Announced just a few minutes ago, Vechain’s newest partner appears to be Japan-based NIppon Telegraph and Telephone. News has been announced on Vechain’s official Medium blog.
The partnership is part of a broad program by NTT Docomo (the second largest company in Japan by market cap) which includes several other prominent Japanese and international businesses. The aim of the program is to achieve broad use of 5G technology in the coming years.
Vechain joins the ranks of companies like Sony, MUFG bank and others—but as the blockchain and crypto partner in the pile. This is an important step for Vechain (whose coin VET has seen a serious price bleed lately due to a long token swap), as it solidifies another use of its enterprise-focused blockchain.
NTT Docomo represents another enormous enterprise partner for Vechain. And though each partner will utilize its blockchain service differently, other partners like DNV GL and BMW show that Vechain is attracting big names and big money around the world.
Its token economics also suggest that the more use the chain gets, the more valuable its coin (VET) and its offshot production of that coin (VTHO) become. So having NTT Docomo and its other partners think about blockchain as a means to expand 5G services could be massive.
Vechain added this to the announcement, a bullish sign for sure for the coin’s use:
“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 onboarded to the VeChainThor Blockchain. Notably, VeChain is currently in close talks with a leading company in one of the most notable Japanese industries. By combining our technology with NTT Docomo’s 5G, the power of the VeChainThor Blockchain continues to become stronger.”
Keep an eye on this announcement. Any time NTT Docomo announces this its newsworthy, but to have one blockchain partner in the mix is a positive sign for the industry and Vechain
Photo courtesy of Vechain