{"id":520424,"date":"2023-02-21T14:30:24","date_gmt":"2023-02-21T14:30:24","guid":{"rendered":"https:\/\/wncen.com\/?p=520424"},"modified":"2024-06-11T14:32:42","modified_gmt":"2024-06-11T14:32:42","slug":"fetch-ai-fet-soars-on-partnership-german-tech-giant","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/fetch-ai-fet-soars-on-partnership-german-tech-giant\/","title":{"rendered":"Fetch AI (FET) Soars 12% On Partnership With German Tech Giant"},"content":{"rendered":"
One of the leading AI crypto token projects Fetch AI and German engineering and technology giant Bosch announced a new partnership today, sending the FET price soaring by 12%. The partnership is about a new Web3 foundation, the Fetch.ai Foundation.<\/p>\n
The goal is to research, develop and harness Web3 technology for real-world use cases that will span the mobility, industrial and consumer sectors, according to a press release<\/a>.<\/p>\n While Bosch and Fetch AI will initially co-chair the foundation’s board of directors, the long-term goal is to make the foundation and its ecosystem independent by adding new participants to the board. In basic principle, the Fetch.ai Foundation is modeled on the Linux Foundation.<\/p>\n This means that the foundation will be based on the fundamental principles of transparency, openness, neutrality, and data and technology sovereignty. It will also have a three-tier governance structure to foster decentralized innovation at scale:<\/p>\n An important design goal for the foundation is to achieve technology pooling such that it can survive independent of the individual foundation participant’s engagement, […].<\/strong><\/p>\n The Foundation will optimize the degree of influence […] based on active contribution […] that can be assessed in terms of parameters such as provided liquidity, IP, code, and usage.<\/strong><\/p><\/blockquote>\n