Shigeru Ishiba, the former Japanese Defence Minister, is set to become Japan's Prime Minister next week. This comes after his recent victory in the Liberal Democratic Party (LDP) leadership election.

Ishiba's rise to power signals a new chapter for Japan's tech and economic policies, particularly in the realm of blockchain and NFTs.

Pro-Blockchain and NFT Policies

According to an official policy document from Ishiba's offices and a report by Japanese media outlet CoinPost, Ishiba is keen on leveraging blockchain technology and NFTs.

He believes these technologies can significantly boost regional economies.

"Using blockchain technology, NFTs, and more, we will look to maximize the value of a multitude of analog local products, such as food and tourism experiences. We will do this by restoring their value to global prices," Ishiba stated.

This vision aligns with previous calls from crypto industry groups. These groups have advocated for the use of NFTs and decentralized autonomous organizations (DAOs) to revitalize rural economies. Ishiba's stance has garnered widespread attention and support within the tech community.

Taira's Vision for NFTs

Taira, another prominent LDP member, has also expressed plans to use NFTs to boost the international popularity of Japanese intellectual property assets. ç

He recently hinted at the need for Japan to reform its tax system to support crypto startups. Taira criticized the current tax system as being 'not optimized' for modern-era startups.

At a recent web3 conference, he noted, 'When [Japanese] startup companies hold and issue tokens that are not as [well-known] as Bitcoin, accounting firms cannot conduct proper audits. This remains a problem.'

General Election on the Horizon

Ishiba has announced his intention to hold a general election on October 27. The LDP has been a dominant force in Japanese politics since 1955, with brief interruptions in 1993-1994 and 2009-2012.

Most observers expect the LDP to retain its majority in the Japanese lower house as the nation heads to the polls.

Digitalization and Regional Development

The policy document also addresses promoting regions with zero digital divides. Ishiba aims to achieve this by developing 'internet resources and digitalization.'

Additionally, he plans to 'correct the over-concentration of businesses in Tokyo' and 'maximize the potential of regional areas' by incentivizing startups. These measures are expected to create a more balanced and tech-savvy economic landscape across Japan.

Ishiba's policies mark a significant shift towards embracing blockchain technology and NFTs. His approach aims to revitalize regional economies and support startups, setting the stage for a new era in Japan's economic development.