Japan’s NTT DOCOMO partners with Accenture & Astar Network to accelerate adoption of Web3 November 8, 2022
Japan’s NTT DOCOMO partners with Accenture & Astar Network to accelerate adoption of Web3 <BR>
Japan’s NTT DOCOMO partners with Accenture & Astar Network to accelerate adoption of Web3
NTT DOCOMO , Japan’s largest mobile telecoms operator announced a major web3 initiative to accelerate its adoption by partnering with Accenture and Astar Network. The company with over $40 billion in annual revenue, NTT DOCOMO is also committed to investing 500 to 600 billion Yen ($3.4 bn to $4.1bn) in the web3 sector and will incorporate a subsidiary next year. Astar Network is a multichain smart contract platform that is one of the Polkadot blockchain’s parachains.
According to the release, the ultimate goal of the collaboration between NTT DOCOMO and Accenture is to facilitate the adoption of Web3 globally — enabling everyone to enjoy its advantages and benefits — while positioning Japan as a leading Web3 market.
The press release reads, “Web3 is a new iteration of the web driven by blockchain technology. It has the potential to form a new digital economy with a greater social impact than conventional economies, providing clearly defined benefits and secure environments for success.” The collaboration will take the form of a consortium, which would enable individuals and corporations to utilize tokens for governance.
NTT Docomo and Astar Network are collaborating on the thre specified fundamentals as per the press release. They will adopt actions inspired by sustainable development by reaerching enverionmental case studies. For wider Web3 adoption they will help to eliminate the technology gap by educating people. They will open opportunities for for engineers and business leaders to learn and gain practical experience.
Sota Watanabe, Astar Network CEO said the mission of the project is to bring Web3 out of a narrow tech-savvy circle to the general public. He claimed, “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.”
Motoyuki Ii, president & CEO, NTT DOCOMO said, “Web3 is the most impactful technological development since the Internet. DOCOMO, in collaboration with Accenture, will revolutionize social infrastructure by utilizing blockchain and building a safe and secure Web3 environment. We will build an environment where the power of creators and developers can come together. We are glad to be promoting the Japan-developed Web3, and we welcome individuals and companies to join us in the global development of Web3 services.”
Atsushi Egawa, a senior managing director at Accenture who leads its business in Japan, said, “Our collaboration with NTT DOCOMO is designed to create an industry platform leveraging blockchain and other digital technologies. At Accenture, we use digital technologies to help our clients achieve 360° value — which includes issues related to sustainability, inclusion and diversity, and delivering exceptional experiences. We will help accelerate adoption of Web3 by leveraging the expertise we have gained in regional development through our collaborations with stakeholders from industry, government and academia.”
Lately, Japan owns nearly about one-third of Docomos’ shares and was seen to have spiked interest Web3, crypto and decentralized finance (DeFi). To study Web3, the Digital Agency of Japan launched a research decentralized autonomous organization on Nov. 2. The country’s second-largest port city, Fukuoka, last month only partnered with Aster Labs to develop new use cases for Web3 technologies.
Web3 is already being used in Japan to provide valuable solutions for society. For instance, it’s being used to help companies and government streamline the carbon credit markets as a way to address climate change.