Funding to Support Further Technical Development and Corporate Deployments
Fetch.AI, the decentralised network providing the world’s first decentralised infrastructure for digital representatives ‘Autonomous Economic Agents’ to find, communicate and trade with each other, announced that its token sale on Binance Launchpad will begin on Monday 25 February at 14:00 UTC.
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 asset, such as a hotel room or hospital bed, can now be represented by an autonomous agent so they can manage their own affairs, like autonomous booking, pricing, and maintainance.
Humayun Sheikh, CEO of Fetch.AI said: “Today’s internet is built for ecommerce solutions but the new web needs to enable more autonomous 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.”
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.
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.”
“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.”