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Taro Kono’s Meet with Ethereum’s Co-Founder
In Japan, expectations are high that the government would prioritize Web3 growth in its economic objectives following the appointment of a new minister for digital affairs by the country’s Prime Minister. The lawmaker Taro Kono declared on Twitter that he had been chosen for the position in the most recent cabinet shuffle by the prime minister, Fumio Kishida.
The nomination appears to be a direct statement of Kishida’s goals: Kono is a former CEO in the IT industry, has a sizable social media following, attended Georgetown University in the past, and speaks English extremely well. Prior to that, he oversaw the foreign ministry and was the previous Minister of State for Administrative Reform.
While acting as the nation’s foreign minister, Taro Kono had a face-to-face meeting with Aya Miyaguchi, the executive director, and Ethereum co-founder Vitalik Buterin (ETH). Kono narrowly lost to Kishida in the Liberal Democratic Party (LDP) leadership race last year. If he had won, he would have been prime minister.
LDP’s Optimism over the Expansion of Web3
More recently, he requested the creation of a digital avatar from his 2.4 million Twitter followers so he could use it in metaverse settings. The government-run Digital Agency, which was founded in 2009 with the aims of digitizing government processes, bridging the technology divide between rural and urban areas, and promoting IT-based development, will have Kono as its director.
But in recent months, Kishida and the dominant LDP have expressed optimism over the expansion of Web3. Tokyo looks to be taking its efforts in this area very seriously right now if the appointment of a minister with Kono’s influence to properly lead this endeavour is any indication. Talk of crypto tax reform has been sparked by opposition lawmakers and industry executives warning that top Japanese blockchain and cryptocurrency expertise is leaving the country owing to onerous tax rates.
Kishida also mentioned advancements in the metaverse and non-fungible token (NFT) space during a May visit to the UK, when he told British investors that his government was concentrating on Web3-related growth. Sources claim that the Ministry of Economy, Trade, and Industry established the new Web3 Promotional Office last month. In the latter, it was described as a cross-ministerial institution.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
