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German telecom company T-Systems MMS buys Polkadot (DOT) tokens

Polkadot

TL;DR Breakdown

  • German telecom giants have bought an undisclosed amount of DOT tokens. 
  • This investment will help T-Systems MMS to improve the Polkadot ecosystem. 
  • The company aims to make communications more secure on public blockchains. 

T-Systems Multimedia Solutions (MMS) has purchased an undisclosed amount of DOT tokens, the native coin of the Polkadot blockchain. The company is a subsidiary of the German telecom giant T-systems GmbH. With this purchase, Polkadot is the fourth blockchain project invested in by the company. Previously, T-Systems MMS had also invested in Chainlink, Dapper Labs, and Celo

With this latest collaboration, T-systems MMS wants to engage its resources in the maintenance and security of the Polkadot blockchain network. As reported by the company, T-systems MMS will become a validator in the Polkadot network. This will help the firm to promote secure communication between independent blockchains. 

T-Systems MMS will improve the Polkadot ecosystem 

T-Systems is one of the leading telecom companies in the world. Earlier this year, the company initiated its participation in public blockchain by investing in CELO. Since then, T-Systems has significantly improved the DeFi platform’s infrastructure and strategic approach. So, its recent investment in DOT tokens is expected to bring similar results for the Polkadot network. 

Polkadot has been significantly improving its network throughout the year. Last week, the blockchain platform launched its first parachains. This will help the network to diversify independent blockchain ecosystems and improve the interconnectivity between networks. Parachains will help to prepare the ecosystem for the upcoming metaverse and web 3.0.  

Polkadot

Blockchain and crypto adoption has really exploded in 2021. T-System’s continuous interest in blockchain networks will surely pave the way for more telecom companies to enter the crypto space. T-systems announcement has already boosted DOT prices. The altcoin is starting to recover from the month-long market crash, as it finds support level at the $27 mark. The DOT token is up by 11% in the last 24 hours, currently trading at $28.09. 

Mohammad Shahid

Mohammad Shahid

An IT and Cybersecurity graduate with specialized knowledge of cryptocurrency and blockchain, Mohammad joins the Repo elite team. He has worked on several blockchain development projects and is an enthusiastic crypto trader.

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