A Village in Japan is Planning their own ICO
June 19, 2018 1:14 pm
A Japanese Village is Launching the Country’s first ICO on the Municipal level
A small Japanese village is shifting to digital currencies in an attempt to bolster its economy.
Nishiawakura, a village of roughly 1,500 people in the Okayama prefecture in Japan, unveiled its plan last week to start a local initial coin offering as a way to secure funding. The municipality, in particular, depends on forestry to support its economy about 95% of the town is comprised of forest area, as per village’s official announcement.
Nishiawakura’s Token Economy Association will issue Nishiawakura Coin (NAC). Meanwhile, the start date hs not yet been released, some details about the coin can be found on its official website.
Nikkei reported on June 16 that the village started the effort after the leaders recognized ICOs being widely used around the globe by companies and non – governmental organization. Officials further took note that the nation is moving ahead with the establishment of self-regulatory rules regarding the blockchain funding model.
In its release, the village quoted Mr. Yoichi Ochiai, a Japanese researcher and digital currency author, who asserted that future local government in Japan “will move away from centralization and make an aggressive investment in ICOs.”