Japan’s largest telecommunications company NTT invests $4 billion in Web3

Leading Japanese mobile operator NTT Docomo has teamed up with Accenture to invest between ¥500 billion and ¥600 billion (up to $4 billion) in the next release of Internet technology – Web3.

The partners will also provide training for those interested in the field, including business leaders and engineers.

Enter the Web3 space

According to a recent press release, NTT Docomo and Accenture will focus on three main areas: addressing ESG issues, creating a Web3 technology platform, and developing talent.

Their ultimate goal is to support global adoption of Web3, bring its benefits to consumers, and make Japan a hub for such technology. NTT Docomo plans to allocate up to $4 billion to the sector to speed up operations.

Motoyuki Ii, President and CEO of Telecom, described Web3 as “the most impactful technological development since the Internet.” He added that the partnership with Accenture will revolutionize social infrastructure by deploying the blockchain and building a secure environment for users.

Atsushi Igawa – Senior General Manager at Accenture commented on the collaboration:

“Our collaboration with NTT DOCOMO is designed to create an industrial platform that leverages blockchain and other digital technologies… We will help accelerate Web3 adoption by leveraging the experience we have gained in regional development through our collaboration with stakeholders from industry, authorities and academia.”

Web3 has already made its way through the Japanese economy. Local businesses and even the government are using technology to deal with climate issues.

Giant Telecom and Cryptocurrency

NTT Docomo is not the first example of a telecom company entering the cryptocurrency space.

British giant Vodafone teamed up with Energy Web (EW) in 2020 to connect and improve the integration of renewable energy assets, such as wind turbines, heat pumps, batteries and solar panels.

US network DISH partnered with Cardano last year to bring blockchain technology to nearly 14 million TV subscribers. Telecom is also known as one of the first companies in its field to accept cryptocurrency payments.

Spanish telecom Telefonica is also part of the list. It merged with Bit2Me in September to allow customers to pay for services in digital assets. Some of the supported currencies include Bitcoin (BTC), Ether (ETH), Litecoin (LTC), USDC, and others.

Featured image courtesy of JapanTimes

The largest Japanese telecom company NTT to invest $4 billion in Web3 appeared first on CryptoPotato.

Leave a Reply

Your email address will not be published. Required fields are marked *