Bosch Group, the German-based multinational engineering and technology company, is teaming up with Fetch.ai to launch a multi-purpose blockchain network that can further advance Web 3.0 capabilities like artificial intelligence (AI) and the Internet of Things (IoT).
It has been reported that the blockchain network, which is in testnet until the end of February, seeks to bring distributed ledger technology to several industries. The network is developing machine learning applications for blockchain governance, which can be applied to various use-cases.
However, the testnet program was launched by Fetch.ai in October 2020, with Bosch Research’s “Economy of Things” team contributing to its development.
The report said that Bosch’s participation will continue after the mainnet launch in March by running a node on the Fetch.ai network.
Jonathan Ward, the CTO of Fetch.ai, said that his company has been working with Bosch for “some time,” highlighting the evolving nature of the research partnership. He described the project as a first public step in bringing “open, fair and transparent digital ecosystems” into the real world.
“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, said:
“Our collaboration with Fetch.ai spans from the aspects governance and orchestration of DLT based ecosystems, multi-agent technologies to collective learning.”
Likewise, Bosch has released several forward-facing content pieces on the socioeconomic benefits of blockchain technology. The company’s Chain Reaction series cited blockchain as a “fundamental infrastructure innovation” and a “key component of society in the future.”
Thus, Fetch.ai has been at the center of several high-profile partnerships over the past two years.