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Web3.0 Study Meeting (4th)

Overview

  • Date and time: October 25, 2022 (Tue) from 9:30 to 11:00

  • Location: Online

  • Agenda:

  1. Opening
  2. Proceedings
    1. Hearing 1 (Mr. Shiwa-cho, Iwate)
    2. Hearing 2 (Mr. Satoshi Nakajima)
  3. Adjournment

Materials

Minutes

Date

Tuesday, October 25, 2022, from 9:30 a.m. to 11:00 p.m.

Location

Online Meetings

Attendees

Members

  • Jiro Kokuryo (Professor, Faculty of Policy Studies, Keio University)

  • Joichi Ito (Director and Chief Architect of Digital Garage, Inc., Director General of the Innovation Center of Chiba Institute of Technology)

  • Yuko Kawai (CEO of Japan Digital Design Co., Ltd.; Executive Director of the Strategic Planning Department of Mitsubishi UFJ Financial Group, Inc.; Executive Director of the Strategic Planning Department of MUFG Bank, Ltd.)

  • Keiji Tonomura (Attorney, Nagashima, Ohno & Tsunematsu Law Office)

  • Taiyō Fujii

  • Shinichiro Matsuo, Research Professor, Georgetown University

Digital Agency (Secretariat)

  • Director Kusunoki, Counselor Nozaki

Minutes

Mr. Morikawa from Shiwa-cho gave an explanation.

  • Shiwa-cho is a town with a population of 33000 located almost in the middle of Iwate Prefecture and south of Morioka City. It is a town where agriculture is thriving, such as rice, wheat, soba, grapes, and apples. As features of town development, we have been working on recycling-based town development, town development through cooperation, and town development through public-private cooperation.
  • The reason why we are working on Web3.0 Town this time is that people are the center of area revitalization, and we believe that it is important how to create relationships with people who have diverse ideas and values, and how to incorporate new knowledge. Therefore, we started working on Web3.0 Town with the intention of actively incorporating cutting-edge ideas and technology into town development, connecting with diverse people across area, creating new value in the town, and making it an interesting and lively town.
  • At the start of the new initiative, based on the basic government policy and Cabinet decision on June 7, which included the environmental improvement of Web3.0, we announced the promotion of Web3.0 Town at the All-Hands Conference of the Town Council on June 10.
  • The aim of the announcement at this time was to raise interest in Shiwa-cho by announcing it ahead of other local government.
  • One major aspect of the Web3.0 Town concept is that we will establish a DAO called "Furusato DAO," which is a tentative name, and we hope to revitalize the town. At the Furusato DAO, based on the ideas of a wide variety of people gathered at the DAO, we will solve area Issue, create new value, develop a new cooperative town using tokens, realize Benefit-Your-Locality Hometown Tax, incorporate NFT into Benefit-Your-Locality Hometown Tax return gifts, and in the future, we hope to attract companies working on Web3.0. Through the DAO, we would like to make use of the power of sympathy and support that has been sent across area to real Shiwa-cho.
    In addition, if this DAO becomes popular, it is expected that it will lead to donations to the town, migration, and settlement.
  • In promoting the Web3.0 Town concept, SOKO LIFE TECHNOLOGY, headquartered in Shiwa-cho, supports us in terms of technology and ideas. It has signed a cooperation agreement with SOKO LIFE TECHNOLOGY since the announcement of Web3.0 Town. The representative, Mr. Sugawara, is from Shiwa-cho, has SE experience, and is familiar with the field of Web3.0. When it comes to Shiwa-cho, it is known for the Ogal Project, but it is Shiwa-cho's strength to have a private sector partner who can accompany them with ambitions.
  • SOKO LIFE TECHNOLOGY provides technical support, including advice and proposals based on expert knowledge, the construction of the DAO framework, the DAO community, and now the operation support through Discord. The town side plays the role of actively disseminating the efforts of Web3.0 Town, legal checks in the implementation of the project, and explanations to residents.
  • At present, Shiwa-cho's basic stance is to start from what can be done. First of all, it will be a return gift development for hometown tax payment using NFT. We prepared a return gift set with a brand pork from the town and a game item called "Clip Pork", and it has been added to the lineup since the 1st of this month, and we received a development from SOKO LIFE TECHNOLOGY.
  • By creating a product that is not just a return gift for NFT but a set with a brand pork from the town, we may be able to approach a group of game users who have never been associated with Shiwa, and let them know the charm of Shiwa.
  • Second, we use Discord to communicate with people inside and outside the town. There are many people with rich knowledge and high interest, and many dialogues have been created because they seem to be able to do interesting things with Web3.0. I would like to make use of the ideas and advice here for community development.
  • Third, we held an awareness-raising event. On the 9th of this month, we held a talk event with Mr. Hirai, the first House of Representatives member of Minister for Digital Transformation, and Mr. Joi Ito, a leading expert in the field of Web3.0, as guests.
    We would like to continue holding talk events and other events.
  • Other projects under consideration include a combination of art for the disabled and NFT, Help to Earn, a collaboration between local specialties and NFT of Smell, and a project called "Sake School" using the site of a closed elementary school. We are considering whether DAO can be used effectively.

