News Report Technology
June 13, 2023

Web3 Network peaq and Fetch.ai Unveil Polkadot-Cosmos Multi-chain IDs for Vehicles and Devices

Web3 network peaq has unveiled multi-chain Self-Sovereign Machine Identities enabled by autonomous AI agents at Fetch.ai, a layer-1 blockchain that powers peer-to-peer applications with automation and AI capabilities.

Web3 Network peaq and Fetch.ai Unveil Polkadot-Cosmos Multi-chain IDs for Vehicles and Devices

The multi-chain Self-Sovereign Machine Identities enable devices connected to the peaq network to have their own unique identities. The data exchanges between devices connected to peaq and Fetch.ai will happen across different blockchains. Specifically, peaq operates on Polkadot, while Fetch.ai operates on Cosmos IBC. 

The integration between peaq and Fetch.ai is now available on peaq’s GitHub repository. It allows peaq to bring its capabilities, which are designed to power decentralized physical infrastructure networks, into the Cosmos ecosystem. The project involves two machine accounts named Bob and Alice which communicate with each other using Fetch.ai agents and the peaq network.

According to a press release shared with Metaverse Post, the multi-chain Machine IDs on peaq opens doors for interoperability by enabling decentralized data exchanges between the two multi-chain ecosystems. To facilitate these data exchanges, peaq has a decentralized address book which serves as a directory that helps devices find each other and exchange data. When creating a Machine ID on peaq, a user will have the option to add its address on the network to peaq’s address book.

If a user chooses to, they can create an autonomous agent on Fetch.ai’s Agentverse. This autonomous agent will have its own unique address and digital wallet on the Cosmos IBC ecosystem. The user’s machine will also have its own unique identity called a “peaq ID” on the peaq network.

Once the autonomous agent is created, it will keep checking the peaq network to see if there is any important information connected to its address on peaq by pinging the peaq network. This whole process allows different machines like vehicles, robots, and devices from the Polkadot and Cosmos ecosystems to exchange data with each other.

This project expands upon an earlier integration between peaq and Fetch.ai. Peaq says that the project “advances its vision of a multi-chain Economy of Things spanning multiple blockchain ecosystems.” For instance, an electric vehicle on a Cosmos blockchain could discover an available charging station on peaq. Other use cases it can enable include:

  • Decentralized Energy Grids: Multi-chain Machine IDs enable cross-network energy sales in a smart city where the public grid and private units such as solar panels run on different blockchains. 
  • Shared Autonomous Vehicles: Autonomous vehicles on different blockchains can use multi-chain Machine IDs to communicate with each other.
  • Supply Chain Management: Multi-chain Machine IDs enable end-to-end tracking and coordination of goods and services in a global supply chain leveraging different machines on different blockchains at different stages.
  • Healthcare Systems: Multi-chain Machine IDs enable data-sharing among medical devices running on different blockchains, resulting in more comprehensive and efficient healthcare.

“Collaboration is key in the Web3 space,” said Maria Minaricova, Director of Business Development at Fetch.ai. “To maximize the potential of our AI Agents, we believe in utilizing multichain communication across devices. By bringing together the Polkadot and Cosmos ecosystems, we create value for everyone involved.”

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About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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