Entertainment giant Sony is the latest company to join the trend of Japanese companies looking to use blockchain technology, a trend that has brought challenges for the Japanese government.
Sony officially unveiled a digital ledger, Soneium, last month, with the expectation that developers will use it to create applications to enhance the company’s offerings. Exactly how is still under development, but the general idea is that crossing Soneium with gaming, music and movies could open up opportunities.
Other Japanese companies exploring various blockchain-related initiatives include Nippon Telegraph & Telephone, Toyota and Mitsubishi UFJ Financial Group. The latter, Japan’s largest bank, is exploring issuing stablecoins, a type of digital token intended to maintain a constant value.
