VeChain has been chosen as one of the partners for the 5G Partner Program of Japan’s largest telecommunication company NTT. This is an exciting opportunity for VeChain and it seems that the new network could be put to use by some point in 2020.
VeChain will be working in collaboration with NTT to improve the security levels of the network with its advanced blockchain technology, something it has special expertise in. The system is primarily aimed at enhancing the telecommunication networks of Japan by improving speed as well as security. The first level of this partnership will be in the industrial sphere where the two partner companies will work towards improving tracking abilities in the various kinds of supply chains employed in different sectors. Japan could do something in terms of improving its tracing and tracking technologies and VeChain’s blockchain tech could be of use.
Both companies are extremely enthusiastic about the partnership seeing how fruitful it can turn out to be. With this, other companies are also sitting up and taking notice of VeChain and are expressing willingness to work with their advanced blockchain management capacity. Observers feel that VeChain might be able to beat other competitors in the field and continue to develop the best solutions.
The optimism shared by most observers seems justified since both these companies are rather well-positioned for success. NTT Docomo has been hugely successful in the Japanese telecommunications scene and has moved beyond the ambit of this industry to explore opportunities in content, payment processing, cloud services etc. Their areas of operations are constantly expanding and improving, giving the company a great deal of hope for the future.
This new partnership could lead to fresh forms of industrial usage and new connections could be forged using the 5G Network. With support and backing from giants such as Sony and MUFG Bank, and the expertise that both companies have, this partnership could lead to something momentous. We can even hope that other investors will follow suit and the partnership will bring about some massive growth on a scale not seen before. Indeed, it appears that newer brands could hop on board and make this project an even bigger success than it is currently slated to be. With good implementation, it could go far beyond simply revolutionising the Japanese telecommunications industry and have an impact on various spheres.