Deutsche Telekom's T-Labs teams up with Fetch.AI to develop decentralized IoT network

T-Labs, a unit of leading German telecom firm Deutsche Telekom, has partnered with Binance-listed project Fetch.AI to create decentralized Internet of Things (IoT) network innovations.

Based on the signed memorandum of understanding (MoU), the collaboration will help both companies implement autonomous economic agents (AEAs) using the Fetch.AI network in order to incorporate them into IoT devices. Both blockchain and IoT will be used in the process.

According to the press release, one of the goals of the partnership is to determine how these AEAs can be used and integrated into IoT devices to make them more autonomous, operating free of human interventions. T-Labs and Fetch.AI said they want to “remove the roadblocks [to] a seamless machine-to-machine (M2M) economy.”

“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,” John Calian, Senior Vice President and Head of T-Labs, said in a press release.

According to Cointelegraph, the new partnership will also use machine learning and artificial intelligence integration to smart contracts to allow unique discoveries and use new tools that were never used before. This way, AEAs are not only visible to each other but also actively deliver a more flexible and direct connection.

“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,” Toby Simpson, CTO and Co-founder of Fetch.AI, said.

Recently, Binance CEO and founder sought damages from Sequoia Capital China. Changpeng Zhao, or better known as CZ, claimed the venture capital firm hurt his reputation and unjustly prevented him from raising funds during its now-dismissed legal suit against him.