Japanese Prime Minister Fumio Kishida has spoken out in favour of introducing blockchain and Web3 in public administration as well as to solve Japan's cultural and technological problems.
At a meeting of the Japanese House Budget Committee, Kishida expressed his view that the administration has "every opportunity to use Web3 technology" to solve cultural and technical issues. He also noted that the Japanese government can take advantage of components such as the NFT and DAO in an effort to rejuvenate districts and promote 'Cool Japan', to demonstrate Japan's cultural and technological achievements to the international community.
Fumio Kishida stressed that DAOs provide a platform for people who share the same social problems to join together and form a new society, while NFTs can be used to diversify the income of those who have created DAOs as well as to strengthen community participation.
The Japanese government aims to promote the digitisation of prefectures using Web3 applications such as metaverse, DAO and NFT to accelerate local government responsibilities.
In October 2022, JCB, Japan's national payment system, announced the launch of work on a new retail item - a bank card that allows payments using the digital yen.
