To speed the spread of web3 technology in Japan, NTT Docomo and Astar Network have partnered up. To help overcome acceptance obstacles, economic and environmental difficulties, and opportunities for company leaders and engineers to learn more about web3, Japan’s leading mobile operator is investing 500-600 billion yuan (approximately $4 billion) in the next web version.
Web3 is a blockchain-powered, next-internet system that puts privacy protection, decentralized apps, and trustworthy messaging at the center.
In the 2023 financial year, NTT Docomo and Astar plan to launch a joint web3 company
Large corporations throughout the world are funding the development of web3 infrastructure in an effort to strengthen the safety of the internet. This ecosystem’s limited exposure to the outside world has prevented it from gaining wide societal support.
Thus, blockchain companies are teaming up with consumer-facing companies to expand their impact.
According to Statista, by the end of the financial year 2021, NTT Docomo had approximately 84.8 million mobile phone subscribers. With $44.4 billion in sales in financial year 2021, the company easily surpassed all other Japanese mobile network operators, according to statistics from Macro Trends.
The Astar network is a decentralized smart contract platform that is compatible with numerous blockchain protocols. It connects Ethereum, Cosmos, and all major Layer 1 Blockchains to the Polkadot ecosystem, which is powered by parachain and was developed by Ethereum co-founder Gavin Wood.
By using its multi-chain network, Astar will help NTT Docomo migrate a sizable chunk of its massive user base to web3. The two organizations will collaborate to help solve technological, social, and organizational problems.
It was announced that Astar and NTT Docomo would be forming a partnership to manage the adoption of governance tokens within businesses, opening the door for decentralized, blockchain-based decision-making.
“Web3 and related technologies are about to cross the chasm and are on the verge of mass adoption. 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. 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 CEO Sota Watanabe said in a press statement.
NTT, NTT Docomo’s parent company, is owned by the Japanese government for 30%.
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