TAIPEI (Taiwan News) — The newly formed Ministry of Digital Affairs (MODA) plans to issue a non-fungible token (NFT) of its own to counter misunderstandings about the item, Minister Audrey Tang (唐鳳) told the Economic Daily News Wednesday (Sept. 21).
A lack of public understanding about the nature of NFTs had led to frequent scams, she said. In contrast, everyone was familiar with the use of smartphones, so telecom fraud was far less likely to be successful, according to the minister.
Tang said MODA would help the public understand the concept and practice of NFTs in order to counter cases of fraud. One of the methods was for the ministry to launch NFTs of its own to show the public they were not merely instruments used by scammers, she said.
Until the launch of MODA last August, Tang served as minister without portfolio, but was already in charge of digital issues.