Artificial Intelligence Research Lab Fetch.ai Partners with Blockchain Network just To enable a “controlled data sharing environment” for connected devices, setting the stage for a massive leap forward internet of things, or IoT, capabilities.
The partnership, which was announced on Wednesday, will allow sectors such as mobility, supply chain logistics, finance, healthcare, energy and others to use automated data sharing over IoT networks. IOTA’s native Tangle technology will help facilitate secure payments and communication between devices.
Fetch.aI CEO Humayun Shaikh said, “While there are many partnerships focused on data privacy, it adds a layer of economic benefits for stakeholders through autonomous economic agents without compromising on data privacy.”
“Enabling these agents to perform “useful economic functions” on behalf of individuals, businesses, companies and other entities or organizations will accelerate the adoption of Fetch.ai Autonomous Economic Agents and IOTA streams, giving them sophistication across industries. will allow to communicate mobility, supply chain, IoT and much more.”
The research lab tells Cointelegraph that the IOTA partnership will open up many tangible use cases for artificial intelligence and data sharing, such as “collaborative public governance,” where autonomous economic agents simplify the public administration process. The new partnership will also enable “smart urban planning” by evaluating data streams, breaking down data silos, and offering real-time solutions to urban populations.
“Pandemic management”, where autonomous economic agents provide real-time information on hotspots and community spread, is also a relevant use case in the light of COVID-19.
IOTA was considered one of the most promising cryptocurrency projects during the 2017 bull run. Although it has received a lot of attention in the past few years, as evidenced by the sharp drop in the market ranking of the MIOTA token, the project is gaining traction after following. Launch of Nectar DevNet earlier this month. As Cointelegraph reported, DevNet 2.0 sets the stage for a fully decentralized Tangle network.