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Deutsche Telekom Subsidiary Acquires DOT Tokens To Support Polkadot

A Deutsche Telekom subsidiary acquired DOT tokens in order to support Polkadot. Let’s find out more today in our latest crypto news.

T-Systems MMS which is a Deutsche Telekom subsidiary took part in securing and maintaining the Polkadot netowrk and as part of the partnership, the company acquired DOT tokens. Polkadot is one of the most popular blockchains and was developed by the Parity project but it entered a new partnership with T-Systems MMS. According to the announcement, T-systems MMS will promote secure communication between blockchains. The company will use its infrastructure to take part in the Polkadot public blockchain network as a validator. Furthermore, T-Systems MMS acquired DOT tokens and will support the interoperability between decentralized blockchain networks that run on the mainchain of Polkadot.

Winning Polkadot Parachains, auction, network, DOT

DOT as the native token of the Polkadot network ranked 10th in the market cap with a current valuation of over $32 billion. The announcement does not include more information on the amount of DOT tokens acquired by T-Systems MMS. Polkadot aims to solve the lack of interoperability between blockchains that are usually data silos. Polkadot’s relay chain as the central chain of Polkadot coordinates the interactions between these networks called parachains. By taking part in the Polkadot network as a validator T-Systems MMS and supports the secure and trustworthy exchanges of messages between the other independent blockchains.

For the provision and operation of the infrastructure, the company will use the Open Telekom Cloud. As per T-Systems MMS, the OTC meets the strict requirements for compliance and security in the European legal framework and the “Independent of the Open Telekom Cloud” which supports the decentralization of the blockchain network. Dr. Andreas Dittrich who is the head of the Blockcahin Solutions Center at T-Systems MMS noted:

“As Deutsche Telekom, we have always supported the collaboration of people and companies, now also with decentralized technologies. Polkadot is a heterogeneous, multi-chain network allowing various blockchains of different characteristics to perform arbitrary, cross-chain communication under shared security. We fully believe in this future vision of a connected world.”

deutshce telekom

According to the company’s information, Deutsche Telekom is one of the biggest enterprises in the world with more than 242 million mobile subscribers and 27 million fixed-network lines as well as 22 million broadband lines. The company has more than 28,000 employees that offer end-to-end IT solutions that are driving the transformation of companies across industries and the public sector.

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