Japanese President Fumio Kishida (Fumio Kishida) has stepped forward to apply blockchain technology as a potential solution to technical problems encountered in host countries.

In response to a question raised by Liberal Democratic Party legislator Masahara Taihara, Fumio Kishida made it clear at the Budget Committee of the US House of Representatives in Japan on February 1 that there is a greater possibility of using Web3 in Japan. He added that the Japanese government could use irreplaceable dynamic passwords (NFTs) and decentralized autonomous organizations (DAO) to diligently revive regions and promote "Cool Japan"-a strategy dedicated to showcasing national innovation and culture to the rest of the world.

"if you consider DAOS, people who are interested in the same social phenomenon can form a new community," Kishida said. NFT can also be used to diversify the benefits of creators and maintain high-satisfaction fans.

Tara is the chairman of the country's current Web3 policy, especially the research group. He mentioned collaboration with Japanese tax authorities and scientific research on the sale of data blocks. The people's Bank of China announced in November that it plans to start a digital currency demonstration site program in the spring of 2023.

"I think these categories of blockchain applications and the expertise in using Web3 are useful in dealing with all kinds of problems," Tara said. "

Since taking office in October 2021, Mr. Kishida has sometimes talked about the intentions of Japan's public infrastructure Web3 services projects as part of the country's digital transformation. In September of this year, its cabinet system allowed the distribution of NFT as a reward for the use of electronic information technology to solve problems by local authorities.

The deputy director of strategic planning and management of Japan's Financial Agency has called for stricter standards for login passwords, similar to rules for financial institutions. In the downtown login password market, trading centers, including Coinbase and Kraken, have already shut down projects in Japan, while local branches of bankrupt company FTX must suspend business processes by March 9.