Thank you very much to everyone who attended the testnet preview events in Fukuoka & Tokyo! The JSC dev team has answered some of the popular questions we received during the Q&A session.
If you have any additional questions, please feel free to post them in this #feedback category.
Mizuhiki Suite
*Mizuhiki Suite is a toolset built on the JSC platform that provides on-chain ID management, compliance, and risk management in a modular format.
Q1. The Mizuhiki Suite presents an excellent concept. I believe that ongoing eKYC, rather than a one-time process, is essential. What are your thoughts on this approach?
A1. It’s correct that eKYC currently needs to be implemented for each specific use case. Our future goal is to enable eKYC for various use cases with a single My Number Card tap, but this is still in the Proof of Concept stage.
Q2. Is the Mizuhiki Protocol completely free?
A2. Our goal is to provide the basic functions of Mizuhiki Identity free of charge on Japan Smart Chain. We hope to encourage as many users as possible to enter the world of web3 and expand the use cases of web3.
Q3. To determine whether an address is approved by Mizuhiki, is it sufficient to check whether it holds an SBT (NFT)?
A3. The Mizuhiki Verified token means the user completed KYC and passed sanctions/ASF screening as per Japanese regulations. You, of course, can use it as a signal of trustworthiness. But in case your application is not regulated, you don’t have to limit it to users with SBT.
We are also working on further blockchain analytics integration so we check the address history and assign the level of risk associated with the address so that you can transact safely with an address even without SBT.
Q4. Are you planning to support KYC → SBT issuance with cards other than My Number Cards, such as international driver’s licenses? If only users who have completed KYC can use it, it may be difficult to dramatically increase the number of users.
A4. KYC is only required for regulated use cases. You can freely send JETH to your friends, buy other tokens or memecoins, and interact with smart contracts without completing verification.
Mizuhiki ID is currently planned for Japanese regulation, where KYC is strictly defined. The roadmap of the government is to only accept MyNumber card as an eKYC method
Q5. Could you explain the architecture of the Mizuhiki protocol? Is it a smart contract?
Mizuhiki Suite is more than just smart contracts, but of course we use smart contracts to issue DIDs and Soulbound Tokens. We will use smart contracts in Mizuhiki Suite wherever we can, but cannot make everything a smart contract because we also need to be careful handling personal information.
Q6. It would be incredibly exciting if Mizuhiki identity cards could replace passports in the future! Would that be possible?
It might! But we are not really thinking about this so much. Passports may become digital - we are already seeing My Number Card and Driver’s Licenses in Japan move to Apple Wallet. However, we are not looking to replace government identity - we just want to use it in a way that makes it easier to do compliant things on-chain without exposing too much personal information.
Mizuhiki App / Uniswap
Q7. Am I able to launch my own token contracts on UniSwap?
A7. Yes, all users are able to set up custom tokens with the Uniswap contract, the same as on Ethereum. You can also import custom tokens on the interface; however, that is only visible in your own browser. If you would like to add a custom token to the official Kaigan interface, let us know, and we can add it for you.
Q8. Will you be releasing an Android version?
A8. At this point, we are not planning to release an Android version, as we’d like to focus our efforts on a general-purpose SDK. However, if you would like to see an Android app, please let us know, as we can build one with enough demand.
Kaigan / Zerotrust / JSC
Q9. Of the blockchain trilemma, JSC’s security seems to be high, but I am concerned about how decentralization and scalability will be ensured.
A9. Decentralisation is on a scale, and because all validators are based in Japan, we are definitely less decentralised than chains like Ethereum. Scalability will likely be the same or even better than Ethereum, because we don’t have to deal with such large-scale communication across the world.