Deutsche Telekom employs over 200,000 people and has a market capitalization of $80 billion.
T-Systems’ announcement calls this arrangement “generalized mining”:
“By providing real-world data to the Chainlink network, T-Systems MMS engages in a so-called ‘generalized mining’, where it provides an IT service to a blockchain network while getting paid in digital assets for reliably doing so. As there is a significant value locked in DeFi, such IT services play an important role in the overall Ethereum ecosystem.”
T-Systems is in the business of digital transformations of large corporations and medium-sized companies. The company employs more than 2,000 people and had a turnover of 176 million euros in 2019.
Gleb Dudka, Analyst at T-Systems MMS says that the company believes it is responsible for supporting public network infrastructure:
“You could even say duty as a telecom company to be a public blockchain network infrastructure provider.”
Initially, T-Systems will be just a node operator, although telecom-specific use cases for blockchain tech such as roaming settlement are also being considered.