Japan\u2019s new Prime Minister Shigeru Ishiba has been in the limelight for his opinion on continuing with rate hikes moving ahead. However, local Japanese media also reports that Ishiba is positive on blockchain and non-fungible tokens (NFTs) and believes that they can help boost the regional economies.<\/p>\n
Shigeru Ishiba Bullish on Blockchain and NFTs<\/h2>\n
Japan\u2019s New Prime Minister Shigeru Ishiba revealed his bullishness for Blockchain and NFTs in the official documents signed by Ishiba\u2019s office<\/a>. This policy aligns with several previous calls from crypto advocacy groups.<\/p>\n <\/p>\n These groups had proposed the use of decentralized autonomous organizations (DAOs) as well as the use of NFTs in order to boost rural economies. As part of its \u201cRegional Revitalization 2.0.\u201d strategy, the Japanese government continues to aim to \u201ccorrect the over-concentration of business in Tokyo and maximize the potential of regional areas\u201d. Shigeru Ishiba noted:<\/p>\n \u201cUtilizing blockchain technology, NFTs, etc., we will revalue and maximize the value of various analog aspects of local areas, such as food and tourism experiences, in global prices\u201d.<\/p>\n<\/blockquote>\n Additionally, Ishiba will also appoint Masaaki Taira, the current chief of LDP\u2019s Web3 task force as his government\u2019s new minister of Digital Affairs. He proposed a plan to connect diverse experiences and Japanese intellectual property (IP) to non-fungible tokens<\/a> (NFTs), making them accessible worldwide.<\/p>\n <\/p>\n Taira also proposed measures to boost crypto startups by reforming Japan\u2019s tax system. While speaking at a recent Web 3.0<\/a> conference, he said: \u201cWhen [Japanese] startup companies hold and issue tokens that are not as [well-known] as Bitcoin, accounting firms cannot conduct proper audits. This remains a problem.\u201d<\/p>\n Previous market reports suggest that Shigeru Ishiba will continue with the Bank of Japan\u2019s current policy of increasing interest rates. Furthermore, the business mood in Japan remains robust enough to support this mood.<\/p>\n <\/p>\n The sentiment index for the country\u2019s largest manufacturers remained unchanged at 13 in September, as reported in the BOJ\u2019s quarterly Tankan survey on Tuesday. Meanwhile, the index for major non-manufacturers rose to 34. Economists had predicted a decline to 12 for manufacturers and 32 for the service sector.<\/p>\n\n
Japan Prime Minister\u2019s Take on Financial Policies<\/h2>\n
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