IOTA Foundation And Fetch.ai Collaboration
The platform that is building an open access, tokenized, decentralized machine learning network to enable smart infrastructure built around a decentralized digital economy, Fetch.ai is now an official partner of IOTA Foundation to offer autonomous economic agents (AEA) on the Tangle.
Autonomous economic agents are a set of rules that can act without constant interference from their owner. The goal of an AEA is to generate economic value for its owner or initiator. While AEAs are no general artificial intelligence, APIs, or smart contracts, they instead follow narrow rules in an autonomous way without the need of constant instructions. AEAs are powered by the $FET token and can be built and deployed via open source tools provided by Fetch.ai, allowing anyone to create an autonomous agent on their blockchain and, in the future, on the Tangle.
IOTA makes for an excellent companion for our automated agents due to the lack of required fees for generating and posting data transactions, as well as the bandwidth available for data generation. In most DLTs there is an associated cost with sending and verifying data that is often passed down to the user end, and traditional blockchains have inherent limitations to the amount of data that can be distributed and verified in a given time period. IOTA is more scalable and does not require the fees as a barrier to entry, allowing for smaller message payloads to be sent more frequently rather than bulk loading the data. This means that agents can deploy, publish and read data of any arbitrary size at any time without incurring additional costs.”—Humayun Sheikh, CEO of Fetch.ai
Publishers and readers will be able to easily verify the source of data being interacted with, as well as manage access policies for that data via the autonomous agents interfacing with one another. This can be used to generate complex engines of interconnected agents operating in conjunction with one another with a foundation of verifiable distributed data, anchored securely to the Tangle.
“We are enabling data producers to take control over who can access the data they produce whether from a mobile device, environment IoT sensor, connected vehicle, Industrial IoT solution and a host of IOT focused use cases. With this partnership, we hope both the Fetch and IOTA communities expand the functionally of what devices can do autonomously on distributed networks.”—Holger Koether, Director of Partner Management at the IOTA Foundation
Fetch.ai technology has the potential to revolutionize a multitude of industries, improving efficiency through optimization of existing systems. Enhancing and optimizing solutions to everyday problems through intelligent data sharing, machine learning and AI.
ABOUT IOTA
IOTA is the first distributed ledger built for the “Internet of Everything” – a network for exchanging value and data between humans and machines.
ABOUT Fetch.ai
Fetch.ai is building an open access, tokenized, decentralized machine learning network to enable smart infrastructure built around a decentralized digital economy.
