Cryptocurrency, Technology

Japan Eager to Invest in Metaverse and NFTs Inorder to Drive Web3 Industry Forward

Written by Abdullah Shahid ·  1 min read >
Japan to invest in Web3 and Metaverse
Prime Minister Fumio Kishida said that the government will continue its focus on digital technology and the implementation of Web3 services

While many prominent world leaders stay unaware about new technology and the blockchain, Japan seems to be on a different level. Japan’s Prime Minister ‘Fumio Kishida’, a blockchain and Web3 enthusiast has come forward with plans to expand investments in NFTs and metaverse. Kishida believes that doing this will help Japan expand on its plan of a country wide Web3 implementation.

Kishida announced his plans to expand investments into the metaverse and NFTs in a public policy speech on October 3. Sticking to his stance, he said that the Japanese government will continue embracing technological solutions. Apart from that, the government will now heavily promote the implementation of Web3 services.

Apart from discussing his future plans, Kishida also took a sneak peek at the past. In one year of Kishida’s government, the country has gone through a digital transformation. Many local authorities now have their own NFTs whereas the government is also using tech to solve jurisdictional issues.

Kishida, a Web3 enthusiast, got into the office in 2021. His arrival for the most part has proven to be great for the country’s tech industry. Stepping into power, Kishida announced that Web3 development will be a pillar of economic revitalization during his era.

Being so positive about block chain and its promotion, Kishida has attracted a lot of Web3 players into the country. The PM also went on to introduce newer programs that promote technology as a whole. Just this September, the Japanese government gave NFTs to seven local mayors as a reward for bringing out technological solutions.

On a smooth road towards being a leading name in the Web3 world, the Japanese government also plans to regulate crypto. The country will soon implement regulations that will limit the amount of money laundering done using crypto currency.

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