In terms of blockchain adoption, Asia has certainly been in the lead in recent years, and this shows no signs of stopping. For example, Fumio KishidaJapan’s Prime Minister has said that various blockchain applications such as NFTs and DAOs could be beneficial to the country. This was said at a meeting of the Japanese House of Representatives on February 1, 2023.
What NFTs can do for Japan
Speaking to the chamber, Prime Minister Kishida said that blockchain has the potential to revitalize various aspects of Japan’s public and private sectors and promote what he calls ‘Cool Japan’.
‘Cool Japan’ cares about showcasing Japan’s technological advances to the rest of the world and the government believes that Web3 and blockchain technology can play a role in this.
“If you consider DAOs, people who are interested in the same social issues can form a new community. NFTs can also be used to diversify creators’ income and maintain a very loyal following,” says Kashida.
This is not the only instance where the Japanese government has taken a pro-NFT stance, having recently updated its NFT tax code and awarded NFTs to public servants for outstanding performance last year.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has been featured on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
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