Japanese Government Presents Local Authorities with NFTs in National First
Japan’s cabinet has handed out non-fungible token (NFT) awards – in a new first for the nation’s government. The tokens were distributed to the local government authority winners of a nationwide digitization competition and represent “digital certificates” of achievement, CoinPost reported.
The awards were handed out by the Cabinet Secretariat, a government agency that its headed by the nation’s Chief Cabinet Secretary Hirokazu Matsuno, at an event that saw the likes of Prime Minister Fumio Kishida attend. The tokens were issued on the Ethereum blockchain network, but made use of Proof of Attendance Protocol (POAP) technology. Typically, POAP-type NFTs are used at exclusive events and are usually minted on the xDai chain. This means that the Secretariat’s NFTs cannot be traded on secondary markets.
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