VeChain Foundation has announced the project has been selected by NTT Docomo to be part of the first batch of partners for the 5G Open Partner Program.
NTT Docomo, the largest telecommunication company in Japan aims to materialize the industrial usage of the high-speed 5G network service by 2020.
The open partner program
NTT Docomo launched the Docomo 5G Open Partner Program in Feb. 2018 with the aim of achieving industrial usage in 2020, which coincidentally is the year Japan would be hosting the Olympics.
In this program, NTT Docomo will provide its partners with the environment of 5G technology verification (high-speed/capacity, low-latency, connecting several devices) as well as the workshops for partners to communicate with each other.
The addition of a leading public blockchain platform, is part of the company’s plans to involve a wider range of partners as it works to achieve industrial usage of the 5G network.
“Our goal is to enhance and enrich our current data services capacity within traceability, supply chain management, and smartphones for our users. With our ongoing effort to bring traceability use cases in Japan into our ecosystem, the 5G program will bring additional value to VeChain’s presence in the region.”
Asides from VeChain Foundation, some other major partners in the program include governments, enterprises in multiple industries such as banking, automobile, media, pharmaceuticals, insurance etc.
The company believes the usage of the 5G service will eventually involve the cloud technology, IoT, in order to realize new ways of watching sports games involving VR technology, automatic drive and smart lifestyle etc.
About NNT Docomo
NTT Docomo was founded in 1991, and is currently the largest telecommunication company in Japan, with an operating revenue of $22.9 billion.
Over time, the company has broadened its business coverage, now offering smart life such as the distribution of digital content and mobile payment etc.
According to a March 2018, statistics, NNT Docomo accounts for a 45.3% share of all mobile phone subscriptions in Japan.
The estimated 2018 market capitalization of NTT Docomo makes it the 2nd largest company in Japan, just after Toyota, in 2018.
What VeChain will benefit from the partnership?
As a partner of the 5G Open Partner Program, VeChain will now leverage the quality 5G services NNT Docomo offers to construct their new services.
VeChain Foundation has announced that aims to provide next-generation technology services by utilizing 5G in collaboration with NTT Docomo on the VeChainThor Blockchain.
By combining the power and possibilities of the new VeChainThor blockchain technology with NTT Docomo’s 5G, VeChain could build a more formidable network.
In speaking about the partnership, VeChain Foundation stated thus:
“We are proud to participate in this program, collaborating with multiple cross-industry enterprises. This partnership program has already opened new doors for further cooperation on new endeavors. As a result, many new partnerships have been formulated and services will be on-boarded to the VeChainThor Blockchain.”
VeChain also stands the chance of benefiting from the wide coverage of Docomo in Japan and its strong brand power. This partnership could help VeChain ship its traceability use cases into the Japanese market.