Japanese Local Governments Embrace Unconventional Approaches for Economic Revitalization

In a bid to revitalize their local economies, many Japanese local governments have begun exploring innovative ways to generate additional financial resources. This month, as the new fiscal year began, some of these governments established unusual departments to pursue unconventional approaches.

One such government is the town of Nishikawa in Yamagata Prefecture. In order to secure additional funds, the town established a “kasegu,” or moneymaking, division. The focus of this new division is on promoting non-fungible tokens (NFTs) that allow people from outside the town to become digital citizens of Nishikawa. According to Tomohiro Ishikawa, head of the division, the goal is for these digital citizens to become more than just token holders by engaging with and becoming fans of the town.

As part of their strategy, the town plans to organize both in-person and online events to bring together their digital citizens. By fostering a sense of community among those who have become connected to the town through NFT ownership, the town hopes to attract interest and investment in their local economy. This approach demonstrates a willingness among Japanese local governments to experiment with unconventional methods for economic growth and community engagement.