Deutsche Telekom has joined forces with Bosch and Fetch.ai, a Web3 platform for the new AI economy, focused on providing automated services with blockchain technology. The German tech company has announced that it will act as a validator for Fetch.ai’s decentralized blockchain through its Web3 division.
In a thread on X, Fetch.ai explains that the Fetch Foundation was created between Fetch.ai and Bosch to promote next-generation AI and Web3 technologies on the Fetch.ai network. “With Telekom’s partnership, we can combine industrial applications with IoT to provide more practical use cases,” it says. The partnership will allow Telekom to participate alongside Fetch.ai and Bosch in one of Europe’s most important IoT + AI hackathons: the “Bosch ConnectedExperience,” taking place on February 28 and 29.
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Deutsche Telekom states that the Fetch.ai Foundation promotes cutting-edge Web3 and AI technologies on the Fetch.ai network. The goal is to promote an open and accessible platform for a wide user base. The Fetch.ai Foundation was founded by Bosch and Fetch.ai in the Netherlands.
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The telecom company asserts that it holds a key position as a validator, ensuring network security during the integration of devices, individuals, and services into the blockchain. The core of this technology is based on AI-driven autonomous agents that manage resources, conduct transactions, and analyze traffic flows. Currently, Fetch.ai’s services are applied in healthcare, automotive, supply chain management, and digital identities.
Industry Transformation
The German company maintains that the convergence of blockchain and AI is leading a significant change driving industry transformation.
“Blockchain technology ensures secure and transparent data storage and transmission, enhancing AI capabilities by providing access to reliable data sets. AI can leverage blockchain to analyze transactions and make informed decisions. Web3 enables these technologies to build a decentralized internet, providing users with greater privacy and control,” Deutsche Telekom indicates.