“The fundamental goal of this collaboration is to enable granular control over data and to reduce the reliance on centralized systems that take advantage of data,” said Humayun Sheikh, CEO of Fetch.ai.
Artificial intelligence research lab Fetch.ai has partnered with blockchain network Iota to enable a “controlled data sharing environment” for connected devices, setting the stage for a broad leap in Internet of Things (IoT) capabilities.
The partnership, which was announced Wednesday, will allow sectors such as mobility, supply chain logistics, finance, healthcare, energy and others to utilize automated data sharing across IoT networks. Iota’s native Tangle technology will help facilitate secure payments and communications between devices.
“While there are numerous partnerships focusing on data privacy, this one adds the layer of economic benefit for stakeholders via autonomous economic agents without compromising data privacy,” said Fetch.ai CEO Humayun Sheikh, adding: “Enabling these agents to perform ‘useful economic work’ on behalf of individuals, businesses, companies, and other entities or organizations will speed up the adoption of Fetch.ai autonomous economic agents and IOTA Streams thereby allowing them to communicate with sophistication across industries like mobility, supply chain, IoT and more.”