Peaq, a Web3 network provider, and Fetch.ai, a pioneer in autonomous AI agents, have unveiled multi-chain Self-Sovereign Machine Identities. This significant integration allows multi-chain data exchanges between connected devices on Peaq and Fetch.ai, thereby promoting interoperability within the Web3 space.
The current challenge with blockchain in real-world use cases like supply chain management is the lack of network interoperability, which is crucial for entities on different blockchain networks to interact. Web3 projects like Polkadot and Cosmos are working to resolve this by pioneering native interoperability. Peaq's unveiling of multi-chain Machine IDs, enabled by autonomous AI agents at Fetch.ai, pushes interoperability further.
This integration uses a decentralized address book running on Peaq's storage pallet. When a user creates a Machine ID on Peaq, they can add their network address to this address book. An autonomous agent is created on Fetch.ai’s Agentverse, and its address and wallet in the Cosmos IBC ecosystem are added to the address map on Peaq.
The agent then continually collects any data associated with the address on Peaq linked to its Cosmos address on the address book, enabling multi-chain data exchanges between vehicles, robots, and devices in the Polkadot and Cosmos ecosystems.
This advancement aligns with Peaq's vision of a multi-chain Economy of Things across different blockchain ecosystems. It will facilitate wider interoperability through multi-chain machine communication and interactions, with use cases extending to decentralized energy grids, shared autonomous vehicles, supply chain management, and healthcare systems.
Additionally, the introduction of multi-chain Machine IDs could potentially enable multi-chain crowdfunding, multi-chain identity management, and transactions involving multiple identities on multiple blockchains. Peaq aims to become the multi-chain hub for Decentralized Physical Infrastructure Networks (DePINs) projects in the Polkadot and Cosmos ecosystems, with plans to make it accessible through Peaq’s SDK.
This collaboration between Peaq and Fetch.ai underscores the importance of partnership in the Web3 space and demonstrates the value of multichain communication in maximizing the potential of AI agents. By bridging the Polkadot and Cosmos ecosystems, the integration aims to create value for all stakeholders and foster a more connected and integrated Economy of Things.
