In an official statement, Fetch.AI revealed that the firm would begin token sales on February 25 this year, though it would initially be available only on the Binance. Fetch.AI is a decentralized network that implements the combination of artificial intelligence (AI) and blockchain to make the system for the very first ‘Autonomous Economic Agents.’ These AI agents are supposed to find, connect, commune, and assist in trading with each other.
This special mix of distributive ledger technology with AI uses the token as a medium of exchange that enables the use of data and other services efficiently. Moreover, this token can support device-to-device micro-transactions.
The firm’s CEO was determined that artificial technology will play an important part in the future’s trading methods. He then added that making the infrastructure for such solutions will pave the road in bringing AI-based machine economy into the real world.
This can be beneficial to both businesses and individual clients as well. The token can be used to represent the value of any goods and assets in the real world. An autonomous agent on the virtual network will represent the asset. These may include airline tickets, hotel rooms, and many other services.
Similarly, the system can work through the mobile devices held by individuals to determine their preferences, habits, and can advise them accordingly.
The developing team is also working to gain further adoption for recently developed innovative technology in Europe. This is done through a lobbying group for which the members include XRP Cardano and NEM.