Deutsche Telecom Buys Polkadot

December 21, 2021

Darko Simunovski content is written in English. Translations into other languages are automated and there may be minor text errors.

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Deutsche Telecom’s T-Systems Multimedia Solutions (MMS) has bought an undisclosed amount of DOT tokens in latest blockchain push. Deutsche Telekom AG subsidiary – T-Systems Multimedia Solutions (MMS) – is not new to the world of blockchain technology. In the latest development, Polkadot (DOT) has become the fourth blockchain that the German telecommunications giant has added to its list. Additionally, it has purchased an undisclosed amount of DOT tokens.

We hade a fundamental analysis on Polkadot where you can see it here:

The latest move comes at a time when next-generation blockchains have moved beyond the hype and are witnessing growing adoption. Dr. The Polkadot team is excited about the new partnership with T-Systems Multimedia Solutions. The Polkadot platform will allow for interoperability between different sub-chains, also known as parachains. Deutsche Telekom have become a global telecommunications provider and one of the biggest providers in Europe. Deutsche Telekom is also very open to explore new possibilities in collaboration between people and companies.

The announcement from Deutsche Telekom and T-Systems Multimedia Solutions states that the company has plans to begin staking on other chains in the coming days. It also mentioned that its subsidiary has plans to develop its own applications on the Substrate programming framework of the Polkadot network. It is one of the most innovative blockchain technologies. For instance, it enables developers to build and release a blockchain with various features for different projects’ needs. Recently, staking services have become quite an innovative business model for legacy telecoms companies. In February, the subsidiary of Europe’s biggest telco became one of the main data providers to prominent oracle network Chainlink. In March, T-Systems revealed that it was staking on the Flow Network, the proof-of-stake (PoS) blockchain created by Dapper Labs. And it revealed plans to start staking on other chains in the coming days. A more recently, Deutsche Telekom made a similar significant purchase of Celo’s native asset Celo.

It is not coincidence that, after the announcement from Polkadot launch of the first parachains: Acala, Moonbeam, Parallel Finance, Astar, and Clover are active. 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, Web 3.

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