Previously, Japan did not seem very interested in the cryptocurrency sector. However, the more the years pass, the more the country becomes favorable to this industry. Moreover, the current Japanese Prime Minister has a positive view of cryptos. Indeed, Fumio Kishida intends to use this technology to stimulate the country’s economy and double household wealth. It intends to support companies that are established in Japan and that are present in the web3 value chain.
Japan has become more flexible when it comes to crypto
According to a tweet from Watcher.Guru on October 5, 2022, Japan wants to get into the NFT and metaverse business. Indeed, the prime minister recently said that the country will increase its investments in NFTs and the metaverse. This should boosting Japan’s digital transformation through the expansion of Web3 services in the country. Fumio Kishida made these statements during a recent speech to the Japanese parliament.
According to the Prime Minister, government investment in digital transformation started by offering NFTs to local authorities. Indeed, during the month of September, the Japanese government was among the first to reward local authorities. This, in particular for their efforts. These awards, including NFTs, were offered to local authorities by the Prime Minister’s Secretariat during the Summer Digi Denkoshien 2022 ceremony.
The idea of ​​the Japanese government is to use technology to solve problems specific to each jurisdiction. In addition, Fumio Kishida made it clear that national identity cards, for example, would henceforth be digitized.
According to Prime Minister Fumio Kishida, Japan will not stop “support the social implementation of digital technology“. The country will also supportefforts to expand the use of Web3 services that use the metaverse and NFTs“.
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