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Deutsche Telekom’s subsidiary, MMS, will serve as a validator of Fetch.ai’s decentralised blockchain
This week, Deutsche Telekom has joined the Fetch.ai Foundation as the organisations first corporate partner.
The Fetch.ai Foundation, a non-profit founded by Fetch.ai and Bosch, is dedicated to creating an open platform to explore the interplay of AI, blockchain, and other Web3 technologies.
The central premise here is the use of AI-controlled autonomous agents that can coordinate resources, evaluate data, and, crucially, make automated payments (using decentralised currency) on behalf of the customer. These autonomous AI agents have a myriad of potential uses, from smart washing machines that detect when they are out of detergent and automatically order more, to connected electric vehicles that can locate and negotiate prices at nearby charging points.
Fetch.ai says this approach can have a myriad of potential use cases, with the company already offering services in sectors including healthcare, automotive, supply chain management, and digital identity.
Ultimately, the company’s vision is to help enable an Economy of Things, where broadly independent devices and services are being purchased and sold by autonomous AI agents on behalf of their owners.
But with the AI agents pulling data from numerous sources, as well as potentially handling consumers financial details, how can security be assured?
This is where Deutsche Telekom comes in, with the company’s subsidiary, Telekom MMS, serving a validator for Fetch.ai’s blockchain, ensuring network security as devices, individuals, and services are integrated. This blockchain serves to store and secure the large amounts of data that the AI rely on to make autonomous decisions.
“The collaboration between Telekom, Fetch.ai and Bosch is groundbreaking and combines industrial applications with the Internet of Things. Autonomous agents will automate industrial services, simplify processes and make them secure and scalable thanks to blockchain technology,” says Dirk Röder, head of the Web3 Infrastructure & Solutions Team at Telekom MMS.
“This partnership is a significant milestone for Fetch.ai. Through research, development and practical application of agents, AI and decentralized Web3 technologies, real-world use cases can be integrated that improve the existing network,” said Humayun Sheikh, Managing Director of Fetch.ai.
Deutsche Telekom has been a growing supporter of Web3 technologies – especially blockchain – for a number of years now. According to Röder, the company already supports eight blockchain networks with over 200 validators.
“Currently, over 60 million euros of assets from Chainlink, Ethereum, Celo, Q, Flow, Polkadot, Polygon and Energy Web are on our infrastructure,” he explained in a company blog post.
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