Deutsche Telekom buys Polkadot (DOT) and becomes the node validator
Deutsche Telekom shows its commitment to Polkadot by purchasing a substantial amount of DOT tokens. It will also become a Polkadot Validator through one of its subsidiaries just days after the first Polkadot Parachains went live.
Deutsche Telekom is the leading telecommunications company in Germany and the largest in Europe. The company announced its recent engagement in the blockchain industry on December 21st. This time it supports Polkadot, an Ethereum killer developed by Gavin Wood, who was previously one of the Ethereum founders.
Deutsche Telekom is already cooperating with the Oracle service Chainlink, the flow blockchain from Dapper Labs – the makers of NBA Topshot – and Celo, a DeFi network that specializes in mobile devices.
With Polkadot, however, Telekom is now going all out. According to its press release , it has acquired a significant amount of DOT tokens through its subsidiary T-Systems Multimedia Solutions.
Polkadot fan from the very beginning
Although Telekom is only now getting into Polkadot, it has been observing the cryptocurrency for a long time, reveals Andreas Dittrich, head of the Blockchain Solutions Center at T-Systems MMS.
In the middle of last year, the company announced that it would deal with Polkadot, mainly because of its focus on interoperability. Gleb Dudka, an analyst at T-Systems MMS, revealed at the time that many customers were already inquiring about the possibility of buying DOT tokens.
“You also see the benefits of polkadot in the long run. That’s why they want to actively participate in the network, including on-chain governance, because tokens also give governance rights, ”he said .
“As before with Celo, we are also investing in DOT tokens in order to participate in the management of the network and basically use our money where we need it to support our infrastructure. The main difference now is that it is no longer a venture capital or innovation budget. So it really has become a business case for us. I have to say, I am really proud that we are doing this. “
As one of the largest companies in Europe, Deutsche Telekom is of course interested in the applications of the Polkadot blockchain in corporate solutions. And according to Dittrich, the possibilities are “really interesting”.
“They offer the flexibility and security of a public, permission-free blockchain, but there is both a separation of concerns through parachains and interoperability between the use cases. Even the good ol ‘supply chain use case might make a lot of sense on Polkadot, and I know big industry consortia are definitely keeping an eye on this ecosystem. “
DOT is currently trading at $ 25.40 and is up 7.3% in the past few days. Despite the increase, DOT remains just outside the top ten because Terra (LUNA) and Avalanche (AVAX) have risen massively in the past week.
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