NTT Docomo, Japan’s largest mobile telephone network, has pledged to invest 600 billion yen in Web3 infrastructure. According to the statement, the company will collaborate with the Astar Foundation and Accenture, the altcoin developer of the public blockchain Astar Network, to accelerate Web3 adoption.
They will also form a consortium that will allow individuals and companies to use tokens for governance. Sota Watanabe, founder of Astar Network, said in a statement:
“We will further expand Web3 by collaborating with NTT Docomo, a company that produces case studies used by tens of millions of people.”
The Japanese government owns a third of the shares of NTT Docomo’s parent company, NTT. Japan’s Web3 policy has been swiftly implemented this year by politicians seeking to eliminate bureaucracy and the traditional slow decision-making process.
There is now a Web3 policy office within the Ministry of Economy, Trade and Industry (METI). Last week, the country’s digital ministry announced it would create a decentralized autonomous organization (DAO) to research Web3 technology.
Sota Watanabe, CEO of Astar Network, said that the mission of the project is to bring Web3 out of a narrow tech-savvy circle and reach the general public:
“In this context, more robust applications with great user experiences on an infrastructure that anyone can access is crucial. It’s about creating a society where more people, not just engineers, can truly enjoy the benefits of Web3.”