Blockchain technology has been making a foray into the Internet of Things (IoT) space. In the latest use case, Deutsche Telekom, a German Telecommunications giant, and Fetch.AI, a tech platform based in Cambridge, have entered into a partnership to develop an IoT system for telecommunications use-case.
The two partners have already put pen on paper on a memorandum of understanding (MoU) that will enable the Deutsche Telekom’s T-Labs to source the skills for designing an autonomous economic agents (AEAs) system.
The deal also allows the technical wing of the German firm to implement its new AEA platform when complete on the Fetch.AI test network. Later, when the trial is successful, the network will be deployed on the Internet of Things (IoT)-connected devices.
Proving The Concept
At this point, the project that Deutsche Telekom is planning to roll is in its conceptualization phase. Hence, a part of the deal aims to explore and create a model of incorporating AEAs to IoT devices. This phase will also fundamentally focus on whether the IoT systems can be created and designed in a way that eliminates the need for human intervention to create a system that has full authority as well as complete autonomy.
The proof of concept stage is of central importance as it will enable Deutsche Telekom to do a cost-benefit analysis of the project ahead of development and subsequent deployment.
Fetch.AI Will Create A Hybrid Platform For Deutsche Telekom
The CEO of Fetch.AI, Humayun Sheikh while responding to Cointelegraph’s queries reveals that the Blockchain-based tech startup would proffer smart contracts features in the project development. Further, Fetch.AI would integrate artificial intelligence (AI) and machine learning technologies on smart contracts.
This hybrid strategy would enable the AEAs IoT system to not only be autonomous and authoritative but also secure and efficient.
This is due to the fact that machine learning technology enables platforms to use statistical inferences to study on-platform behaviors and program systems in a way that optimizes users’ experience. Secondly, AI enables platforms to perform human tasks such as voice recognition, face recognition, reading, etc. Lastly, IoT facilitates the connectivity of devices to perform tasks over the internet.
The integration of the three technologies on a Blockchain infrastructure from Fetch.AI could create an advanced platform that could revolutionize Deutsche Telekom services. Hence, Sheikh says that the project will allow AEAs to communicate with each other to deliver versatile connectivity.
The Partners Are Members Of The Trusted IoT Alliance
T-Labs and Fetch.AI are members of Trusted IoT Alliance-a Blockchain-centered IoT consortium. Other group members also include leading tech firms such as Siemens and Bosch.
Fetch.AI Token Yet To React To The News
FET, the native Token of Fetch.AI is yet to respond to the news by being bullish. FET is listed on Binance and trades at $0.169114. Its market cap is $13,789,909 that ranks 248 out of the more than 2, 500 Digital Tokens on Coinmarketcap.
Fetch.AI ICO was offered on Binance Launchpad in February this year. In the Token sale of 69 million FET, $6 million was raised in 22 seconds.