Call it DAOception. Japan's Digital Agency has launched a decentralized autonomous organization with the aim of understanding the “functions and roles” of DAOs.
that could potentially be used for “cross-border crimes that exploit blockchain technology” and threaten user protection. The announcement suggested that the agency could conduct a blockchain analysis of complaints related to the digital asset space from Japan’s authorities.
“In regards to services and tools discussed in connection with Web 3.0 including crypto assets, DeFi, NFTs, DAOs, and the metaverse, each have benefits and risks,” said the Digital Agency. “There are various problems to be addressed.” The newly established Digital Ministry of the Japanese announced on November 2 that it has established its own DAO to investigate and analyze its problems and potential by actually participating in the DAO, and whether to grant the DAO legal personality.
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