- Sony, known for iconic products like the Walkman and PlayStation, is now venturing into blockchain technology with its own platform, “Soneium”.
- In July, Sony revealed plans for a crypto exchange to diversify beyond electronics and gaming.
- “Soneium” is described as the infrastructure backbone for Web3 and will function as an Ethereum layer-2 solution.
- Sony aims to democratise blockchain access, targeting widespread use and promoting decentralisation.
Walkman, Betamax and PlayStation are just some of the developments Sony, the Japanese conglomerate has given us over the years. Now, the company that started out with electric rice cookers in the 1940s, is cooking up its own blockchain, deepening its foray into web3.
Related: Revealed: 60% of the Biggest Hedge Funds Hold Bitcoin, Disclosures Show
Earlier in July, Sony announced they would launch a crypto exchange, which will expand the company’s portfolio beyond electronics and gaming.
Now, Sony issued a release late Friday detailing that they are working on a blockchain called “Soneium”. And their plans are ambitious, as the statement reads the Sony blockchain is nothing less than “the infrastructure network that forms the basis of Web3”.
Soneium Launches as Ethereum Layer-2 Solution
Sony also plans to make the network accessible to the public, collaborate with others in the space and make Soneium “an infrastructure that everyone can use on a daily basis”.
The company highlighted that they have an interest to contribute to fostering decentralisation, as the internet has led to increased centralisation of information and economic value. Web3 has the potential to solve some of these issues but has challenges:
The current community of Web3 technology and services is limited to a few core users and there are numerous use cases that have yet to gain the traction to go mainstream with the general public. The creation of killer use cases is eagerly awaited.
Sony
Sony’s blockchain will be an Ethereum layer-2 solution which will first be launched in a testnet version. As a public blockchain and an open network, Sony will leverage “Op Stack and Superchain developed by the Optimism Foundation to create a scalable, EVM-compatible, developer-friendly blockchain”.
Sony’s Entrance a Boon for Crypto, Web3?
Jun Watanabe, Chairman of Sony Block Solutions Labs, commented on the development:
We will work to create diverse businesses and new use cases with the aim of delivering customer value that can only be enjoyed through Web3 technology to as many users as possible and making people’s lives richer and more colorful.
Jun WatanabeRelated: Tron Memecoin Frenzy Sees More Than $1 Million Funds in SunPump
Sota Watanabe, Director of Sony Block Solutions Labs, added that the company will leverage its connections in a multitude of industries, which could be a welcome boost for crypto and web3 – especially given Sony’s history of setting trends.
Only time will tell if this is a historic moment like the release of the Walkman, or the first ever PlayStation which hit markets around the world in 1994/95 and became one of the most successful video game console launches in history, selling close to 103 million units over its lifetime.
Credit: Source link
