2 years ago
According to reports, the Japanese authorities is 1 of the archetypal countries to usage non-fungible tokens (NFTs) arsenic a supplementary grant to section authorities that excelled successful a digitization competition. The awards were fixed to section authorities arsenic designation for their efforts successful utilizing integer exertion to lick section challenges.
Issuing and Distributing NFTs via a Low-Cost Blockchain
In what has been described arsenic a archetypal for the Japanese government, the country’s furniture secretariat precocious utilized non-fungible tokens (NFTs) arsenic a supplementary prize during a ceremonial to admit section governments that excelled successful a digitization competition.
According to a Coinpost report, this year’s grant ceremonial was supported by 4 exertion companies: Indiesquare, Bitflyer Holdings, Tree Digital Studio, and Tomonari Kogei. As noted successful the report, Indiesquare’s low-cost blockchain platform, the Hazama Base, was utilized to contented and administer the NFTs. Before this, the level was likewise utilized to contented and administer NFTs astatine an lawsuit held by the Liberal Democratic Party Youth Bureau.
Known arsenic the 2022 Summer Digi Denkoshien, the grant ceremonial was held to grant and admit initiatives by section authorities that “utilize integer exertion to lick section issues and amended their appeal.”
Non-Transferable NFTs
While the tokens were issued connected the Ethereum blockchain, the report, however, states the NFTs had utilized the Proof of Attendance Protocol (POAP) technology. Such tokens are non-transferable but casual to usage for commemoration and verification.
Meanwhile, different report has revealed that a full of 9 mayors had received the NFT awards. Among the dignitaries that attended the lawsuit was Japanese Prime Minister Fumio Kishida.
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