Bosch Group, the international technology supplier, is teaming up with Fetch.ai to initiate a multi-purpose blockchain network for further advancement in Web 3.0 capabilities like artificial intelligence. It seeks to bring distributed ledger technology to some industries as the network is in testnet until the end of February.
Bosch Group Teams up With Fetch.ai
The global technology supplier Bosch and an artificial intelligence lab, Fetch.ai, are cooperating to utilize blockchain technology for practical applications. They are focussing on developing machine learning applications in particular for serving a purpose in blockchain governance.
Fetch.ai started the testnet program in October 2020 along with Bosch Research’s Economy of Things team coming up to its development. The participation of the technology supplier will be continued after the mainnet launch in the month of March.
Jonathan Ward, the CTO of Fetch.ai, revealed that he and his company is working with Bosch for quite some time now, and additionally highlighting the developing nature of their partnership based on research.
In the description of his project, he addressed the project as a first public step in conducting open and fair digital ecosystems in the digital world along with transparency. Mentioning his company’s relationship with Bosch, he said:
“We’re looking forward to working further with Bosch to bring about the wide adoption of these ground-breaking innovations, which will hugely benefit consumers and businesses in many industries including automotive, manufacturing, and healthcare.”
Dr. Alexander Poddey, a lead researcher on the Economy of Things project added to Jonathan Ward’s statement and said:
“Our collaboration with Fetch.ai spans from the aspects governance and orchestration of DLT based ecosystems, multi-agent technologies to collective learning.”
Blockchain: A Fundamental Infrastructure Innovation
In recent times, Bosch has managed to release several advancing pieces of content on the socioeconomic benefits of Blockchain technology.
Over the past two years, Fetch.ai has managed to place itself at the center of various high-profile partnerships. Also, in May 2019, it collaborated with Deutsche Telekom to work on a decentralized IoT network.