Docomo Bets Big on Web3

Akihabara News (Tokyo) — NTT Docomo has committed to a ¥600 billion (US$4 billion) investment over the next five years in Web3 infrastructure.

The mobile phone giant has partnered with the Astar Foundation, the Tokyo-based developers of the Astar Network blockchain, and Accenture, a digital services consultancy firm based in Ireland.

NTT Docomo President and CEO Motoyuki Ii described this as an opportunity to “revolutionize social infrastructure by utilizing blockchain and building a safe and a secure Web3 environment.”

NTT Docomo has not yet revealed specific plans.

However, Ledger Insights, a blockchain news aggregate, speculates that Docomo may be aiming to use Web3 to create a carbon credit scheme aiming at encouraging environmentally responsible polices within the national economy.

Docomo’s moves come in the context of government initiatives such as Prime Minister Fumio Kishida’s desire, expressed in May, to “develop an environment for the promotion of Web3.” The Ministry of Economy, Trade and Industry (METI) also launched a Web3 Policy Office in July to aid domestic development of the technology.

Web3 refers to a series of technologies and practices that constitute a new decentralized age of e-commerce and communication. The concept envisions a World Wide Web based on blockchain, a digital ledger which functions independently of any central authority. It is therefore said to represent a more secure and democratized information highway.

For his part, Ii described Web3 as “the most impactful technological development since the internet.”

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