Deutsche Telekom AG, the world’s fifth-largest telecommunications provider by revenue, is joining the NEAR ecosystem as part of its Enterprise Node Operators program.
In its announcement, the German telecom giant stated it would play a “key role” as a validator for NEAR. It noted the collaboration broadens its “staking portfolio” by adding a network focused on “decentralized AI and scalability.”
Oliver Nyderle, Deutsche Telekom’s Head of Digital Trust & Web3 Infrastructure, described the partnership as “promising and innovative.” He highlighted that NEAR’s network aligns with Deutsche Telekom’s commitment to enhancing data sovereignty and empowering users with greater control over their data.
Notably, the company did not reveal the specifics of its involvement as a validator for the network.
To qualify as a block-producing validator on the NEAR Protocol, the required minimum stake is determined by the “seat price,” which corresponds to the 100th highest proposal among validators. This threshold adjusts dynamically with validator participation levels, according to NEAR’s documentation. Currently, the minimum stake needed is set at 67,000 NEAR (approximately $383,000 at the present market rate).
This partnership advances the NEAR’s goals of increasing institutional engagement and scalability. The Enterprise Node Operators (ENO) program, established in February 2024, aims to enhance the protocol’s ecosystem by partnering with companies that will leverage their expertise to run nodes within the ecosystem.
Deutsche Telekom’s venture with NEAR follows a recent pilot project between its subsidiary, MMS, and Bankhaus Metzler, Germany’s second-oldest bank, on using surplus renewable energy for Bitcoin mining. The project will reportedly test the method’s viability in enhancing the stability of Germany’s energy grid. Nyderle described the project as “digital monetary photosynthesis,” where surplus energy is transformed into digital assets. Through this collaboration, MMS and Bankhaus Metzler are also exploring broader financial applications for digital assets.
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