Shigeru Ishiba to Become Japan’s New Prime Minister
Shigeru Ishiba has just been elected to the top of Japan’s ruling Liberal Democratic Party and will become the country’s next prime minister. Among the recently unveiled policy announcements, he has put great emphasis on blockchain technology and NFTs for economic revitalization in attempts to help rural areas across Japan.
Pro-Blockchain Policies for Economic Growth
He aims at leveraging blockchain and NFT technologies in adding value to local products and services, such as regional food, tourism, and so on. He intends to drive the prices of local produce up to a globally competitive level using the technologies. This call is in consonance with demands from the crypto industry, which has urged the integration of DAOs and NFTs into regional development.
Masaaki Taira to Helm Digital Affairs
For his digital portfolio, Ishiba named Masaaki Taira, till now heading the LDP web3 task force as Minister of Digital Affairs. Taira was very vocal in calling for the reform of Japan’s crypto regulations; earlier, he pointedly mentioned that changes in the current tax system are necessary and should be adjusted to startups dealing with the blockchain and crypto world.
Japan Gears Up for General Election
He has announced that a general election is to be held on October 27. Japan’s LDP has, since 1955, been in power almost continuously and, indeed, analysts do not see any changes in the party’s majority in the lower house. Its decision for or against pro-blockchain Ishiba could be crucial for Japan’s economic future, particularly in light of the rapidly changing digital economy.
Digitalization and Regional Revitalization
Apart from blockchain and NFT policies, Ishiba’s plans also look toward bridging the gap between urban and rural areas in terms of digitization. As a matter of fact, he wants to decentralize the business that is concentrated in Tokyo by being able to give more power to regional startups and fostering digitalization of economies in rural areas.
The political and economic profile of Japan might get rewritten under the helm of Ishiba when innovation and new technologies meet.
