Exclusive Interview with Astar Founder: Accelerating the Adoption of Web3 in Japan, Developing zkEVM L2 to Enter the Ethereum Ecosystem
Astar is a multi-chain smart contract that currently supports various EVMs on Ethereum.
Author: 1912212.eth, Foresight News
The blockchain wave is sweeping the globe, but the true innovation seems to still originate in the United States. A common belief is that the West excels in innovating underlying protocols, while the East is better at platforms and operations. Setting aside these arguments, every country has its own project protocols. When we mention South Korea, we think of the collapsed Terra; when we mention India, we think of the crazy performance of Polygon in the last bull market; when we mention Hong Kong, we think of the domestic public chain Conflux, and what about Japan?
This country became globally renowned in the latter half of the last century for its expertise in electronics manufacturing, giving birth to a group of Fortune 500 companies. However, in the subsequent internet wave, it fell far behind, to the extent that no well-known brands have emerged since. Now, under the blockchain wave, Japan has designated it as a national strategy and is vigorously accelerating its layout. As Japan's largest public chain project, Astar Network is also rapidly developing its ecosystem. Astar is a multi-chain smart contract that currently supports various EVMs of Ethereum.
Recently, Foresight News interviewed Sota Watanabe, the founder of Astar Network, unveiling its mysterious veil.
Sota's first trip abroad was to India during his freshman year, where he firsthand experienced the severity of poverty and environmental issues, sparking his desire to address these problems. He later worked at a blockchain company in the United States, then decided to return to Japan to start a business, becoming a researcher at the University of Tokyo and developing his public chain project with friends.
This year, Astar not only updated its Staking V3 mechanism and token economics but also collaborated with Polygon to launch Astar zkEVM to enter the L2 space.
Japanese Market vs. Europe and the US
Foresight News: Let's first talk about your background. You mentioned having a period of intersection in India and later encountering blockchain unexpectedly. Can you elaborate on how you entered this industry?
Sota: My experience in India exposed me to many social challenges, inspiring me to find ways to make real change. When I discovered blockchain, I believed it was a powerful tool to help solve these problems. It was a new technology full of possibilities, with experts not yet saturated. This made it a field for me to delve into and make an impact, ultimately leading to the creation of Astar Network.
Foresight News: We see that blockchain projects are still concentrated in Europe and the US, while the Asia-Pacific region is also thriving and catching up, but there is still a certain gap. How do you view the cultural and technological differences between Europe and the US and the Asia-Pacific region?
Sota: The Western world is leading in blockchain because they take on more risks and are willing to support new ideas. However, the Asia-Pacific region is rapidly catching up, especially in terms of technology and the people ready to use these technologies. In Japan, the government indeed supports blockchain to aid its development. The differences between these regions are not only challenges but also opportunities. They present us with the chance to collectively make blockchain bigger on a global scale.
Foresight News: Looking at Japanese projects from a global perspective, they are relatively few. What is the reason for Astar Network choosing to develop in Japan?
Sota: Despite having fewer blockchain projects compared to other Web3 hubs like the US and Singapore, Astar Network decided to develop in Japan due to the country's positive stance on innovation and technology. Japan has a unique ecosystem characterized by strong government support for technology, advanced technological infrastructure, and a high-skilled talent pool. This environment is conducive to the exploration of blockchain technology. This strategic choice reflects the belief in leveraging Japan's technological advantages and regulatory framework to take a leading position in the blockchain field, laying the foundation for growth and adoption in Japan and globally.
Foresight News: What cultural or technological advantages or disadvantages are there for doing blockchain projects in Japan?
Sota: In Japan, we have a favorable environment because people value new technologies, and the country has a robust technical system. Additionally, Japan is improving in setting blockchain rules, which is helpful. However, there may be challenges as Japanese companies are typically very cautious and slow to change, especially in new technologies like blockchain. Furthermore, due to strict regulations, it may take longer for new things to make an impact here.
Despite these challenges, Japan remains a good place for blockchain project development because people trust the technology here, and we are known for producing high-quality products. In the long run, this helps us build strong and trustworthy projects.
Foresight News: Do you think Japan's policies towards blockchain are relatively friendly or strict?
Sota: Japan maintains a balanced stance on blockchain. As one of the earliest countries to regulate cryptocurrency exchanges, it has shown open support for the technology's development. However, its regulations, such as cryptocurrency taxation, are considered strict. The government aims to maintain a balance between innovation and regulation, hoping to promote blockchain development while ensuring security and compliance.
Astar Develops zkEVM for L2 Expansion
Foresight News: Astar Network has been very active recently, with the release of Staking V3. What are the major updates?
Sota: The new dApps Stake V3 makes earning rewards easier, enhances security, and simplifies how developers manage applications on Astar Network. This is to make things easier and safer for every participant.
Foresight News: We also noticed that Astar launched zkEVM. How do you view zkEVM? Why is Astar focusing in this direction?
Sota: Astar Network has established a strategic partnership with Polygon Labs to launch Astar zkEVM, aiming to enhance Ethereum's scalability with the support of Polygon's technology. This collaboration is not only intended to drive Ethereum's development but also to accelerate the broader adoption of Web3 technology in markets including Japan. By leveraging the Polygon CDK (Chain Development Kit), Astar zkEVM will introduce innovative L2 solutions, contributing to the Ethereum community.
International Expansion
Foresight News: Ethereum NFTs have been relatively quiet for quite some time. In your opinion, what is the reason? Does Astar Network have any progress or thoughts on NFTs?
Sota: The NFT space on Ethereum may seem quiet, but it is not calm behind the scenes. At Astar Network, we are exploring new uses for NFTs beyond collecting, such as in finance and gaming. We are also making NFT transactions cheaper and more efficient. Importantly, we are collaborating with Japanese companies to integrate NFTs into real-world applications, aiming to innovate in digital art, entertainment, and other fields. Through these efforts and strategic partnerships with Polygon, we are working to inject vitality into the NFT ecosystem and make it more relevant to a wider audience.
Foresight News: Will Astar consider expanding beyond Japan to the Asia-Pacific region, or will it focus only on the Japanese market?
Sota: As Astar Network, our vision extends from Japan to the entire Asia-Pacific region and beyond. While Japan is our foundation, the potential and diverse needs of the Asia-Pacific market are significant. Our goal is to create a Web3 ecosystem that meets local needs while promoting global connectivity. Our journey begins in Japan, but our vision is to become a bridge for Web3 in the Asia-Pacific region and globally.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