Next, Mr. Sugawara of SOKO LIFE TECHNOLOGY Co., Ltd. explained.

  • The company was founded in 2018 and is headquartered in Shiwa-cho, Iwate. It has branch offices in Nippori, Tokyo and Osaka, and is mainly engaged in Web3.0 business and regional revitalization business.
  • Furusato DAO aims to solve the area Issue with human resources and ideas gathered in DAO. It actively utilizes Web3.0 technology, paying particular attention to the creation of independent financial resources.
  • The reason why I found the possibility of local local government and Web3.0 is that there is a Issue where there are no people and there is no money, and local government is tax-free, so I am proceeding with the current project based on the assumption that it will be very effective in maintaining crypto assets.
  • As a future concept, for example, a private sector company or an incorporated association will issue 1 billion tokens and transfer them to a local local government for free. The local local government will distribute the tokens to residents for both PR and token penetration. The local local government will sell the tokens at a time when the distribution of the tokens has expanded and the tokens have gained value. Based on this idea, the local government will exchange opinions with each ministry and agency and consider whether it can raise its own financial resources.
  • The idea is to Help to Earn, but the purpose is to reduce the burden on employees by reducing administrative expenditures and expenditures. Shiwa-cho is responding while doing its own core business, such as shoveling snow, mowing grass, and helping with events. It is thinking of three way good by asking residents to help with this, for example, and giving them tokens of the new area currency instead of volunteers.
  • It is assumed that you are participating in the DAO, but you will be informed within the DAO that you cannot shovel snow because of your back pain, and if someone who can handle it helps with snow shoveling, you will receive a token. If the town is involved, you will receive a token if you help with cleaning rivers and streets in the town.
  • While gaming Web3.0 initiatives such as STEPN are often referred to as Ponzi schemes, the Furusato DAO is looking to bring the token economy into circulation by allowing towns to buy tokens as they cut their budgets. It is currently unable to issue tokens, so it is considering doing so at existing Wrinkle Points.
  • Since Help to Earn is still not widely accepted, we will issue two NFTs and give the aforementioned wrinkle points to those who acquire NFTs by purchasing NFTs or donating through Benefit-Your-Locality Hometown Tax.
  • The other is the Electronic Shiwa-cho Citizen Initiative. Similarly, NFT will be issued, and those who obtain NFT by purchase or donation of hometown tax payment will be certified as Digital Shiwa-cho Citizens after checking their attributes and confirming their identity. The advantages for Digital Shiwa-cho Citizens are that they can buy local products on the dedicated EC site, and they can receive voting rights on the operation of local government and the use of the proceeds. When you actually visit Shiwa-cho, you can shop and stay at a reasonable price.
  • We are considering renewing NFTs for those who purchase NFTs every year, pay Benefit-Your-Locality Hometown Taxes, or visit Shiwa-cho.

In the questions and answers from the members and the answers from Mr. Morikawa and Mr. Sugawara, mainly the following remarks were made.

