The blockchain company ULedger is bringing a new level of trust and transparent action to data, has now combined forces with Fetch AI, a superb digital economics company. The Fetch system allows the digital entities of the world – who represent IoT machines – the ability to interact and make different transactions than ever before. The new resulting transactions operate independently from human interaction, and at the same time will maintain a record easily verified with the order of the transactions.
The new combination of ULedger and Fetch brings a twist to the blockchain protocol with the Smart Ledger, that incorporates advanced machine learning and AI, something that can potentially reduce the inefficiencies that are synonymous with the human involvement seen in the economy.
In addition to ULedger using their technology that makes Fetch’s possible to network and consume centralized real-time data from various IoT devices as well as other data sources in a verifiable way, also bringing Fetch’s vision for an autonomous machine learning economy one step closer to actual reality.
ULedger also gives users benefits in the way of being able to connect directly to data to the Fetch digital world in which agents acting autonomy to ensure it can reach the highest levels of value. These two forces combined, bring a technology that can scale millions of transactions each second with almost no cost whatsoever.
“By integrating with ULedger’s 3rd generation blockchain protocol, Fetch achieves a way to verify the data from outside their global state machine and seamless integration with other blockchains that are in need of independent verifiability of off-chain data across chains that can benefit from ULedger’s technology. Partnering with a pioneering company like Fetch is a vital step in proving how flexible and adaptive our proprietary technology really is. Fetch’s concept of an open economic ledger is likely to be revolutionary in the process of moving towards autonomous marketplaces void of human error.”
Said Josh McIver, ULedger’s CEO.
Following the first use cases of the partnership, ULedger and Fetch are giving the option for participating users on the Mobility Open Blockchain Initiative (MOBI) – a consortium of automakers, major technology company, and blockchain industry groups that have the main objective to write into stone some common standards to be followed as well as APIs that enable the ability to make payments and share data between cars.
There are some key players who are founding members of the consortium as well: BMW, Ford, General Motors, IBM, Accenture, Consensys, Hyperledger, and more, MOBI strives to create a new digital mobility ecosystem that includes ride-sharing, self-driving vehicles, and more.
With the partnership between Fetch and ULedger’s specialized technology, data that is generated from cars will now be created for real world applications functioning in the moment, connecting the systems which can offer a safer driving experience through possibilities of communicating weather updates or possibly negotiating rights with other vehicles.
“This is one of the those rare, exciting chances to connect two complimentary pieces of technology in a way that hugely broadens the opportunities for the users of both. Fetch provides a vast digital world for ULedger’s customer’s data alongside unparalleled opportunities to build and use collaborative prediction models. Fetch’s users and its networks benefit from a concrete solution to the data oracle problem – an interface between the Fetch world and the real world.”
Said Toby Simpson, CTO of Fetch.