#Japan #Tokyo #JTB #BitTrade #NTT Tech Cross

Collaborative Research for Sustainable Revitalization

Three major companies - JTB, NTT Tech Cross, and BitTrade - have initiated a groundbreaking research project aiming to foster sustainable local revitalization through fan activities, commonly known as "Oshikatsu." This collaborative effort seeks to leverage blockchain technology to establish a co-creation platform that will enhance local economies by connecting fans, production companies, and local service providers.

Background and Challenges

In recent years, fan-driven consumption activities, such as pilgrimages to popular locations and participation in events, have significantly contributed to local economies. However, there are concerns that these activities may also cause overtourism and become fleeting trends, leading to questions about the sustainability of the economic benefits for the regions involved. The diversity of fans' needs and the complexity of coordinating between fan communities, producers, and local businesses create additional challenges. As a result, establishing a viable business model has proven difficult.

Overview of the Collaborative Research

The objective of this collaborative research is to overcome these challenges by creating a user-friendly platform that visualizes the achievements and benefits of fan activities. This platform will utilize Non-Fungible Tokens (NFTs) to facilitate the following key processes:
1. Motivating fans through production companies.
2. Enabling fans to consume local goods and services.
3. Providing incentives from local service providers to production companies based on customer referrals.
4. Offering rewards from production companies to fans based on their activities.

By creating a clear visualization of these interactions, the project aims to establish a sustainable economic model that benefits all parties involved.

Goals of the Collaborative Research

• - A Trustworthy Platform for Participants: By leveraging the high resistance to tampering and transparency of blockchain technology, the platform will ensure that diverse production companies and local service providers can safely participate.
• - Creating Sustainable Economic Benefits: Utilizing NFTs, the platform will reveal the contributions of production companies to local service providers through customer referrals and sales. This visualization will help support a cycle of activities for fans, producers, and service providers, thus forming sustainable economic growth.
• - Counteracting Overtourism and Contributing to Regional Branding: This initiative aims to address overtourism by encouraging producers to guide fans towards local exploration and accommodation, distributing fan traffic over time and area. Additionally, the initiative fosters a stronger connection between fans and the community, enhancing local branding.
• - Strengthening Fan Engagement: Fans’ achievements linked to NFTs will accumulate, enhancing their sense of accomplishment. Producers can further build fan engagement by offering rewards based on these achievements.

Roles of Each Company

• - JTB: Utilizing its extensive domestic and international tourism resources and networks, JTB will foster collaboration between local service providers and the platform.
• - NTT Tech Cross: Responsible for designing and implementing the overall architecture of the platform, NTT Tech Cross aims to establish a sustainable business model for local revitalization through fan activities.
• - BitTrade: Leveraging its expertise in cryptocurrency trading, BitTrade will explore collaborations with cryptocurrencies and stablecoins to address social issues through Web3 business initiatives.

Future Developments

To validate the project’s effectiveness, the team plans to conduct practical experiments within the year. Additionally, they will promote engagement from local governments to expand business matching opportunities centered on regional resources.

• ---

Glossary

1: NFT (Non-Fungible Token): A technology that assigns unique value to digital data or content.
2: Web3: The concept of a decentralized internet that uses blockchain technology to allow users to share and manage data independently.

The named products and companies mentioned are trademarks or registered trademarks of their respective organizations.