Partnership Of Bosch With Crypto Protocol Fetch.AI
Whenever two giants combined they always form the best version of anything just like this electronic giant Bosch and the artificial intelligence-focused crypto protocol Fetch.ai both are combining to create a foundation that will be called Fetch.ai Foundation.
Crypto is a platform where you can exchange your cryptocurrencies which are available on the website (above 100) without losing any of your private keys. It offers cryptocurrency rewards credit cards and staking. Its customer line is more than millions.
Bosch group is mainly the leading global supplier of technology and services. The main aim of this company is to form solutions that can be designed to ease and enhance the daily life of people. Bosch brings together comprehensive expertise in vehicle technology with hardware, software, and services to offer complete mobility solutions.
Bosch and Fetch.ai are now announcing their new development or the partnership between them to develop a new Web3 foundation. Fetch.ai’s foundation will make its ground in the core heart of transparency, openness, neutrality, and data and technology sovereignty.
This foundation i.e Fetch.ai has its own work of doing the research and developing the third generation of the internet which will be powered by blockchain, this third generation will be called as Web3. this technology is basically for real-world use and it can be used in different areas such as mobility, industry, and consumers.
Development of this foundation will form the three-tier governance structure and mainly they are inspired by the Linux Foundation’s decentralized model.
The main important goal behind the formation of this foundation is to achieve technology pooling such that it can survive independent of individual foundation participants’ engagement.
Both the bodies Bosch and fetch.ai will manage the foundation’s management board and will help to expand the foundation with other unnamed industry participants so that they can also expand.
Fetch.ai CEO or founder named as Humayun Sheikh once told in a prepared statement:
‘’Bosch will help us fast track Web3 adoption in the industry and encourage other industry players to join us in this journey’’.
‘’more industry applications will also bring new business opportunities for existing tech entrepreneurs in the Fetch.ai ecosystem’’.
The founder o Fetch.ai was very positive about this foundation and he thought that Bosch and other industrial applications will help its foundation to expand or grow further.
The main motto behind the development of this foundation was to encourage the contribution of new participants and participants’ growth by enhancing the technical applications which are being used nowadays which are based on active contributions and the participation of its members.
The data which is given on CoinGecko shows that the Fetch.ai token jumped 12% to nearly 5 cents in past 24 hours. CoinGecko is basically the live crypto chart or the world’s largest independent source of reliable cryptocurrency data and most of the time is cited across the industry by various publications.
The development of the Fetch.ai foundation gives more favor to artificial intelligence-focused cryptocurrencies among the people like traders and investors.
The formation of this third tier of governance was to gain hundreds of technologies and also to encourage contributions from new participants and provide more business opportunities in the world of Fetch.ai.