Japanese Prime Minister Sides with NFTs

When it comes to blockchain adoption, Asia has indeed led the way over the past few years, and this shows no signs of stopping. for example, Fumio KishidaJapan’s prime minister said that various blockchain applications such as NFTs and DAOs could be beneficial to the country. This was stated at a meeting of the Japanese House of Representatives on February 1, 2023.

What NFT can do for Japan

Prime Minister Kishida told the House of Representatives that blockchain could revitalize some aspects of Japan’s public and private sectors, facilitating what he called “Cool Japan.”

“Cool Japan” is interested in introducing Japan’s technological advancements to the world, and the government believes Web3 and blockchain technology can be involved in this.

Thinking of DAOs, people interested in the same social issues can form new communities. NFTs can also be used to diversify the income of creators and retain a devoted fan base, Kashida said. say.

This is not the only example of the Japanese government taking a stand in favor of NFTs. We recently updated the NFT tax code and just awarded her NFT to a civil servant for outstanding performance last year.

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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.

Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.