NTT Docomo, which is partly owned by the state, wants to speed up the adoption of Web3 in Japan.
NTT Docomo, which has more than $40 billion in annual revenue and is Japan’s largest mobile operator, teamed up with multichain smart contract platform Astar Network to speed up the implementation of Web3 in the country. The joint effort will be in the form of a consortium, which will let people and businesses use tokens for governance.
According to a Nov. 9 press statement, Astar Network and NTT Docomo have also agreed to collaborate on three essentials. They will pursue sustainable development by investigating case studies for environmental challenges in Web3, attempting to close technology gaps on the path to wider Web3 adoption through education, and providing chances for engineers and business executives to learn and gain practical experience.
CEO of Astar Network Sota Watanabe said that the goal of the project is to get Web3 out of the hands of a small group of tech-savvy people and into the hands of everyone:
“In this context, more robust cases with excellent user experience on an infrastructure that is accessible to everyone is essential. It is about making a society where more people can truly enjoy the benefits of Web3, not just engineers.”
Japan, which owns about a third of Docomos’ shares, has become more interested in Web3, cryptocurrency, and decentralized finance in recent months. On November 2, the Digital Agency of Japan started a research group that will study Web3. Fukuoka, which is the country’s second-largest port city, joined forces with Aster Labs at the end of October to come up with new ways to use Web3 technologies.
Even though the country still has pretty strict rules about crypto, its prime minister is very vocal about the government’s plans to put a lot of money into Web3 and metaverse projects. The Japan Virtual and Crypto Assets Exchange Association has also promised to make it easier for authorized exchanges to list digital currencies by making the screening process less strict.