Mobile service provider, NTT Docomo in partnership with Astar network plan to establish a web3 consortium that will enable the fast adoption of web3 in Japan.
NTT Docomo, the largest mobile service provider in Japan with annual revenues exceeding $40 billion, teamed with multi-chain smart contract platform Astar Network to speed up Web3 rollout in the country.
The collaborative endeavor will take the shape of a consortium, which will enable individuals and businesses to use tokens for governance.
A press announcement from November 9 states that Astar Network and NTT Docomo have agreed to collaborate on three essentials. They will promote sustainable development by exploring case studies for environmental challenges in Web3, attempt to overcome technology gaps on the path to wider Web3 adoption through education, and give chances for engineers and business executives to learn and gain practical experience.
The objective of the project, according to Sota Watanabe, CEO of Astar Network, is to deliver Web3 to the general population.
“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.”
Japan, which owns around one-third of Docomos’ shares, has recently demonstrated a rising interest in Web3, cryptocurrencies, and decentralized finance (DeFi).
The Digital Agency of Japan formed a decentralized autonomous organization (DAO) for Web3 research on November 2. Fukuoka, the second-largest port city in Japan, teamed with Aster Labs in late October to develop new use cases for Web3 technology.
While the country currently has rather stringent crypto rules, its prime minister has been very public about the government’s plans to spend heavily on Web3 and metaverse initiatives.
The Japan Virtual and Crypto Assets Exchange Association has also pledged to facilitate the listing of digital currencies on authorized exchanges by relaxing the screening process.