  • Member: Do you think the problem is exactly the same as it was at the time of the is a staff of the town or a staff of SOKO LIFE.
    • Speaker: SOKO LIFE.
  • Member: Do you think the problem is exactly the same as it was at the time of the Sugawara dealing with the discord by himself?
    • Speaker: , but while I basically want to do it, I need to increase the number of people like community managers because I can't get around to it.
  • Member: Do you think the problem is exactly the same as it was at the time of the Ogare is that local people are involved as stakeholders and enjoy themselves as beneficiaries. Regarding this matter, I would like to ask how the people of Shiwa-cho are feeling and how they are participating.
    Second, what is the budget size, what is the expected size of the annual continuing expenses, and what is the expected level of collection when the price of tokens rises in the future?
    • Speaker: , it has not been active yet, but it is the latest situation that we widely announced it to the people of private sector at the talk event the other day. In addition, we are connected with the people of the local community group who are voluntarily transmitting information, and we are promoting the understanding and dissemination of Web3.0.
    • Speaker: Token Economy. Although we need to respond in the future, we have started with the idea that it would be good if the town would be rich, so we would like to proceed without the contribution of funds from Shiwa-cho rather than the collection prospect in the future. It is still an opaque technology, and we think that it is difficult for Shiwa-cho to make a budget for the town in this situation, so we would like to basically support and form it, and set the figure in the next fiscal year or later.
  • Member: Do you think the problem is exactly the same as it was at the time of the Discord? I would like to ask about the country, area, and attributes, such as outside the town and outside Japan, and what kind of discussions are taking place at present.
    Another point is that there are legal issues, such as whether or not it is necessary to register as a crypto asset exchange service provider in the case of a town issuing a token, but I would like to ask if there are any legal issues that can be shared.
    • Speaker: Discord are from Shiwa-cho, and people who are originally familiar with SNS such as Facebook and are trying to liven up Shiwa-cho are online. Two or three people have been registered overseas, but the current situation is that communication is not so active.
      The most common are people working on regional revitalization in other regions who are paying attention to Web3.0 in the wake of Web3.0 Town Shiwa. In communication with people who are interested in regional revitalization, such as Kesennuma, a DAO in the Tohoku region called "Michinoku DAO", and a Discord community called "Miyoshi Digital Citizen" in Miyoshi City, Tokushima, there are many talks about how to solve local government Issue and how to revitalize their Discord. There are many Discord-operated communications. area
      As pointed out, the legal issue is that the purchase of tokens for which local government has been able to reduce its budget may fall under the category of crypto-asset exchange services, and it is being investigated whether it should be through another organization instead of local government.
  • Member: Do you think the problem is exactly the same as it was at the time of the DAOs or blockchains enter area, it is important for the bearers to be continuously involved, and we recognize that the big question is whether the incentive mechanism has been design. In addition, you said that the method of making profits has not been decided, but I think it is necessary to decide in order to sustain it. If the price rise of the token is assumed, the sustainability will be questioned, and we need to think about making it sustainable even if there is a decline in price or volatility. We should design whether the profits can be distributed even when the price falls.
    I would like to know if each of them has been clarified, and if they have not been designed, it will be necessary to create them in the future. Therefore, I would like to know if there is any direction on how to design them and how the incentive model is.
    • Speaker: Furusato We were considering launching a sub-DAO in each local government with a parent DAO called DAO and collecting a fee for token exchange when converting the token itself into another coin. However, we started with the concept of helping local government, which has low tax revenues, so we don't want to collect a fee. We are continuing to consider how to build a revenue model.
  • Member: Do you think the problem is exactly the same as it was at the time of the have any intention of what kind of work and tax revenues will be specifically raised through the Web3.0 project?
    I don't think the economic benefits of NFT need to be feasible. If running Web3.0 on local government's budget is for local government's benefit, I think it is also a form of sustainability. I would like to ask if Shiwa-cho can go that far. If you have any prospects or ambitions, please tell us.
    • Speaker: , so I have not drawn a big picture. However, I would like to make good use of DAO on a project basis, and since "Sake School" projects and environmental projects are emerging as ideas, I would like to create a community where people who sympathize with me and people who have the same passion gather, and create new businesses, jobs, and migration to area.
  • Member: Do you think the problem is exactly the same as it was at the time of the government and Digital Agency systems?
    It is a gray area to say that it is easy to use because it is tax-exempt. There was talk of a license for an exchange business, but in addition to that, I would like you to share any other points that you think may contribute to regional revitalization.
    • Speaker: ministries and agencies. From the FSA, we would appreciate if there was a common contact point for inquiries because we would receive clear answers in the case of corporations and individuals, but if a local local government is the main body, it will be under the jurisdiction of Ministry of Internal Affairs and Communications.
    • Speaker: administration and community development, walls that have never been experienced before will appear, so I expect Digital Agency to be a window to accept such points. It would be desirable if each ministry and agency could be connected from there.
  • Member: Do you think the problem is exactly the same as it was at the time of the local government, various laws such as the Financial regulation and the Local Autonomy Act are also involved, but since the competent ministries and agencies are divided, we are considering making Digital Agency a hub for smooth communication, and we would like to consult with you as one direction of the Web3.0 Study Group.
  • Member: Do you think the problem is exactly the same as it was at the time of the The stablecoins that will come out next year will be useful for the area DAO.
    For example, to get 100 yen in gas money, you have to go to a crypto exchange, give them a My Number Card, verify your identity, and move it to your wallet. If you try to distribute that 100 yen, it will become an exchange business. It is a rule that you cannot do it from the beginning. From the perspective of KYC, it is necessary to launch a fairly small project, especially in municipalities. The KYC stories of crypto traders in large exchanges and how useful it is to move stablecoins in municipalities are completely different uses, and the KYC cutoff depending on the price and the rules for large users are very difficult to implement in the community. In fact, there are many details from Shiwa-cho that are being worked on now.
    I believe that the Financial Services Agency will provide information on the Stablecoin Law. When the Stablecoin Law comes out next year, there will be no products with value unless they can be used with area DAOs. The problem that tokens become securities or investments because they fluctuate can be solved with stablecoins, and from the perspective that there is no risk because they do not fluctuate, it will also protect consumers. It would be good to dig deeper into DAOs and stablecoins and consider various uses for them in cases like Shiwa-cho.
  • Member: Do you think the problem is exactly the same as it was at the time of the Financial Services Agency is currently discussing stablecoins, but I don't think the perspective of regional revitalization has yet been included, so I think the Digi-cho may be able to incorporate the perspective of area revitalization.
    In the future, there may be a conflict between those who actually live and those who become citizens virtually, especially when it comes to using or not using local budgets. I hope it will be a success as a leading case, because whether it can be really done within the framework of the current law, and in some cases, there is a way to utilize something like the DAO special district.

