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Home News Fetch.AI To Launch Token Sale on Binance Launchpad to Build Intelligent Machine-to-Machine...

Fetch.AI To Launch Token Sale on Binance Launchpad to Build Intelligent Machine-to-Machine Economy

Decentralised network Fetch.AI, a decentralised infrastructure for digital representatives ‘Autonomous Economic Agents’ to find, communicate and trade with each other, has announced that its token sale on Binance Launchpad will begin on Monday 25 February at 14:00 UTC.

Humayun Sheikh, CEO of Fetch.AI said:

“Today’s internet is built for ecommerce solutions that enable connectivity between humans. The new web needs to enable more autonomous machine-based solutions and this requires building the infrastructure and tools to make it deployable. Fetch.AI is building the deployment infrastructure, which brings the new AI-based autonomous machine economy to life.”

Giving a practical example, Sheikh added:

“Let’s take travel. Today, people rely on traditional travel agents or spend hours searching for the travel combinations they need. An autonomous agent learns from your behaviour to build a clearer picture of your needs. It uses that insight to search vast combinations of options, confirms availability with, say, an airline or rail network, negotiates a price and completes the transaction.”

He continued: “For businesses, this enables a more targeted selling opportunity without the need for a user’s personal data or deployment of machine learning algorithms.”

“The Fetch network is in a position to help overcome barriers presented by centralised systems for bringing data to life, leveraging an AI and decentralised solution,” said Binance CEO and Founder, Changpeng Zhao (CZ).

“We are looking forward to this project that will help create a decentralised digital world for the future of economic activities and marketplaces.”

The Fetch.AI token (FET) acts as the medium of exchange, allowing autonomous agents to exchange tokens for data, services, and other goods within the Fetch.AI network, easily supporting machine-to-machine microtransactions.

For businesses, the new approach means virtually any networked machine or real-world assets, such as hotel rooms or hospital beds, can now be represented by an autonomous agent so they can manage their own affairs, like autonomous booking, pricing, and maintenance. This type of infrastructure enables new marketplaces to evolve and flourish without the need for intermediaries.

For users, an autonomous agent can live on a smartphone continuously learning the intimate needs of the user based on decisions the human takes and by accessing data from calendars, email, and many other systems to enable highly personalised experiences. The data needed to inform this step-change in personalisation and automation remains sovereign to the user, informing the agent but without the need for the agent to reveal the underlying data to third-parties.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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