Latest Crypto Experiment Polkadot Is Telekom

Latest crypto experiment polkadot is telekom. Deutsche Telekom AG, Europe’s largest telecommunications operator. Has thrown its support behind Polkadot, an interoperable framework. Of public blockchains established by Ethereum co-founder Gavin Wood and others.

T-Systems Multimedia Solutions (MMS), a subsidiary of Deutsche Telekom that specializes in digital innovation. Is no slouch when it comes to supporting blockchain technology.

It has already invested heavily in the field, providing infrastructure support. (As well as participation in). The proof-of-stake (PoS) consensus mechanisms of blockchain oracle service Chainlink. NFT pioneers Dapper Labs’ Flow, and Celo, a mobile-first payment network, to name a few.

German telecommunications company T-Systems is taking a step further by investing in Polkadot. The company has purchased a “significant” amount of Polkadot’s native cryptocurrency. DOT, to stake on its own behalf, which has necessitated the integration of a crypto business function. Into the company’s existing accounting software.

Polkadot will be Deutsche Telekom’s fourth blockchain

Even though Polkadot will be the fourth blockchain with. Which Deutsche Telekom will be collaborating. It is the first network that T-Systems has evaluated for running infrastructure. And it has been on the company’s radar since its inception, according to Andreas Dittrich. The company’s Blockchain Solutions Center director. Dittrich noted that T-Systems will be running many validators for the Polkadot network. Both private and public, as a result of this arrangement.

We are investing in DOT tokens in the same way that we did with Celo in the past. So that we can be a part of the network’s governance and, in a nutshell. Put our money where our mouth is to support our infrastructure case, according to Dittrich. In an interview with CoinDesk. “The most significant difference now is that we are not using a VC or innovation budget. Instead, we are using funds from our business unit to fund this.” As a result, this has truly become a business case for us. “I have to say, I’m quite proud of the fact that we’re doing this.”

However, despite the fact that T-Systems had to wait more than a year or two. Before Polkadot was up and running, the timing of this bold move could not be more perfect. The network’s first “parachains” went live over the weekend and the latest crypto experiment .

Focus is now on decentralized finance (DeFi), stablecoins, and Ethereum

BONN, GERMANY – MARCH 09: The logo of the German telecoms provider Deutsche Telekom is pictured at twilight at the company’s headquarters on March 09, 2010 in Bonn, Germany. (Photo by Kirsten Neumann/Getty Images)

Polkadot is currently concentrating its efforts on decentralized finance (DeFi) apps, stablecoins. And Ethereum-compatibility protocols. All of which are anchored to the “layer 0′′ network that is Polkadot.

T-Systems’ Dittrich cited the early days of business blockchain, when Deutsche Telekom. Became a member of the Linux-affiliated Hyperledger stable of permissioned ledgers. As an example of a use case that the company could potentially identify and latest crypto experiment.

According to Dittrich, “I think the prospects that Polkadot gives for enterprise. Use cases are particularly exciting.” “It provides the flexibility and security of a public. Permissionless blockchain, but it also provides a separation of concerns through the usage of parachains. As well as interoperability across different use cases,” says the author. In that case, even the traditional supply-chain use case may make a lot of sense on Polkadot. And I know that large industry consortia are definitely keeping an eye. On that environment,” says the author.

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