Japanese government issues NFT certificates to local governments for the first time

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Japan’s Cabinet has awarded Non Fakeable Token (NFT) awards.

According to CoinPost, the tokens were distributed to municipalities that won a nationwide digitization contest, representing their achievements in the form of “digital certificates.
The awards were presented at the Cabinet Secretariat, presided over by Chief Cabinet Secretary Hirokazu Matsuno and attended by Prime Minister Fumio Kishida and others.

The tokens were issued on the Ethernet blockchain network, but using Proof of Attendance Protocol (POAP) technology. Normally, POAP-type NFTs are used exclusively for events and are typically minted on the xDai chain. This means that Secretariat NFTs cannot be traded on the secondary market.

A number of Japanese startups, including Japan’s leading cryptocurrency exchange, bitFlyer, are providing technical support for this offering.

The media outlet noted that a similar NFT was minted and awarded at a meeting of the ruling Liberal Democratic Party’s youth wing in May of this year, but this time the issuer was the government itself, not a LDP branch, making it the first of its kind.

In all, seven mayors were honored for their government proposals on the digital economy.

These include a proposal by the mayor of Sakata City, Yamagata Prefecture, to use electric vehicles for deliveries. Maebashi City in Gunma Prefecture also received the NFT Award for its proposal for a platform that uses cell phone cameras to detect changes in traffic conditions in real time.

Kishida has mentioned NFT several times this year, and the prime minister believes that NFT and metadata-related innovation will bring Web3-driven growth to Japan–and has promised to help startups expand by reforming restrictive tax laws. As a result, regulators have followed suit, proposing revisions to the tax code.

》Chinese Version

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Japanese government issues NFT certificates to local governments for the first time最先出现在PurpleBlue。

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