Vodafone Partners with Aventus to Take the Economy of Things to the Next Level with Web3
Vodafone is the largest telecoms company across Europe and Africa. Its purpose is to connect for a better future by using technology to improve lives, digitalize critical sectors and enable inclusive and sustainable digital societies.
It provides mobile and fixed services to over 300 million customers in 17 countries, partners with mobile networks in 46 more and is also a world leader in the internet of things (IoT), connecting over 167 million devices and platforms. With Vodacom financial services and m-pesa, Vodafone has Africa's largest financial technology platform, serving over 71 million people across seven countries.
Vodafone approached Aventus looking to bring web3 services to its business clients and strategic partners in a secure, interoperable and enterprise-friendly way through the economy of things (EoT). EoT is an emerging economic system that uses networked devices, data, and intelligent algorithms to create new value propositions and business models.
Vodafone decided to connect its economy of things digital asset broker (DAB) platform with the Aventus network. This offers businesses access to the wider blockchain ecosystem via interoperable architecture. By connecting with the Aventus network, business customers and strategic partners of Vodafone dab can access and interoperate with many trusted public blockchains in a controlled and secure way using the dab IoT identity passport. Any trusted device connected to Vodafone DAB is assigned a unique identity passport and then, using secure links, is automatically allowed to trade data and money from different organizations and ecosystems (like an electric vehicle securely transacting with a charging point).
The partnership with Aventus allows Vodafone to help more businesses and strategic partners take advantage of web3’s secure blockchain technologies when trading and exchanging data electronically, as envisioned within the new economy of things.
Jorge bento, CEO of Vodafone DAB, said: “Through our strategic partnership with Aventus, we can help businesses and third-party providers securely adopt and benefit from web3 services through the Vodafone DAB platform. Addressing the needs of the airlines is a start, and we look forward to exploring many other opportunities with Aventus.”