Sony, the large Japanese consumer electronics and entertainment company, has announced plans to develop its own blockchain network. This makes Sony the latest major Japanese firm to make a move into the Web3 and blockchain space.
Sony’s IT subsidiary Sony Network Communications will lead the blockchain project, working together with Startale Labs, a Singapore-based company. The two companies will launch a joint venture called Sony Network Communications Labs later this month.
Until now, Sony Network Communications has focused mainly on Internet of Things technology. But now it appears ready to shift its attention to blockchain.
The CEO of Startale called Sony’s announcement a historic event. He said the companies will jointly develop Sony’s blockchain network. He believes it could surpass oinbase-clarifies-indian-service-continuation-amid-confusion">oinbase">Coinbase‘s blockchain and become the top blockchain project worldwide.
Sony said its subsidiary will utilize its strengths in IoT, AI, and solutions to help build global infrastructure for the Web3 era.
Sony has been active in blockchain since 2018, working on blockchain rights management for digital content. In 2020, it started trialing blockchain platforms for Sony Music pop acts in Japan.
The Sony blockchain news comes as many major Japanese firms make moves into Web3, blockchain, metaverse, and NFTs. These include Casio, Mizuno, Asics, Mitsubishi UFJ Bank, Nissan, Toyota, and Honda.
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