As a significant player in sensor manufacturing, the German conglomerate Bosch is engaged in multiple Web3 initiatives.
A compact device that can produce data on real-world phenomena, including seismic activity, light and noise pollution, and weather, is the most recent innovation.
It is affiliated with Web3 Rails and is a component of decentralized physical infrastructure networks (DePIN), an expanding subset of cryptocurrencies.
Without requiring a centralized intermediary, the new device, known as the Bosch XDK110 Rapid Prototyping Kit, is a smart sensor that enables users to receive cryptocurrency rewards in exchange for data.
Every device is equipped with a distinct digital identity, which allows it to engage with the Polkadot parachain, also known as the Peaq network.
According to the companies, a third collaborator, Fetch.ai, offers autonomous AI agents that can optimize the activity of the devices to maximize owner rewards.
Fetch facilitates connections between data consumers and a network of decentralized suppliers via its DeltaV marketplace.
Bosch is “not concentrated on one blockchain or one decentralized marketplace,” according to Peter Busch, product owner of the organization’s distributed ledger technologies mobility team.
“Therefore, about data sovereignty, privacy, and security, the utilization of these decentralized technologies—self-sovereign identity—enables us to conduct business with [our personal information] more covertly.”
The group of companies presented a proof-of-concept during a recent hackathon held at the University of Applied Sciences in Saarbruecken, Germany.
Fetch has collaborated with Bosch for a considerable period to establish privacy-preserving data sharing regarding the use of AI agents.
This effort is a component of MoveID, a Bosch-led, publicly funded project with similar objectives.
“One of the most important aspects is enabling self-sovereign identities in vehicles and mobility infrastructure,” Fetch’s business development director, Maria Minaricova said.
“Assigning identity to the devices enables them to function independently,” she explained.
Obtaining financial gain from user-generated content and reclaiming privacy are some of the most prominent themes surrounding Web3 technologies.
The EU is making a significant effort in this area, according to Busch, despite the politically fraught nature of crypto’s role.
“We are seeking alternatives to Google and Amazon’s traditional cloud computing technologies,” he explained.
“They are already inside [the vehicle], and they are removing an increasing number of components; this is a very hazardous situation.”
Busch stated, “By collaborating with Peaq, for instance, we have a use case in which you can demonstrate the decentralized manner in which the vehicle interacts with the charging station while protecting the confidentiality of the driver’s information.”
Token incentives bolster deploying such devices and services; Helium’s wireless mobile data is an exemplary instance.
