Japan’s Next Prime Minister Announces Pro-Blockchain and NFT Policy Plans
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
Shigeru Ishiba, Japan’s next Prime Minister and the newly elected head of Japan’s ruling Liberal Democratic Party, has revealed pro-blockchain and NFT policies.
Ishiba will also appoint the LDP’s current web3 taskforce chief Masaaki Taira as the government’s new Minister of Digital Affairs.
Ishiba, the former Japanese Defence Minister, will become Prime Minister next week after winning the LDP leadership election.
According to an official policy document from Shigeru Ishiba’s offices and a report from the Japanese media outlet CoinPost, Ishiba thinks blockchain and NFTs can help boost regional economies.
“Using blockchain technology, NFTs, and more, we will look to maximize the value of a multitude of analog local products, such as food and tourism experiences. We will do this by restoring their value to global prices.”
This aligns with previous calls from crypto industry groups. The groups want to use NFTs and decentralized autonomous organizations (DAOs) in efforts to boost rural economies.
Taira, meanwhile, has previously spoken of plans to use NFTs to boost the intentional popularity of Japanese intellectual property assets.
Japan's incoming prime minister Shigeru Ishiba says he will call a general election on Oct. 27 https://t.co/9emfUrknEt
And Taira recently hinted that Japan needs to reform its tax system to help boost crypto startups.
He said the system is “not optimized” for startups “in the modern era.” At a recent web3 conference, Taira said:
“When [Japanese] startup companies hold and issue tokens that are not as
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