Following a $6 million token sale on Binance Launchpad, Fetch.AI will work with German telecom giant Deutsche Telekom.
A unit of German telecom giant Deutsche Telekom will work with Binance-listed project Fetch.AI (FET) to develop decentralized IoT network innovations, according to a press release shared with Cointelegraph on May 22.
Fetch.AI, a Cambridge-based tech startup, has signed a memorandum of understanding (MoU) with Deutsche Telekom’s T-Labs to build and implement autonomous agents (AEAs) on the Fetch.AI test network in order to integrate them into Internet of Things (IoT) device communications.
The new partnership intends to find out how AEAs can be incorporated into IoT devices in order to provide them with the authority and autonomy to operate with no need for human involvement, the press release notes.
In an email to Cointelegraph, Humayun Sheikh, the CEO of Fetch.AI, noted that the partnership aims to apply machine learning and artificial intelligence integration to smart contracts.
Sheikh added that the upcoming project can enable unique search and discovery tools, and the described solutions will potentially allow AEAs to make themselves visible to each other while actively delivering a much more flexible and direct connectivity.
According to Sheikh, the concrete goals of the cooperation include creating a modular framework that allows T-Labs to deploy services using the Fetch tech and using machine learning in terms of decentralized electric scooter deployment.
Both Fetch.AI and T-Labs are members of blockchain-powered IoT consortium Trusted IoT Alliance, which reportedly includes major global tech companies such as Bosch and Siemens, according to the press release.
The partnership has followedFetch.AI’s successful token sale conducted on Binance’s Launchpad platform in February 2019. As previously reported, the project raised $6 million in a sale of more than 69 million tokens that was completed in 22 seconds.
Also in February, Deutsche Telekom, the world’s fifth largest telecoms firm, partnered with South Korea’s largest wireless carrier, SK Telecom to deliver a blockchain-enabled mobile identification solution.
Recently, Cointelegraph reported that major South Korean electronics giant Samsung plans to incorporate crypto and blockchain features to its budget smartphones, including cooperation with telecom companies to provide a blockchain-powered mobile identification cards and local currencies.
