Fetch.AI And Bosch Collaborate To Drive Web3 Adoption

Join Our Telegram channel to stay up to date on breaking news coverage

  • What – Fetch.AI and Bosch have announced plans to invest $100 million in the next three years to drive the adoption of Web3 technologies.
  • Why – Fetch.AI is a decentralized infrastructure provider for Web3, while Bosch is a multinational engineering and technology company.
  • What Next – The duo plans to accelerate the adoption of Web3 technologies in the industrial and consumer sectors.

Fetch.AI And Bosch To Power Web3 Adoption

The idea is to drive the adoption of web3 technology, AI, and software agent in several industries. From the announcement, the foundation aims to use Fetch.AI technology to enhance its existing network and provide new Web3-based services to its customers.

The collaboration will create new business opportunities in the automotive, manufacturing, logistics, and supply chain industries. In addition, the partnership will enable Bosch to leverage Fetch.AI’s expertise in decentralized identity, supply chain automation, and machine learning.

Fetch.AI’s CEO, Humayun Sheikh, noted that the team would focus on investing at least $100 million in the AI industry in the next three years. They plan to achieve this through several popular programs, which will contribute to the growth of the industry and other businesses growth. He further beckoned on like-minded industrial players to participate in the foundation, noting that such a move would promote the development of the AI-driven P2P tech stack.

As per the approach, Bosch teams and Fetch.AI will anchor the foundation’s board at launch. The main focus here is to gradually develop a strategy to attract more participants, such as businesses interested in developing an AI-based decentralized digital economy.

Peter Busch, Fetch.AI Foundation’s Chairperson, expressed his thoughts about the approach. According to him, integrating proven standard hardware with disrupting technologies, including software capabilities, will attract more participants to the foundation.

The Previous Partnership in 2021

Meanwhile, this is not the first instance of a partnership between both parties. In 2021, Bosch collaborated with Fetch.AI to transform the digital ecosystem in operation. The parties pioneered this move through DLTs (Distributed Ledger Technologies).

The partnership leveraged Fetch.AI’s decentralized technology to create a secure, trustworthy, and scalable digital infrastructure for the ecosystem. Also, the strategic engineering project of both parties, known as the EoT (Economy of Things), was designed to enable secure, decentralized data sharing and coordination between machines, devices, and services.

Meanwhile, Bosch has been actively exploring the potential of blockchain and distributed ledger technology (DLT) for various use cases in its business operations. These partnerships with Fetch.AI are part of Bosch’s strategic focus on developing innovative solutions for the Industrial Internet of Things (IoT).

Fetch.AI and Bosch collaboration in 2021 involved joint research and development efforts to create scalable and robust decentralized solutions for the digital ecosystem. The partnership was also expected to develop new use cases for AEAs in different domains, such as logistics, supply chain management, and mobility. The duos have been research and development partners to date.

Fight Out (FGHT) - Newest Move to Earn Project

Rating

Fight Out token
  • CertiK audited & CoinSniper KYC Verified
  • Early Stage Presale Live Now
  • Earn Free Crypto & Meet Fitness Goals
  • LBank Labs Project
  • Partnered with Transak, Block Media
  • Staking Rewards & Bonuses
Fight Out token
Learn More

Join Our Telegram channel to stay up to date on breaking news coverage

Comments

Post a Comment

Popular posts from this blog

XRP Futures Open Interest Surpass $1.1 Billion in 24 Hours

Image
XRP made notable strides in the crypto market, leading to substantial gains. Within the last 24 hours, open interest on futures contracts linked to XRP exceeded $1.1 billion. This achievement marked another milestone, surpassing the $1 billion mark set the previous week and establishing a new record high for the year. Open interest is the number of unsettled futures contracts. This has experienced a 21% increase since earlier this week. Among these positions, the largest share of about $459 million is held on the crypto exchange Binance. Bybit was next in line at $304 million and Bitget followed suit with $263 million. Source A higher open interest indicates a surge in investments or bets on various assets. This signifies the influx of new funds into the financial market. Typically, this suggested an expectation for the current trend to persist. In parallel, the price of XRP experienced an astonishing surge of 67.42% in the past few days. At press time, the altcoin was trad...
Read more

Analyst Predicts Trends Using Whales’ Onchain Borrowing Data

Traders can tell when whales go long by monitoring the Aave/Compound stablecoin borrowing pattern, according to The Data Nerd, an onchain data analyst. According to the analyst, four whales have used this strategy in the last 24 hours. Quick tip: Monitoring Aave/Compound stablecoin borrow can tell you when whales go long. We have created a @DuneAnalytics dashboard for you to easily follow this behavior. So far we have noticed 4 whales using this strategy since yesterday pic.twitter.com/RTwZ8LyWCL — The Data Nerd (@OnchainDataNerd) April 23, 2023 In a Twitter thread, The Data Nerd explained that similar to using margin or leverage on centralized exchanges (CEX), whales would go long by borrowing stablecoin using Aave or CompoundFinance. They would follow this up by using the amount to buy assets on decentralized exchanges (DEX) or to deposit to CEX. They repeat the cycle and use it as a profitable system in the cryptocurrency market. By monitoring the action of w...
Read more

US prosecutors outline jury instructions for SBF’s trial

US prosecutors have submitted their proposed instructions to the jury for the upcoming trial of FTX co-founder Sam Bankman-Fried, set to begin in October. The detailed 100-page filing, dated Aug. 21, outlines how the prosecutors wish Judge Lewis Kaplan to guide the jury in Bankman-Fried’s case. The instructions are based on previous guidance the New York district judge has provided in other cases. Bankman-Fried faces seven charges, including fraud, money laundering conspiracy, wire fraud, commodities fraud, and securities fraud. The filing breaks down each charge, suggesting how Judge Kaplan should present the allegations, the burden of proof required for a guilty verdict, and the evidence related to each charge. The document also includes proposed guidelines for how the jury should assess the evidence, deliberate, and conclude each count. While such proposals are standard in criminal trial s, the final decision on jury instructions rests with Judge Kaplan. The former FTX c...
Read more