Thread by @KryptoInsider1

Bosch and Fetch.ai have recently joined forces to create the new Fetch.ai Foundation. Here is what you need to know: 🔽🧵

$FET #FET @HMsheikh4 @pbusch42 @Fetch_ai @BoschGlobal @CryptoWizardd @gaiax_aisbl @moveID_gaiax $Ocean

1⃣ What is the new Fetch.ai Foundation?
The Foundation is dedicated to advancing Web3 technology for practical applications across a variety of industries like mobility, industrial, and consumer domains.

It will embrace an innovative decentralized model akin to that cultivated by Linux Foundation with a three-tiered governance structure at its core.

2⃣What is the Foundation's mission?
The foundation strives to bolster collective growth and contributions from fresh perspectives while amplifying the application of technical solutions that are crafted through active engagement opportunities.

It wants to bring together technology partners from other esteemed institutions, who will ultimately come together to form an expansive Council for said organization.

The foundation will provide an open-source platform dedicated to advancing autonomous economic activity through collaborative research in decentralized technologies.

3⃣ Who is Bosch?
Bosch is a leader on the global stage, providing technology and services across four distinct business sectors. Looking towards the future of IoT , Bosch offers solutions that empower smart homes, Industry 4.0 advancements and connected mobility initiatives alike

Its strategic goal seeks to promote connected living through AI enabled products, services, and solutions. As part of this effort, Bosch has invested in the powerful $FET Web3 technology stack as an accelerator for its objectives.

4⃣ Use Cases
Peter Busch from Bosch emphasized that the ultimate goal is to implement new use cases and push forward the process of digitalization with decentralized technologies. He has described the following two example use cases:

✅ Cars intelligently choosing services that are both cost-effective and environmentally friendly based on real-time and historical data analysis from itself and other sources, with the goal of making the optimal selection.

✅ Traffic participants getting incentivized to improve their machine learning models by utilizing learned scenarios, which are then shared with others to promote further improvement.

5⃣ When did $FET and Bosch become partners?
In 2019, Bosch joined forces with Fetch.AI to test an open platform for mobility, smart homes and industry 4.0 solutions; a partnership which has flourished since 2021 when both entered into R&D activities together.

Now they have taken this collaboration one step further by creating The Fetch AI Foundation – designed to conduct research into Web3 technologies so that each sector can benefit from their application of these advanced techniques in the future.

Both are also working together to build the decentralized european digital identity infrastructure for mobility within @moveID_gaiax , jointly with @oceanprotocol, @deltaDAO, @peaqnetwork , @51nodes @wobcom and others!

6⃣ More information
Besides this collaboration, both parties are also members of the open data ecosystem called 'Catena-X'.

If you're interested in learning more about @CATENAX_AutoNet and the role that $FET and $Ocean play in it, I would recommend this thread to you.

https://twitter.com/KryptoInsider1/status/1605210142139682820?s=20

7⃣ Conclusion
Fetch.ai is entering a thrilling chapter of its journey as it works with Bosch to leverage Web3 technology and facilitate industry applications, driving forward the adoption of this new tech across businesses.

Bosch and fetch.ai join forces as the initial chairs of a Foundation that has one goal in sight: to bring together technology partners from other esteemed institutions, who will ultimately come together to form an expansive Council for said organization.

By uniting the cutting-edge of Web3, AI and open source technology with established software and hardware capabilities from traditional engineering companies, this emerging network is proving that collaboration creates real value🔥.

That's a wrap!

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