Deutsche telekom ventures deeper into web3: embraces bitcoin mining and beyond

Deutsche Telekom Ventures Deeper into Web3: Embraces Bitcoin Mining and Beyond

Last Updated: June 18, 2024By

Deutsche Telekom is amplifying its foray into the realm of Web3, underscored by its recent alignment as a validator on Fetch.ai’s decentralized ledger.

The telecom titan, through its subsidiary T-Mobile, has proclaimed its ambitions to delve into Bitcoin (BTC) mining, augmenting its current suite of crypto-centric endeavors. Since 2023, Deutsche Telekom has been a steadfast operator of a Bitcoin node and is actively managing nodes on the Bitcoin Lightning Network.

At the BTC Prague conference, Dirk Röder, who spearheads Web3 infrastructure and solutions at Deutsche Telekom, divulged:

“Since 2023, we are running a Bitcoin node, and we are running Bitcoin Lightning nodes as well as I like to let you in on a little secret we will engage in digital monetary photosynthesis soon.”

T-Mobile’s Web3 Integration

T-Mobile’s engagement in Web3 is not nascent; it has been a Polygon validator since June 2023. This role leverages the company’s robust infrastructure to secure new revenue streams. Deutsche Telekom is one of the 100 validators offering staking and validation services on Polygon, thereby bolstering the platform’s proof-of-stake consensus mechanism.

In a notable collaboration from February, Fetch.ai—a decentralized AI platform—joined forces with Deutsche Telekom to pioneer enterprise AI solutions. As a validator on Fetch.ai’s blockchain, the telecom conglomerate plays a pivotal role in supporting the platform’s AI-driven autonomous agents. These agents are instrumental in sectors such as healthcare, automotive, supply chain management, and digital identities, where they manage resources, facilitate transactions, and analyze traffic patterns.

Deutsche Telekom’s ventures illustrate a burgeoning commitment to integrating cutting-edge blockchain and AI technologies, heralding a transformative epoch in digital infrastructure and services.

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About the Author: Eunji Lim

Eunji lim

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