Japan’s new Prime Minister, Shigeru Ishiba, took office on October 1. His plans and cabinet choices suggest he will support blockchain technology like his predecessor, Fumio Kishida. Ishiba aims to use blockchain to help solve Japan’s economic challenges.
Modernizing Traditional Industries with Blockchain
Ishiba’s plan focuses on using blockchain and NFTs to update local industries like food and tourism. The goal is to boost the digital value of these industries and help them compete better in today’s economy.
Mixed Opinions on Ishiba’s Crypto Vision
Will Fee, a researcher at the Japanese consulting firm Yuri Group, shares his thoughts on Ishiba. He believes that, as a conservative politician, Ishiba may not have strong personal views on cryptocurrency. Instead, he might be following the advice of party officials rather than his own beliefs.
Fee views this as a good sign for Japan’s crypto industry. The biggest supporter of Web3 technology is Masaaki Taira, the former tech leader of the ruling Liberal Democratic Party. He is now the digital minister in Ishiba’s cabinet.
Future Prospects for Japan’s Crypto Landscape
Fee believes that Taira will keep pushing for Web3 adoption in his new role. This could bring more support and growth for blockchain in Japan, helping the country keep up with global trends in the crypto world.
In summary, Ishiba’s administration shows promise for blockchain and cryptocurrency in Japan. With the right leadership and policies, the country could see significant growth in its digital economy.
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