Polkadot is Deutsche Telekom’s New Crypto Experiment https://ift.tt/3pn4hRe

Deutsche Telekom AG, Europe’s largest telecom business, is backing Polkadot, an interoperable architecture of public blockchains curated by Ethereum co-founder Gavin Wood.

T-Systems Multimedia Solutions (MMS), the subsidiary of Deutsche Telekom, does not leave any stone unturned to support Blockchain technology.

The telecom has already made a significant investment in the field, offering infrastructure support to Chainlink’s proof-of-stake (PoS) consensus methods, Flow by Dapper Labs, and Celo.

T-Systems will not only provide node-running infrastructure to those who stake assets on the Polkadot blockchain, but the company has also bought a “significant” amount of DOT. This requires the integration of a crypto business function into the telco’s accounting system. In doing so, the innovation department at  Deutsche is taking it a step ahead.

Polkadot is going to be Deutsche Telekom’s fourth promising project on Blockchain. However, it became the only network T-Systems examined for operating infrastructure, also becoming the major aspect for the company since the beginning, according to Andreas Dittrich, head of Deutsche Telekom’s Blockchain Solutions Center. As a result, T-Systems will run many Validators for the Polkadot network, according to Dittrich.

Dittrich mentioned that the way they did for Celo, they are looking forward to investing in tokens of DOT that can help in participating in the network governance. However, there is a difference since it is not the VC and is done on its unit.

“Layer 1” networks connected with “Layer 0,” known as the Polkadot, are now focused on decentralized financial applications, ETH Compact protocols, and stablecoin. Layer 1 blockchains function by themselves compared to other blockchains, as opposed to the “layer 2” system, which aims to speed up transactions on current blockchains such as Ethereum.

Dittrich cited the initial days of corporate Blockchain and was when Deutsche Telekom partnered with the Linux-affiliated Hyperledger stable of permission ledgers as an example of use cases that T-Systems may discover.

Dittrich thinks that the opportunities Polkadot offers are pretty valuable for the company. Furthermore, it gives the freedom of the public and the non-restricted Blockchain. However, it does carry separation by interoperability among the cases.