Telecom Giant KDDI Joins Enterprise Ethereum Alliance

Japanese telecom giant KDDI has become the latest major corporation to join the ranks of the Enterprise Ethereum Alliance.

AccessTimeIconSep 29, 2017 at 9:00 a.m. UTC
Updated Sep 13, 2021 at 6:58 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Japanese telecommunications conglomerate KDDI Corporation has joined the Enterprise Ethereum Alliance.

KDDI, which is ranked number 219 on the Fortune Global 500 list, also revealed it is working with Japanese startup Couger on a smart contracts proof-of-concept built using technology developed through the enterprise-focused ethereum consortium. KDDI's work with blockchain will also see it partnering with blockchain startup Trident-Arts and legal tech firm Kentauros Works.

The telco is the latest major corporation to join the Alliance, which launched in February with the backing of companies like BP, JPMorgan Chase and Microsoft, among others.

In particular, KDDI indicated that it plans to test how blockchain-based smart contracts – self-executing pieces of code triggered when certain conditions are met – can be used for facilitating payments between companies.

The firm explained:

"This proof-of-concept will extend beyond blockchains utilized by existing business and will validate business and technical issues and benefits for (a) Open services built on platforms such as the Ethereum and includes non-financial interactions, and (b) Smart Contracts for coordination with partner company services."

Testing will also include possible applications for mobile phone repair services. A smart contract will be used to determine how much the phone would cost to repair, how much the phone costs on the used market and whether there are any other factors that would be accounted for in the cost.

KDDI further plans to explore how artificial intelligence and connected devices (IoT), among other technologies, could aid in the development of a "next generation service platform," according to the press release.

Workmen image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.