The Japanese village Nishiasakusa Okayama Prefecture announced the start of the primary placement of coins (ICO). Officials studied the possibility to strengthen the economy of the village due to the ICO since November 2017. This writes Bitcoin.com.
With ICO and its cryptocurrency, the authorities hope to receive money for “a sustainable economy of the region in the future supply of the municipal authorities of new financial resources and development of the region with a starting investment.”
We will note, lives in the village of about 1,500 people, and 95% of the area is covered by forests. In the early 2000s, when all the municipalities were merged in city district, Nishiasakusa managed to remain economically independent village and since the authorities are looking for funds for its development.
Local Association of the economy will issue a token called Nishiawakura Coin (NAC). Coin holders will have the right to vote, which will enable them to participate in decision-making in respect of enterprises in the village.
“We will act in accordance with local laws and regulations of industry self-regulation of cryptocurrencies, developed by the Japanese Association kripalani exchanges”, the statement reads officials.
We will remind, in April, Japan has developed guidelines to regulate ICO.