The first half ended here. Mr. Nakajima explained Hearing 2.

  • He is the oldest person in the IT industry, but after experiencing both Web1.0 and Web2.0, he is now involved in Web3.0 and creating smart contracts. I was moved by the paper by Satoshi Nakamoto of Bitcoin.
    Since I had never bought an NFT, I bought a Nouns NFT in March this year to enter the Nouns DAO, which is called the most DAO-like DAO.
  • After learning about DAOs, how they work, and participating in Discord discussions to volunteer and create projects, I found that Nouns DAOs work well for two reasons. One is that they are non-profitable. Participants put money into them, which accumulates in Treasury, and then use the money to help artists, make Nouns-themed movies, fund T-shirt productions, and make the Nouns community bigger. One reason is that they are non-profitable, with no dividends for people with Nouns NFTs.
    Also, there are 10 founders of Nouns, but two of them are in leadership positions, and their statements are heavy on Discord, so it's easy to gather opinions in support of them, and the DAO, which requires a majority vote, works well.
  • On the negative side, there will be a faction, and there will be a lot of people who come for money because of the large amount of money from Nouns DAO. There are several people who receive 10 million yen or 20 million yen a year full-time from Nouns DAO, but there is a political movement to make them like the influential founder of Nouns.
  • Even Nouns, which are said to work well as DAOs, are getting ugly, and DAOs are not easy.
  • There are many people in Japan who are mistaken about DAOs. Instead of having a leader, DAOs are centered on a dry mechanism in which smart contracts are in between and money is moved by majority vote. Bitcoin is said to be a DAO more than Nouns DAO. It is Bitcoin that is established as a result of each person's efforts to maximize their own profits in accordance with the incentive system designed by Satoshi Nakamoto. Isn't it the beauty of blockchain?
  • I don't think DAOs will be replaced by companies. In particular, leadership, vision, and a top-down chain of command are important in the part related to manufacturing, and DAOs are inappropriate in terms of running a commercial enterprise.
    Although the Nouns DAO is also non-profit, it is desirable to use the DAO for activities such as local local government because the DAO is considered to be suitable for charity activities that collected money. However, it should be understood that the DAO is used merely as a voting system.
  • DAOs are centered around smart contracts, which determine the allocation of money on behalf of managers.
    It is often said that only Google executives and Google shareholders made money in the Web2.0 era, but to change that, Web3.0 issues governance tokens, and since the price of the token increases when the service is successful, Web3.0 ventures are collecting money as a world where those who participated from the beginning can distribute the increased value. This is irresponsible. In the first place, the governance token of a commercial company is a security. It is not easy to issue shares. There are strict laws in each country about issuing shares, but Web3.0 ventures can collect money from consumers without them, so the issuance of governance tokens is now popular. The only reason is that money can be easily collected. Therefore, it is similar to ICO, such as collecting money but not implementing what was promised, such as collecting only ragpur.
  • I hope the law will be improved. There is a case in which an entertainer sold crypto assets to his fans, but isn't it an investment fraud?
    The same thing will happen any time you let a Web3.0 venture issue a governance token in the future. If influencers start selling governance tokens, there will be a huge number of victims.
  • Games such as Play to earn can also be played by buying an NFT and holding an NFT. Money can be made by playing games. However, since the source of the money is the NFT paid by the user, it is difficult to understand across the token economy, but basically there is no way that the money that comes out is more than the money that comes in, so there is no way that everyone can get their money's worth. Those who do not understand this are trapped.
  • In the end, it is the same as a Ponzi scheme, and because there is first mover advantage, it makes money when you participate first. Influencers who made money from first mover advantage rapidly entered the market by spreading on SNS, and the first mover and the company make money, but the situation continues to be a burnt field in the end.
  • I hope the government will put in place laws to protect consumers and stop possible crimes in the future.

