.","The session covered tokenization of MMFs and government bonds, and the use of stablecoins for inter-company and inter-financial transactions like derivatives.","Kawai said financial institutions are the main drivers of blockchain adoption, with similar projects underway at Japan's three megabanks and several other institutions.","Non-financial players may find a role providing infrastructure for the shift from speculative assets to regulated on-chain finance, according to Kawai."]}