Japan’s Next Prime Minister Announces Pro-Blockchain and NFT Policy Plans

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.“

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. And Taira recently hinted that Japan needs to reform its tax system to help boost crypto startups.

Ishiba has already announced his intention to hold a general election on October 27. The LDP has been in power in Japan since 1955, although it was briefly ousted in 1993-1994 and 2009-2012. Most observers expect the LDP to retain its overall majority in the Japanese lower house after the nation goes to the polls.

The policy document also speaks about promoting “regions with zero digital divides.” The LDP leader says this can be achieved by developing “internet resources and digitalization.” The LDP head also said he would “correct the over-concentration of businesses in Tokyo,” and “maximize the potential of regional areas” by incentivizing startups.

Terron Gold