Japanese Telecom Giant NTT Docomo to Pour $4 Billion Into Web3

• The telecom giant partnered with the consulting firm Accenture.
• The firm wants to make Japan a center for Web3 innovation.

NTT Docomo, the leading mobile phone operator in Japan, partnered with the consulting firm Accenture to invest up to $4 billion in Web3 technology, the third generation of the Internet. The collaboration also includes educational opportunities for corporate executives and engineers interested in the topic.

A joint press statement from NTT Docomo and Accenture outlines their plans. It aims to address ESG challenges, build a technological platform for Web3, and nurture talent. To make Japan a center for Web3 innovation and spread its advantages to customers throughout the world is their ultimate objective. To hasten the procedures, NTT Docomo plans to invest up to $4 billion.

Web3 Adoption on Rise

Motoyuki Ii – President and CEO of NTT Docomo – described Web3 as “the most impactful technological development since the Internet.”  He went on to say that the partnership with Accenture will change social infrastructure via the use of blockchain technology and the creation of a secure environment for users.

In Japan, Web3 is already widely used. Businesses and the government use the technology to combat climate change. It’s not unprecedented for telecommunications companies like NTT Docomo to dabble in the crypto sector.

In 2020, the British telecommunications and media conglomerate Vodafone partnered with the blockchain technology company Energy Web (EW) to better link and integrate renewable energy assets including wind turbines, heat pumps, batteries, and solar panels.

DISH Network, an American satellite TV provider, teamed up with Cardano last year to provide blockchain technology to its approximately 14 million customers. In addition to being an industry leader, the telecom company was one of the first to accept crypto.

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