Bosch Group, the global technology supplier, is collaborating with Fetch.ai to launch a multi-purpose blockchain network (v2.0 main-net) that can further advance Web 3.0 capabilities like artificial intelligence and the Internet of Things.
The broader objective of this collaboration is to transform existing digital ecosystems. Bosch is interested in the practical issues that surround running applications on a blockchain and is working with Fetch.ai to overcome these for real-world deployments of the technology.
The global engineering giant will test key features of Fetch.ai’s testnet until the end of this month and will deploy a node on the network. The company aims to transform existing digital ecosystems using distributed ledger technologies (DLT) like blockchain.
The strategic engineering project between Fetch.ai and Bosch is called the Economy of Things (EoT).
“Our collaboration with Fetch.ai spans from the aspects of governance and orchestration of DLT based ecosystems, multi-agent technologies to collective learning,” says Dr. Alexander Poddey, the leading researcher for digital socio-economy, cryptology, and artificial intelligence in the EoT project.
“They share our belief that these elements are crucial to realizing the economic, social and environmental benefits of IoT technologies.”
Cambridge-based Fetch.ai is working on decentralised autonomous “agents” which perform real-world tasks. It is also committed to ensuring that artificial intelligence (AI) makes its way into blockchains.
The Fetch.ai test-net program began in October 2020.
The EoT team at Bosch Research will deploy a node on the network and assist in testing the first phase of Fetch.ai’s next-generation blockchain with a view to running nodes and applications on the v2.0 main-net after it is launched in March 2021.
“We have been working with Bosch for some time towards our shared vision of building open, fair and transparent digital ecosystems. I’m delighted to be able to announce the first public step in bringing these technologies into the real world,” Jonathan Ward, CTO of Fetch.ai 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.”
Fetch.ai is an AI/blockchain startup founded by early DeepMind investor Humayun Sheikh.
It is also building a decentralized machine learning platform based on a distributed ledger, that enables secure sharing, connection and transactions based on any data globally.
Fetch.ai’s network is based around an open-source technology that any user can run to connect to the network, giving access to the power of AI on a world-scale secure dataset, to carry out complex coordination tasks in the modern economy.