Questions from Members In response to Mr. Oyobinakajima's question, he mainly made the following remarks.

  • Member: Do you think the problem is exactly the same as it was at the time of the 's criticism and proposals.
    Tell us a little bit more about your fascination with Web3.0, the development wave of Web3.0, technological change, and the lure of doing new things.

    • Speaker: My favorite thing is that anyone can deploy and run a program called a smart contract permanently on a virtual computer that spans the blockchain world.
      For example, even if you set up a website, the website depends on the management company. If you don't continue to pay money every month, it will disappear from the website.
      Blockchain, on the other hand, doesn't exist, so the smart contracts you deploy will continue to work forever.
      Because money is involved, creating an incentive mechanism there can create an autonomous marketplace and create a situation where everyone is in business.
      A DAO is a Decentralized Autonomous Organization, but I don't think I need an Organization. It's just that the code I write is valuable and that's where the economy is. But there's no owner, there's no voting. It would be beautiful if I could create a situation where it's just the person who deploys it. I'm trying to think about what a valuable smart contract is and what I need to create to create a situation where I can do business there, and I'm trying to create a mechanism that works automatically.

  • Member: Do you think the problem is exactly the same as it was at the time of the In the' 90s, there was a time when spam was 90%. I think there are differences and similarities with spam, but there were various things such as regulation in the country and stricter laws, but private sector's protocol creation and spam filter were able to be fixed quite reasonably in private sector.
    In the early days, there was a smell of money and people were coming together to make things happen, but various people are innovating bad things, eliminating incentives as much as possible, and creating tools, so when we make laws in this snapshot now, we should be aware of them.
    Bitcoin was also political from the start, and now there is a political component everywhere. The DAO thinks that the old problems remain in governance, but because the scale is big and the money is moving, they are talking about doing something about governance.
    Next week, I will have a meeting with Mr. Lawrence Lessig on DAO governance. People who have been thinking about governance as a discipline for a long time have been participating in DAO governance, so I would like to create and spread positive cases while discussing it.

  • Member: Do you think the problem is exactly the same as it was at the time of the I myself am in the position of thinking about what kind of attention should be paid by not only engineers but also business people, government people, and regulators to ensure good governance in the blockchain era and the Web3.0 era. However, the current state of traditional finance is a history of wisdom accumulated over many years of governance. On the other hand, in the current blockchain world, there are many cases in which young engineers make mistakes because they lack wisdom and knowledge based on a long history. I feel that it is a whole problem of how to pass knowledge and how to train young engineers to make rules.
    Given that engineers and coders in the Web3.0 era are in a position to make legal rules, there are questions about who engineers should be in the Web3.0 era.
    It is theoretically difficult for the current DAO to have many applications, but while taking advantage of the beauty of Bitcoins, we would like to nurture young engineers who can implement governance or security in order to benefit society, while injecting the wisdom of the past from various people. As a representative engineer, I would like to ask how to nurture engineers in the Web3.0 era.

