• Fetch.ai and Bosch are collaborating to research and develop web3 technology through the Fetch.AI Foundation.
• The foundation will have a three-tier governance structure, and its management will be handled by both Botch and Fetch.ai.
• The announcement of the partnership has caused a 14% surge in the price of FET, the native token of Fetch.ai, over the past 24 hours.
Fetch.ai Partners with Bosch for Web3 Development
Fetch.ai protocol and electronics giant Bosch have announced a partnership leading to the formation of Fetch.AI Foundation; an organization that will research and develop Web3 technology aimed at achieving real-world use cases in various industries like mobility. The foundation will have a three-tier governance structure inspired by Linux Foundation’s decentralized innovation model, with Botch and Fetch.AI managing it for now but inviting other partners along in future for contribution to & growth from new participants too!
The foundation has been established as part of the two firms’ collaboration to create an environment ideal for fast tracking web3 adoption in electronics industry, as well as providing new business opportunities for tech entrepreneurs within their respective ecosystem going forward. It is hoped that this move will bring about more industry applications making use of Web3 technologies available soon enough!
Bullish Stance from Partnership News
The news about this partnership between Bosch and Fetch has caused quite a stir amongst crypto enthusiasts; sending the price of FET -the native token of Fetch- soaring 14% over 24 hours at press time! This adds to existing gains made due to rising popularity of AI technology (ChatGPT being one example) which was discussed in an earlier post on Cryptocurrency News; primarily due to growing admiration towards AI around world leading up today’s market situation where cryptocurrencies based on artificial intelligence are steadily gaining traction since start 2021!
Web 3 Expansion in Electronics Industry
Humayun Sheikh -founder at Fetch- had this say regarding what he hopes their collaboration with Bosch can do: “Bosch will help us fast track Web 3 adoption in industry & encourage other players join us journey; more applications coming out mean new business opportunities tech entrepreneurs already present within our ecosystem“. With that being said, one cannot help but appreciate how much potential there is when it comes integrating Web 3 technologies into electronic devices & everyday appliances that we use daily life!
In conclusion; it is clear that partnerships such as these between popular firms can go long way when it comes development & implementation cutting edge technologies like Web 3 into mainstream usage across industries; benefiting everyone involved process whether directly or indirectly! It remains seen how much impact they make moving forward however current bullish stance taken by market could signify good things come future indeed…