NTT Docomo and Accenture to partner on Web3 in Japan

NTT Docomo and Accenture have partnered to support the Web3 sector in Japan. The partnership is part of an effort to enable Japan to upgrade its Web3 technology.

NTT Docomo partners with Accenture for Web3

Japan has a reputation for being a leader in nearly all sectors. The country has now turned its attention to the buzzing Web3 space. NTT Docomo and Accenture will be working together to support the growth of Web3 technology in the country. NTT is one of the largest telecom companies in Japan.

The announcement by NTT Docomo said that the institution would issue $4 billion to support the creation of a Web3 platform in Japan. This platform will strengthen Web3 technology in Japan.

NTT Docomo and Accenture will deal with this sector’s three main issues. One of these issues is environmental, social, and governance (ESG). The focus is to create a secure and reliable platform targeting Web3 users.

If NTT Docomo and Accenture address the ESG issue in Web3, it will boost the global adoption of Web3 technology. The joint program will also focus on training engineers and business leaders.

Docomo Motoyuk Ii, the president and chief executive officer of NTT, commented on this partnership, saying that Web3 was one of the “most impactful technological development since the internet.”

Motoyuk also said that partnering with Accenture would transform social infrastructure by tapping into blockchain technology and supporting the development of user security.

On the other hand, the Senior Managing Director at Accenture, Atsushi Egawa, added that working with NTT on this initiative would help create an industry that taps into blockchain technology and other digital initiatives.

Egawa said that by working with NTT, the firms would ensure fast adoption of Web3 technology. The executive added that it would tap into the expertise it had acquired over the years in regional development by working with stakeholders in the industry, the government, and experts.

Web3 in Japan

This is not the only Web3-focused initiative in Japan. The technology is already making waves in the country. The government has been leveraging this technology in its meteorological department.

The Japanese government has appointed a Digital Minister within the Cabinet to help the country move towards digital technologies. The appointment of this minister will also enable Japan to reach out to the broader Web3 space, including non-fungible tokens (NFTs), the metaverse, and blockchain technology.

Japan is also looking towards the crypto sector. The country has eased its crypto regulatory framework, making it easy for startups to list tokens within their platforms. It has also lowered the barrier to entry.

However, it is unclear whether Japan will continue with its friendly crypto regulations in the future following the recent collapse of the FTX exchange. The Japanese regulators recently ordered FTX Japan to halt OTC derivatives transactions and new deposits from users. The regulators said that FTX halting withdrawals caused the action without telling users the reason behind the decision.

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