Fetch.ai is a blockchain-based artificial intelligence (AI) company that is building an ecosystem to allow digital agents to autonomously interact with the physical world. The company has been working on the development of its technology since 2017 and has raised over $30 million through private funding rounds. Fetch.
ai’s technology is based on the Ethereum blockchain and utilizes smart contracts to enable digital agents to autonomously negotiate and execute tasks on behalf of their owners. The company’s ultimate goal is to create a decentralized autonomous organization (DAO) that can be used by businesses and individuals to build their own applications on top of the Fetch.ai network. .
The Fetch.ai network is composed of three main components: the digital world, the physical world, and the data world. The digital world refers to the network of digital agents that interact with each other and with the physical world.
The physical world is the real-world environment in which these interactions take place. The data world is a collection of data sets that can be accessed and utilized by the digital agents.
Fetch.ai’s technology allows for the creation of what are called “agent-based models” (ABMs). ABMs are simulations that allow for the testing of various economic theories and scenarios.
By creating ABMs on Fetch.ai’s network, businesses and individuals can test different theories and strategies without risking any real-world capital.
In addition to its potential use case as a testbed for economic theories, Fetch.ai also has potential applications in supply chain management, IoT, finance, and many other industries.
The company is currently working on a number of pilot projects in these sectors to showcase the potential of its technology.
One such pilot project is a partnership with Daimler AG, one of the world’s largest automakers, to explore how Fetch.ai’s technology can be used in supply chain management. Under the partnership, Daimler will use Fetch.
ai’s technology to track vehicles throughout its supply chain from production to delivery. This will allow Daimler to optimize its production processes and reduce costs associated with inventory management.
Another pilot project is a partnership with Ambrosus, a Swiss startup that is building a blockchain-based platform for tracking food and pharmaceutical products throughout the supply chain. Under the partnership, Ambrosus will use Fetch.
ai’s technology to track food products from farm to table and ensure that they are safe for consumption. This will help Ambrosus create a tamper-proof record of food safety that can be used by retailers and consumers alike.
The potential use cases for Fetch.ai’s technology are vast and varied.
The company is still in the early stages of development but has already made significant progress towards its goal of creating a DAO that can be used by businesses and individuals to build their own applications on top of the Fetch. With continued development, Fetch.