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Fetch to Transform the Transaction Method With Their New Smart Ledger

  • Uncategorized
  • Sep 11, 2019
Today, the term autonomous is being frequently used in Tech world due to the technological advancement and development in machine learnings and artificial intelligence. These days there many autonomous things around like drones, cars, robots etc. which collects the data from the external environment and make decision on their own without any human assistance. Proper programming and advanced AI technology will help these systems to work accurately and help them to interact more naturally with their environment.  This technology will somewhere will improve the quality of life, increase mobility, increase human safety and will also improve the efficiency and productivity. Recently, Fetch announced the launch of their new disseminate system which is the world’s first self- coordinating smart ledger technology which is specially designed for decentralize transactions. This new technology is next- generation systems which allow the autonomous economic agents (AEA) to perform various activities. In simple words, this this will allow the autonomous economic agents to transact any data and services with other AI- powered system with the speed of millions per second and all the payments and other activity will be managed automatically. As per the company, now without revealing their IP’s associations can easily combine their internal networks with the Fetch. It also generates a token that can be used to exchange the utility value on the network, which also provide enticement for administering a nodule. This new technology has built in AI, which also has the combination of block chain and directed acrylic graph so that performance and measurability can be improved so that number of transaction can be performed together. This new mechanism is known as Useful Proof of Work. This new system can easily create any autonomous agents which work on the behalf of the company and organizations and will be able to perform any task. According to CTO Toby Simpson – who was part of the initial DeepMind team- Autonomous economic agents are going to change the commerce as they are those machines that can work independently without any human interference and can represent anyone whether it is machines, people and even themselves.  They are trying to create a world where everything can be connected with each other and it is very easy to get access to data, services and information because they will deliver themselves to the people with great correctness. These autonomous agents are very useful as they can use the data and information correctly and efficiently so that the problems can be solved. He also added that Fetch digital will act as a value exchange dating agency where autonomous agents can either work together or alone to solve the problem. CEO Humayun Sheikh said that it is the first time Fetch is providing a self- organizing digital world where allows the usage of data for the decision making, energy and computing, for the transportation of the physical assets. The proper data information and good AI working in the right environment will help anyone to solve problem even before it arise. Fetch is also planning provide code on GitHub so that they can develop agents in languages such as C++ and Python, as well as a set of frameworks which will help the Web developers to design, configure, and author agents. They also announced about the range of partnerships in the upcoming months.