Japanese Carrier NTT Docomo Intends To Invest $4.1B In Web3
![Snorlax](/_next/static/media/avatar.26ed668b.png)
Snorlax
Nov 9, 2022•1 min read
![Japanese Carrier NTT Docomo Intends To Invest $4.1B In Web3](https://d1j2c9jkfhu70p.cloudfront.net/ghost/2022/11/Heading---Sub--7-.png)
NTT Docomo, Japan's largest mobile network, has committed to investing up to 600 billion yen ($4 billion) on Web3 infrastructure.
They plan to form a consortium that will allow people and companies to use tokens for governance. "We will further disseminate Web3 by collaborating with NTT Docomo, a firm that has generated case studies that have been utilized by tens of millions of people," Astar Network founder Sota Watanabe said in a statement.
The Japanese government owns one-third of NTT Docomo's parent business, NTT.
Japan's Web3 strategy was given a boost this year by legislators eager to cut red tape and speed up the decision-making process. The Ministry of Economy, Trade, and Industry now has a Web3 policy office (METI). The country's digital ministry stated last week that it will establish a decentralized autonomous organization (DAO) to investigate Web3 technology.
Tags
Author
Snorlax