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Japan Mobile-Phone Operator NTT Docomo to Invest $4B Into Web3
The operator will collaborate with Astar Foundation and Accenture to speed up Web 3 adoption in the country.
By Lavender Au
Updated May 9, 2023, 4:01 a.m. Published Nov 8, 2022, 4:44 p.m.
NTT Docomo, Japan's largest mobile-phone network, pledged to invest up to 600 billion yen (US$4 billion) into Web3 infrastructure. The company will collaborate with Astar Foundation, the developer of the public blockchain Astar Network, and Accenture to speed up Web3 adoption, according to a statement provided to CoinDesk.
They will set up a consortium that allows individuals and corporations to utilize tokens for governance. “Collaborating with NTT Docomo, a company that has created case studies that have been used by tens of millions of people, we will further spread Web3,” Astar Network founder Sota Watanabe said in the statement.
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Japan's government owns one third of the stock of NTT Docomo’s parent company, NTT.
Japan's Web3 policy has been given by a jumpstart this year by politicians keen to do away with red tape and a customarily slow decision-making process. A Web3 policy office now exists under the Ministry of Economy, Trade and Industry (METI). Last week, the country's digital ministry announced it would create a decentralized autonomous organization (DAO) to explore Web3 technology.
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