In keeping with stories, the Japanese authorities is among the first international locations to make use of non-fungible tokens (NFTs) as a supplementary award to native authorities that excelled in a digitization competitors. The awards got to native authorities as recognition for his or her efforts in utilizing digital expertise to unravel native challenges.
Issuing and Distributing NFTs by way of a Low-Price Blockchain
In what has been described as a primary for the Japanese authorities, the nation’s cupboard secretariat not too long ago used non-fungible tokens (NFTs) as a supplementary prize throughout a ceremony to acknowledge native governments that excelled in a digitization competitors.
In keeping with a Coinpost report, this 12 months’s award ceremony was supported by 4 expertise firms: Indiesquare, Bitflyer Holdings, Tree Digital Studio, and Tomonari Kogei. As famous in the report, Indiesquare’s low-cost blockchain platform, the Hazama Base, was used to concern and distribute the NFTs. Earlier than this, the platform was equally used to concern and distribute NFTs at an occasion held by the Liberal Democratic Get together Youth Bureau.
Generally known as the 2022 Summer season Digi Denkoshien, the award ceremony was held to honor and acknowledge initiatives by native authorities that “make the most of digital expertise to unravel native points and enhance their enchantment.”
Non-Transferable NFTs
Whereas the tokens have been issued on the Ethereum blockchain, the report, nevertheless, states the NFTs had used the Proof of Attendance Protocol (POAP) expertise. Such tokens are non-transferable however simple to make use of for commemoration and verification.
In the meantime, one other report has revealed {that a} whole of 9 mayors had acquired the NFT awards. Among the many dignitaries that attended the occasion was Japanese Prime Minister Fumio Kishida.
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