NTT Docomo, the major Japanese mobile phone company, partnered with a global professional services company Accenture to invest up to 500 and 600 billion yen (up to $4 billion) on Web3 technology.
NTT Docomo and Accenture outline their plans to tackle environmental, social, and governance (ESG) challenges, and to build a technology platform for Web3. The objective is to encourage Web3 acceptance worldwide, educate consumers about its benefits, and establish Japan as a center for the development of this technology. To accelerate procedures, NTT Docomo plans to invest up to $4 billion into the industry.
Partners will also offer training programs for individuals like business executives and engineers that are interested in the sector. One such company is Telefonica, the Spanish telecom giant. In September, Telefonica partnered with Bit2Me to accept cryptocurrency payments in an effort to allow users to pay for services in Bitcoin. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and USD Coin are just some of the coins that were accepted at the time.
NTT Docomo partners Accenture
Also weighing the partnership was Accenture’s Senior Managing Director, Atsushi Egawa: “Our collaboration with NTT DOCOMO is designed to create an industry platform leveraging blockchain and other digital technologies…” He added:
“We will help accelerate the adoption of Web3 by leveraging the expertise we have gained in regional development through our collaborations with stakeholders from industry, government, and academia.”
NTT Docomo president and CEO Motoyuki Li deemed Web3 “the most impactful technological development since the Internet.” He went on to say that the partnership with Accenture would change social infrastructure through the use of blockchain technology and lead to form a safe space for users.
The Web3 standard has already reached the Japanese market. The government and private businesses in the area use the technology to address climate change.
Notably, In a speech on October 3, Japanese Prime Minister Fumio Kishida specifically mentioned the government’s efforts to promote Web3.0 services. Recently, as part of its efforts to modernize its economy, the Japanese central government has begun issuing metaverse and Non-fungible Tokens (NFTs) to local governments that implement digital solutions.