Fetchai Cooperates With Bosch To Form New Web3 Foundation

The Fetch.ai Foundation will be based on the core principles of transparency, openness, neutrality, and data and technology sovereignty. Initially, Bosch and Fetch.ai will lead the foundation’s governing board and seek to expand the foundation alongside other key players in the industry. The Fetch.ai Foundation will conduct research and develop Web3, the third iteration of the internet-driven blockchain, for practical applications in consumer, business, and industrial sectors. It will feature a three-tier governance structure that is based on the decentralized innovation model of the Linux Foundation. It is reported that Bosch is a world-leading technology and service provider, and its business is divided into four business units: mobile solutions, industrial technology, consumer goods, and energy and building technology.