Last year German industrial company Bosch and Fetch.AI formed the Fetch.AI Foundation. The web3 startup has a concept of Autonomous Economic Agents (AEA), which are sensor-driven devices that are both self-learning and capable of automatically transacting. Now Deutsche Telekom MMS has joined the foundation as its first corporate member. The telecoms firm also becomes a validator on the blockchain network.

Fetch.ai autonomous agents are being used in the Economy of Things, which combines web3, IoT and smart devices for industrial applications. Use cases include healthcare, automotive, supply chain management and digital identities. One mobility example is an autonomous car deciding on the best parking space.

“The collaboration between Deutsche Telekom, Fetch.ai and Bosch is groundbreaking and combines industrial applications with the Internet of Things,” said Dirk Röder, Head of the Web3 Infrastructure & Solutions Team at Deutsche Telekom MMS. “Autonomous agents will automate industrial services, simplify processes and make them secure and scalable thanks to blockchain technology.”  

Since 2019 Deutsche Telekom has been a node operator, validator and staking provider for numerous public blockchains. Its first initiative was to join the governing council of the Hedera Hashgraph DLT in 2019. Since then it has operated nodes on Chainlink, Flow, Celo, Ethereum, Q network, Polygon and the Graph.