The newly elected leader of the Liberal Democratic Party in Japan will appoint the NFT chief to a ministerial position.
Shigeru Ishiba, the newly elected leader of the governing Liberal Democratic Party in Japan and the country’s next Prime Minister, has disclosed his support for blockchain and NFT policies.
Ishiba will also designate Masaaki Taira, the current director of the LDP’s web3 taskforce, as the new Minister of Digital Affairs.
Ishiba, the former Japanese Defence Minister, will assume the role of Prime Minister next week following his victory in the LDP leadership election.
According to a report from the Japanese media outlet CoinPost and an official policy document from Shigeru Ishiba’s offices, Ishiba believes that blockchain and NFTs have the potential to bolster regional economies.
“We will endeavor to optimize the value of a wide variety of analogue local products, including cuisine and tourism experiences, by utilizing blockchain technology, NFTs, and other methods. We will achieve this by restoring their value to global prices.”
This is consistent with previous recommendations from organizations within the crypto industry. The groups intend to enhance rural economies by employing decentralized autonomous organizations (DAOs) and NFTs.
Meanwhile, Taira has previously expressed his intention to utilize NFTs to increase the intentional popularity of Japanese intellectual property assets.
Additionally, Taira has recently suggested that Japan should consider reforming its tax system in order to stimulate the growth of crypto enterprises.
Ishiba has previously declared his intention to conduct a general election on October 27. The LDP has maintained its position in power in Japan since 1955, with the exception of brief periods of disruption in 1993-1994 and 2009-2012.
The majority of observers anticipate that the LDP will maintain its overall majority in the Japanese lower house following the nation’s upcoming elections.
The policy document also discusses the promotion of “regions with zero digital divides.” According to the LDP leader, development of “internet resources and digitalization” can facilitate this.
The head of the LDP also stated that he would “correct the over-concentration of businesses in Tokyo” and “maximize the potential of regional areas” by incentivizing entrepreneurs.
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