Deutsche Telekom’s Subsidiary Adopts Polkadot Blockchain, Buys DOT
Deutsche Telecom’s T-Systems Multimedia Solutions (MMS) recently bought an undisclosed amount of DOT tokens in the latest move to adopt blockchain.
T-Systems Multimedia Solutions (MMS) – a subsidiary of Deutsche Telekom AG – is not a new player in the world of blockchain technology. Polkadot (DOT) has now become the fourth blockchain that the German telecommunications giant has added to its list. Also, it has purchased an undisclosed amount of DOT tokens.
According to a statement, T-Systems Multimedia Solutions has bought a significant amount of Polkadot’s native DOT tokens. Polkadot is the brainchild of Etheruem co-founder Dr. Gavin Wood and is designed to accommodate different interconnected, application-specific sub-chains, also known as parachains.
The statement explained:
“Typically, the various blockchains are data silos. Polkadot aims to create interoperability between the blockchains. For this purpose, Polkadot’s central relay chain coordinates the interactions between different parallel networks, the so-called para-chains. By participating in the Polkadot network as a validator, T Systems MMS supports the secure and trustworthy exchange of messages between independent blockchains.”
Deutsche Telekom is one of the world’s most prominent integrated telecom companies. Hence, its backing for Polkadot demonstrates rising interest in the ecosystem. But its subsidiary has more plans.
Dr. Andreas Dittrich, Head of the Blockchain Solutions Center at T-Systems MMS said:
“As Deutsche Telekom, we have always supported collaboration between people and companies, now also with decentralized technologies. Polkadot is a heterogeneous multi-chain network that enables various blockchains with different properties to carry out any cross-chain communication under common security . We firmly believe in this future vision of a networked world.”
As of recently, staking services have emerged as quite an innovative business model for legacy telecoms companies. In February this year, the subsidiary of Europe’s biggest telco became one of the main data providers to prominent oracle network Chainlink.
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 significant purchase of Celo’s native asset CELO.
