Sign Memorandum of Understanding on IEO

Native token of “Japan Open Chain”, web3 business blockchain, to be listed in Huobi Japan in 2023
～Promoting global operation～

G.U.Technologies Inc. (CEO: Daimei Inaba, CTO: Hidekazu Kondo), web3 business infrastructure Start-up, today announced that it has signed a memorandum of understanding on IEO together with its affiliate company, Japan Blockchain Foundation Inc. (President: Hidekazu Kondo) and Huobi Japan Inc. (President: Lei Guan).

From the right：Inaba, CEO of G.U.Technologies Inc., Guan, President of Huobi Japan Inc., Kondo, Japan Blockchain Foundation Inc. and CTO of G.U.Technologies Inc.

◽️Overview and Aim of the IEO

“Japan Open Chain” is a fully Ethereum-compatible high-speed blockchain operated by reliable Japanese companies, aiming to offer the most suitable and trustworthy web3 business.
This chain has already been decided to be used by the local government and several enterprise companies. Japan Open Chain native token is the first to be traded in Japan after the IEO as mentioned in MOU. After being listed for the first time in Japan, the token will aim to be listed in other trading exchanges both inside Japan and overseas by cooperating with Huobi Japan.

◽️web3 business blockchain “Japan Open Chain”

There are several blockchain networks in the world, but some of those operators, in fact, are uncertain or even oftentimes have legal and technical problems, which are making it difficult to promote the web3 business on blockchain.
As various kinds of problems such as fraud are occuring in those doubtful chains, there is a compelling need for the dependable blockchain that complies with the law in each country and offers reliable business. Therefore, Japan Open Chain was established aiming to empower the web3 business with people around the world, by realizing the necessary and sufficient decentralization, high security performance, and the stability, while the most trustworthy companies in Japan are operating the chain abide by the law.

▼Validators（Co-operators）

Currently 6 companies including CORGEAR Co., Ltd. a company group startup of Sony Group Corporation, Dentsu Inc., G.U.Technologies Inc., Minna Bank, Ltd.,pixiv Inc., Kyoto University of the Arts, are joining as a validator, and the validators ultimately are planned to become 21 companies.

Japan Open Chain official site：https://www.japanopenchain.org/en

◽️About the Token to be listed

This token is a native token which is called Gas in Ethereum, the transaction fee paid to the validators in exchange as a cost needed for verifying the transaction (creating contract and other actions) on blockchain. The amount of the token required for each transaction is automatically decided by the protocol similarly as in the Ethereum.

◽️Roadmap

◽️Comments from Lei Guan, President of Huobi Japan Inc.

We are pleased to have an opportunity to work together on IEO with G.U.Technologies Inc., which is developing  “Japan Open Chain”, its own Ethereum-compatible blockchain. Currently, web3 business is drawing plenty of attention not only in Japan but around the world. This new concept of the internet is expected to bring drastic change in business model. In this context, we share the thoughts of G.U.Technologies in operating the blockchain complying with the law in Japan and promoting web3 business, thus we decided to work together with.
We understand that “Japan Open Chain” will become the innovator of the blockchain network that can offer the most suitable business use in the crypto asset industry in Japan.  
Huobi Japan Inc. will strive to further improve our technology for the coming web3 times along with G.U.Technologies and Japan Blockchain Foundation Inc.

◽️Comments from Daimei Inaba, CEO of G.U.Technologies

We are extremely delighted to be working together with Huobi Japan Inc. on the native token IEO of “Japan Open Chain”.
Currently we are having considerable inquiries about our efforts on entering into the web3 business, on system development and utilizing the features of blockchain as well as applying it to finance. Many of the businesses and governments, in fact, are already employing “Japan Open Chain” for the blockchain used in the web3 projects. 
Also after the IEO, we will continue to offer the web3 service including NFT or dApps, system construction utilizing the blockchain, and web3 infrastructure for the most suitable business use.

◽️Comments from Hidekazu Kondo, President of Japan Blockchain Foundation Inc. and CTO of G.U.Technologies

Japan Blockchain Foundation Inc. is an affiliate of G.U.Technologies as well as managing company of “Japan Open Chain”, that jointly issues this token. 
We consider the blockchain to become the most important infrastructure that supports the new coming capitalism. Currently, however, there is no blockchain in the world that is technically and legally secure for business use. Japan Open Chain is backed by the trust of Japan, the most trusted country in the world. We hope to support your business innovations for the web3 era by offering safety and security not only in Japan but around the world.

◽️ Japan Open Chain Business Membership Application

Japan Open Chain consortium is now accepting the new members from businesses and groups, joining “Japan Open Chain Business Membership” to consider the web3 business together. In this program, Japan Open Chain partners will strengthen the web3 business implementation service such as consulting and development support for the businesses and local governments to do the business on the Japan Open Chain, support members entering web3 business securely and easily to accelerate their web3 business promotion. If you have interest in business use of Japan Open Chain, please feel free to contact us.