A joint research project on real-time very long baseline interferometry (VLBI) called GALAXY is being conducted by NTT Laboratories, the Communications Research Laboratory, the National Astronomical Observatory, Yamaguchi University, and the Institute of Space and Aeronautical Science to explore the effectiveness of ultrahigh-speed communications technologies when applied to advanced scientific research. VLBI is a very precise measurement tool for radio astronomy and earth science based on cross-correlating observed radio signals received at a number of antennas located far apart. Using an ultrahigh-speed network allows us to raise the bandwidth of the radio signals used for the cross-correlation, so the performance of the observation system can be greatly improved. This paper outlines the project and presents recent developments in our research activities focusing on new networking technologies utilizing the Internet protocol.