Robert Steinadler, a month ago

Industrial applications: Fetch.ai partners with Bosch

Partnerships are usually bullish once they are made public. Blockchain projects of different categories are trying to win partners to get a chance to implement their technology into real-world products. Examples of such products and use cases are supply chain management, accounting, and tokenization of assets. Recently, one of the hottest AI coins struck a deal with a worldwide renowned brand.

Why are Bosch and Fetch.ai partnering, and what are their plans and projects shortly? 

A new Web3 Foundation

The new foundation is inspired by the design of the Linux Foundation and will have an open and decentralized three-stage governance structure. Its goal is to develop, research, and make use of Web3 tech in different fields such as industrial and consumer domains.

One important part is onboarding more partners to the new foundation that will be led by Bosch and Fetch.ai. With both at the helm of the new movement, Web3 technology is supposed to be promoted for industrial applications. 

While all of these points do sound nice, there is very little information available on what will be the next steps of the new organization. This leaves room for speculation. Perhaps Fetch and Bosch are looking to surprise the public with new and hot board members soon. According to the official statement, both are actively looking for partners.

Bosch has a history with DLT

This is not the first time that Bosch is looking into any application of distributed ledger technologies and related tech. In April 2018, Bosch filed a patent application for a digital payment system based on the DAG technology of IOTA. The company thoroughly researched the possibilities of applying these technologies in the field of IoT. Bosch also joined the Fetch.ai testnetwork in 2019 which started the partnership.

According to its statements, Bosch is a leading provider of IoT solutions such as smart homes or the so-called Industry 4.0. Artificial intelligence plays a significant role in all of these fields, and it will be interesting to watch how Bosch is going to make use of the technology behind Fetch.ai. 

This is a big chance not only for Fetch.ai but for crypto in general. Once more, a partnership between a blockchain project and a global player is exciting the market. However, it is important to keep in mind that not all of these partnerships last forever or bear fruit. Only time will tell if this is different with the Web3 Foundation both partners gave birth.

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