A local Japanese government is considering a municipal initial coin offering (ICO) in order to raise funds to revitalize the region. It has partnered with private enterprises to begin research into how to launch the mooted ICO.
Japanese Government Planning an ICO
Nishiawakura, a village located in Okayama Prefecture, has announced that it will “begin a joint research for the introduction of a local government ICO.”
The village has a population of approximately 1,500 and forests that occupy about 95% of its total area. In 2009, its “100 Year Forest” project was initiated with the aim of creating a beautiful “high-quality countryside.” According to the announcement:
We have actively worked on unique measures to revitalize the region. In order to continue investing in such sectors and realize a sustainable community development, we have started research on the introduction of a municipal ICO in collaboration with private enterprises, and how it is possible to use a municipal ICO as a new financial source for the village.
The village hopes that the municipal ICO will “encourage unprecedented inflow and circulation of funds,” the announcement read…