    • Speaker: I grew up in Japan, but I've been writing programming since I was in my second year of high school. I didn't learn it from school. I went on to graduate school, but what I learned the most was through my job.
    • Speaker: What shocked me when I got an American MBA at the age of 40 was the sloppiness of Japanese universities. American universities are so strict that I studied much more during the two years of my MBA than during the six years of university and graduate school combined, so Japanese universities should be radically revised.
      If you are a strong student in mathematics or science, you can start programming from junior high school. If you give them a education for gifted students, they will probably become world class at the age of 18 or 19. Japan should put more effort into the system of technical colleges as a country and train software engineers.
      Things like computer science have great classes online, and we should take advantage of that.
      If you really want to raise software engineers in Japan, you should make the most of Japanese technical colleges, and change them into software training schools, even if it's only one third or half of them. When you enter a technical college in your first year of high school, you need to train thoroughly the basics of English, mathematics, and physics in one to two years, and after that you will be asked to study computer science online. The role of a teacher is to help a frustrated child, or to help him as a tutor in programming. It will be the most effective, and Japan will change.
      Since children who are good at mathematics and science at about junior high school are suitable for engineers, it is my dream to raise them in a education for gifted computer science students and have them work immediately at the age of 18 or 19.

  • Member: Do you think the problem is exactly the same as it was at the time of the project itself is intended to make a certain amount of money, and commercial and non-profit terms in terms of whether the profits generated will be distributed to token holders. I would like to ask why you think DAO is not suitable for commercial purposes and non-profit may be suitable.

    • Speaker: It is the former. The point is whether to make a profit or not.

  • Member: Do you think the problem is exactly the same as it was at the time of the I understand that it is difficult to make decisions with governance like DAO in order to make money by making things, but if you support artists non-profitably, DAO governance may be suitable.

    • Speaker: operations, especially when creating new ones, majority voting often does not work. Most companies are ruined when charismatic leaders use their intuition to move in a direction where no one is moving, but some companies are successful, so the economy works. Google and Apple were born in such a way, and in Japan, HONDA and SONY are also like this. They have great founders, and excellent people gather around their visions. There is no guarantee that they will succeed, but the beauty of joint stock companies is that they can do great things by believing in their founders and following them, and that may cause innovation. Majority voting cannot provide not only good things but also good services.
      In the case of non-profits, for example, even if you establish a non-profit organization to protect coral reefs, there are various ways to protect the coral reefs. It is just a matter of deciding whether to distribute money to a local local government or how to use the money. It is fair that the people who contributed the money make a majority decision, and it is not necessary to generate profits. If everyone is comfortable and convinced that the money has been spent on coral reef protection, it will be completed, so DAO may be suitable.

  • Member: Do you think the problem is exactly the same as it was at the time of the ICO? Or is there something new happening with a different nature?

    • Speaker: ICOs, governance tokens and IEoS are all the same in nature.
      For example, how do you screen an IEO? You can do a background check on what anti-social forces are doing, but if a young, motivated person writes a solid white paper and interviews that person and is a solid person, you can't refuse an IEO.
      Venture capital is a selective business. Out of about 1,000 venture companies, only about six can receive investment. Most of the six companies will go bankrupt. However, since venture capital invests evenly in dozens of companies, the business model is that 10% of them will pay for themselves if they multiply by 10 or 20 times, so venture capital can bear the risk.
      On the other hand, not all 1,000 companies will fight equally for the issuance of governance tokens. And it is true that if you exclude anti-social forces, you may be able to exclude about 20%, but 80% will remain. If they say they want to do IEO, you can't refuse them.
      Not to mention the high risk involved in investing in 800 of the 1,000 companies listed on the IEO by amateurs in a tough venture industry where only six out of every 1,000 companies are invested by professional investors, and only one or two of them are successful.
      In terms of venture development, it may be good to make it easier for them to collect money, but it is a situation that exposes consumers to risk.

  • The secretariat explained that the next workshop is scheduled to be held on Wednesday, November 2.

  • The secretariat explained that the minutes of the meeting will be published after the members confirm the content.

End