Deutsche Telekom AG’s subsidiary – T-Systems Multimedia Solutions (MMS) – is not new to the world of blockchain technology. In the latest development, Polkadot (DOT) became the fourth blockchain that the German telecommunications giant added to its list. Additionally, he purchased an undisclosed amount of DOT tokens.
The latest move comes at a time when next-generation blockchains have moved beyond the hype and are witnessing growing adoption. Furthermore, it also cements the telco’s ambitious plans as the industry evolves.
Deutsche Telecom and Polkadot
According to the company’s statement, T-Systems Multimedia Solutions has purchased a significant amount of native Polkadot DOT tokens. Polkadot is the brainchild of Etheruem co-founder Dr Gavin Wood and is designed to accommodate different interconnected and application-specific substrings, also known as parachains.
Dr. Andreas Dittrich, the Head of the Blockchain Solutions Center at MMS, spoke about Deutsche Telekom’s openness to explore collaboration between people and companies. The announcement also mentioned that the company will be running numerous private as well public validators for the Polkadot network.
Deutsche Telekom is one of the world’s largest integrated telecommunications companies. Thus, its support for Polkadot demonstrates a growing interest in the ecosystem. But its subsidiary has more projects.
Going forward, Dittrich revealed that T-Systems Multimedia Solutions intends to develop its own applications on the Polkadot blockchain programming framework Substrate. It enables devs to build and release a blockchain with various features for different projects’ needs.
Recently, staking services have become a fairly innovative business model for traditional telecommunications companies. In February of this year, the subsidiary of Europe’s largest telecommunications company became one of the main data providers for Oracle’s premier Chainlink network.
T-Systems also revealed that it was staking on the Flow Network, the proof-of-stake (PoS) blockchain created by Dapper Labs. It announced plans to start staking on other chains in the coming days.
More recently, Deutsche Telekom made a similar purchase of Celo’s native asset, CELO.
Polkadot Parachains
After five years of technical development, the open-source blockchain platform announced the launch of the first parachains last week, which are- Acala, Moonbeam, Parallel Finance, Astar, and Clover. The main objective behind the creation of these chains, running parallel, is to create new opportunities through interconnected chains and set the scene for the next phase of the decentralized internet, Web3.
