Japan’s financial regulator has reportedly revealed the arrival of the nation’s global Blockchain Governance Initiative Network (BGIN) on March 10th. 

Specifically, the initiative was established to in an attempt to promote the “sustainable development of the blockchain community” – via working to release “ “an open and neutral sphere for all blockchain stakeholders” to obtain extensive knowledge between DLT stakeholders.

The initiative further looks to come up with a generally agreed voice for stakeholders, with a wide array of points of view, as well as to particularly design a network for data sharing.

The Financial Services Agency Japan (JFSA) will take up the role of a stakeholder in the BGIN project. The JFSA also revealed that this initiative is in accordance with the G20 Osaka declaration.

The BGIN marks the third blockchain-related project led by the JSFA, with the Blockchain Roundtable previously introduced last year, and “Multilateral Joint Research Projects’ that focused on distributed ledger tech. 

Numerous regulators from inside and outside of Japan – Abu Dhabi, Australia, Germany, France, Ireland, Dubai, Hong Kong, Singapore and the UK – along with universities from the US, have all joined the Blockchain Roundtable and now hinted that they are open to engagement with the BGIN.