Japan Open to Using Web 3.0 to Publicize Innovations

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  • Japan’s prime minister Fumio Kishida has said that Web 3.0 can help the country showcase its innovations to the world
  • Kishida considers DAOs and NFTs as the most potent Web 3.0 features
  • The prime minister sees virtual collectibles as a way for digital artists to connect with their fans

Japan has expressed its willingness to use Web 3.0 technology to showcase its innovations to the world. According to the country’s prime minister Fumio Kishida, decentralized autonomous organizations (DAOs) and NFTs can help bring communities together around a common issue while also allowing artists to connect with their fans. Another government official, Masaaki Taira, noted that the technology has the potential to solve some of Japan’s current problems.

DAOs and NFTs Have no Geographical Boundaries

Speaking before Japan’s lower house (House of Representatives) budget committee, Kishida acknowledged that Web 3.0 technology has a place in the country’s future. The prime minister mentioned NFTs and DAOs as some Web 3.0 features that can help display the country’s innovations without being hindered by geographical boundaries. 

According to Kishida, DAOs can bring together a community to discuss a common problem while virtual collectibles can strengthen the bond between digital artists and their loyal followers.  Tara, who’s directly involved in policing Japan’s Web 3.0 space, supported Kushida’s views adding that Web 3.0 technology can be tapped to solve Japan’s “various problems.” 

NFTs for Local Authorities 

The Japanese government isn’t a stranger to NFTs seeing that last year it launched NFTs rewards for mayors who implement technological initiatives to tackle local challenges. In October last year, Kishida disclosed that Japan will invest in the metaverse and digital collectibles in collaboration with the United States. 

China, South Korea and Tuvalu are among the countries exploring possibilities in the Web 3.0 space, an indication that governments are ready to embrace technology in their service delivery.