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NTT Docomo, the mobile phone operator, has revealed its ambitious plans to invest a staggering $4 billion in Internet 3 technology. According to a report by Nikkei, the telecom operator is keen to be a leader in the technology using fixed-eye barriers in the 2023 fiscal year.
It marks the first step in the firm’s plan to build the technology infrastructure to populate the digital asset industry. After creating the device technology, NTT Docomo says it plans to offer digital goods, exchanges, and digital wallet services to its users.
Plans to transition to Web 3 have been in the works for some time. Back in October, NTT Docomo entered into an agreement with Stake Technology, the Singaporean firm behind the Astar Network, a DLT infrastructure firm in Polkadot. NTT Docomo plans to use Astar Network’s industry expertise to create a unique offering for its users.
Astar Network called the partnership one that would yield positive returns for both parties and improve adoption rates for digital assets.
“By collaborating with NTT Docomo, a company that created case studies that have been used by ten million people, we will further expand Web3,” said Astar Network founder Sota Watanabe.
NTT Docomo will also leverage the expertise of technology firm Accenture in a bid to accelerate adoption. The Japanese government is a third party of the parent company NTT Docomo, NTT, and depending on the Internet, 3 in Japan has been interpreted as a document of commitment to the digital industry’s asset.
Japan is morphing into a digital asset paradise
Japan has adopted a strategy for a digital U-turn in 2022, a drastic step that has characterized it for nearly four years. The government is now keen to remove red tape in regulating the sector and has established an industrial policy under the Ministry of Economy, Trade and Industry (METI).
In order to better understand the ecosystem, the Ministry announced the creation of a decentralized autonomous organization (DAO). The service is noted to help the DAO to prevent actors from bad activities and to help develop proper industry standards.
The country’s ruling party and Prime Minister Fumio Kishida have declared that improving Japan’s digital economy is at the top of their agenda and that they are focusing on digital assets to achieve their goals. Binance recently returned to the country after being forced to leave by regulators in 2018.
Watch: The BSV Global Blockchain Convention panel, Web3 and BSV Blockchain
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