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The Leading Mobile Provider In Japan Will Form Web3 Consortium

NTT Docomo, Japan’s largest mobile provider, which provides phone, video phone, i-mode, and mail services with annual sales of over $40 billion, has teamed with the multichain smart contract platform Astar Network to speed up the adoption of Web3 across the nation.

The collaborative effort will take the shape of a consortium, which will provide individuals, businesses, and other organizations with the opportunity to use tokens for governance purposes. This will enable them to control the provision of public services, in an efficient and transparent manner.

According to a press statement that was issued on November 9, Astar Network and NTT Docomo have reportedly reached an agreement to explicitly cooperate on three bases. They will pursue sustainable development by researching case studies for environmental issues in Web 3, trying to eliminate technology gaps on the road to wider Web 3 adoption by educating people, and providing opportunities for engineers and business leaders to learn and gain practical experience.

Japan, which owns around one-third of Docomo’s shares, has recently shown a rising interest in Web 3, cryptocurrency, and decentralized finance (DeFi). The Japan Digital Agency established a decentralized autonomous research organization on November 2 with the purpose of investigating Web 3. Fukuoka, the city that has the title of second-largest port in the nation, entered into a partnership with Aster Labs at the end of October to create new use cases for Web3 technology.

Despite the fact that the nation still has some quite stringent crypto rules, the prime minister of the country has been rather open about the aspirations of the government to make substantial investments in Web3 and metaverse projects. In addition to this, the Japan Virtual and Crypto Assets Exchange Association has committed to simplifying the authorization process.

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Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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