Germany based Deutsche Telekom, which has over 200,000 employees, has a market cap of $80 billion.
The news of Deutsche Telekom subsidiary turning into a node operator, providing decentralized data feeds, is a noteworthy development.
T-Systems has referred the process of functioning as a node operator as “generalized mining.”
In its media release, T-Systems has stated:
“By providing real-world data to the Chainlink network, T-Systems MMS engages in a so-called ‘generalized mining’, where it provides an IT service to a blockchain network while getting paid in digital assets for reliably doing so. As there is a significant value locked in DeFi, such IT services play an important role in the overall Ethereum ecosystem.”
T-Systems, which has over 2,000 employees and recorded a turnover of €176 million in 2019, has been involved in digitizing large enterprises and medium sized firms.
Gleb Dudka, an analyst at T-Systems MMS, said the company trusts it has a responsibility to support public network infrastructure:
“You could even say duty as a telecom company to be a public blockchain network infrastructure provider.”
Even though, at the beginning, T-Systems will function as only a node operator, telecom focused real world scenarios based on blockchain technology, including roaming settlement, is being studied, as per Dudka.