UK-based blockchain company Fetch.AI has announced that it has joined the Trusted IoT Alliance (TIoTA) to collaborate with major players in the blockchain and artificial intelligence (AI) industry. This move came merely a couple of weeks before its scheduled initial coin offering (ICO).
Fetch.AI brings blockchain and AI together to develop a product that automatically looks for solutions to problems those companies face, particularly with regard to transporting goods, to speed up services. The company said it would target its solution to the transport, energy, and supply chain industries.
The company’s CEO Humayun Sheikh is considering this alliance a major step for the company and said: “The Trusted IoT Alliance plays an important role in fostering collaboration between innovators that are building Web 3.0 and the major corporations that are so crucial for bringing these new models into production.”
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“Our scalable Smart Ledger offers the ideal infrastructure for high-frequency IoT use cases where agents can automate key aspects of mobility, supply-chains, energy, and healthcare.”
Upcoming Token Launch
Fetch.AI has already announced its upcoming token launch on February 25. The company has chosen Binance’s Launchpad to facilitate the sale. However, none of the companies shared the details of the token offering so far.
The startup’s entry into the TIoTA will act as a major boost to attract investors to the project as the company will share the development platform with players like Bosch, Telekom Innovation Laboratories, Cisco, and Gemalto.
“Our alliance brings together the key players to drive forward a secure, interoperable and standardized infrastructure for the IoT. We wholeheartedly welcome innovative start-ups like Fetch.AI. We’re particularly excited about the role autonomous agents will play, they have the potential to ‘bring the IoT to life’ offering entirely new ways to create value for companies and consumers. Fetch offers the world what it’s been missing – an intelligent infrastructure to make this possible,” said Zaki Manian, executive director at TIoTA.