https://ift.tt/3mFReIz telecom giant supports Polkadot, acquires DOT tokens

Polkadot, the “blockchain of blockchains” infrastructure developed by the Parity project, has entered a partnership with T-Systems MMS (MultiMedia Solutions), a subsidiary of the German telecommunications giant Deutsche Telekom.

As per the announcement, T-Systems MMS will “promote secure communication between blockchains.” T-Systems MMS will use its infrastructure to participate in the Polkadot public blockchain network as a validator. In addition, T-Systems MMS has acquired DOT tokens and will support the interoperability between decentralized blockchain networks running on the Polkadot mainchain.

Solves the lack of interoperability between blockchains

DOT, the native token of the Polkadot network, is ranked number ten by market cap at a current valuation of over $32 billion. The announcement does not include information on the amount of DOT tokens acquired by T-Systems MMS.

Polkadot aims to solve the lack of interoperability between blockchains, which today are typically data silos. Polkadot’s relay chain, the central chain of Polkadot, coordinates the interactions between different parallel networks, called parachains. By participating in the Polkadot network as a validator, T-Systems MMS” supports the secure and trustworthy exchange of messages between independent blockchains.”           

For the provision and operation of the infrastructure, the Deutsche Telekom subsidiary will use the Open Telekom Cloud. According to T-Systems MMS, the OTC meets the strict requirements for security and compliance in the European legal framework, and “the independence of the Open Telekom Cloud supports the decentralization and thus the resilience of the blockchain network.”

The future vision of a connected world

Dr. Andreas Dittrich, Head of the Blockchain Solutions Center at T-Systems MMS, says:

“As Deutsche Telekom, we have always supported the collaboration of people and companies, now also with decentralized technologies. Polkadot is a heterogeneous, multi-chain network allowing various blockchains of different characteristics to perform arbitrary, cross-chain communication under shared security. We fully believe in this future vision of a connected world,” 

According to company information, Deutsche Telekom is one of the largest telecommunications enterprises in the world, with 242 million mobile subscribers, 27 million fixed-network lines, and 22 million broadband lines. The subsidiary T-Systems with around 28 000 employees, “offers integrated end-to-end IT solutions, driving the digital transformation of companies in all industries and the public sector.”