Binance-Listed Project Fetch.AI, T-Labs Partner To Develop Decentralized IoT Network

Blockchain, News | May 28, 2019 By:

Cambridge-based tech startup Fetch.AI is collaborating with T-Labs, a unit of leading German telecom firm Deutsche Telekom, to develop decentralized Internet of Things (IoT) network innovations.

Fetch.AI, which raised $6 million in a token sale on Binance Launchpad earlier this year, claims to deliver groundbreaking economic Internet that enables emergent solutions to complex problems. It enables the deployment of complex multi-agent systems (MAS) over a decentralized network and provides tools to enable the construction of intelligent agents.

T-Labs, located in Berlin, is the research and devlopment (R&D) unit of Deutsche Telekom and is in a close partnership with the Technische Universität Berlin. The tech hub has more than 300 international experts and scientists that work together on blockchain technology, smart city concepts, artificial intelligence and new media experiences.

The two parties signed a memorandum of understanding (MoU) to build and deploy autonomous economic agents on the Fetch.AI test network. They will look at how such agents can be built into Internet of Things (IoT) devices to provide them with the authority and autonomy to organize themselves free of human intervention. They will also used blockchain in the process.

The two parties believe that autonomous economic agents, and an environment that connects them, are key foundation technologies in creating an interoperable, scalable and trusted IoT ecosystem. They also recognize the importance of decentralized computing in providing scalable solutions to the network optimization and artificial intelligence that are needed to power such a system.

“It has been a pleasure to work with T-Labs over the last year looking at how we can bring the communications network of the future to life: powering autonomous economic agents (AEAs) to bring solutions to today’s problems that will make a significant difference to all of our everyday lives,” said Toby Simpson, CTO and Co-founder of Fetch.AI. “This memorandum of understanding further reinforces our commitment to work closely and combine our expertise and experience to bring this to reality sooner than any of us had previously imagined.”

“Agent-based systems are a powerful concept for optimizing, and being optimized by, a modern data network and we’re greatly looking forward to continuing to build and deploy things that really make a difference now,” said John Calian, Senior Vice President and head of T-Labs.