Deutsche Telekom Goes Polkadot (DOT)

What is Polkadot (DOT)?

Polkadot (DOT) enables cross-blockchain transfers of any type of data or asset, not just tokens. Connecting to Polkadot (DOT) gives users the ability to interoperate with a wide variety of blockchains in the Polkadot (DOT) network. One key attribute of Polkadot (DOT) is that it can upgrade without hard forks to integrate new features or fix bugs. Upgrades to the network are coordinated on-chain and enacted autonomously. This ensures that Polkadot’s (DOT) development reflects the values of its community. It also ensures that Polkadot (DOT) avoids stagnation.

T-Systems MMS Buys DOT Tokens

T-Systems MMS, a subsidiary of German telecoms giant Deutsche Telekom, has entered into a partnership with Polkadot (DOT).

Key points from the T-Systems MMS announcement include:

• T-Systems MMS participates with its infrastructure in securing and maintaining the Polkadot network.
• Deutsche Telekom subsidiary acquires DOT tokens.
• T-Systems MMS promotes secure communication between blockchains.
• For the provision and secure operation of the infrastructure, the Deutsche Telekom subsidiary will use the Open Telekom Cloud.
• The independence of the Open Telekom Cloud supports the decentralization and thus the resilience of the blockchain network.
• Polkadot is a heterogeneous, multi-chain network allowing various blockchains of different characteristics to perform arbitrary, cross-chain communication under shared security.
• We fully believe in this future vision of a connected world.

The announcement did not reveal, however, how many DOT tokens T-Systems MMS had purchased.

T-Systems MMS is not the only corporate entity to now hold digital assets. Tesla is one of the largest listed companies in the U.S to hold a substantial amount of crypto. According to one article, released in the summer, 34 listed companies held over 213,000 Bitcoins (BTC) as at June 28^th, 2021. Of the 34, the Bitcoin (BTC) holdings of 12 U.S companies accounted for almost 90% of the total.

When considering the combined value of Bitcoin (BTC) holdings outlined above, it’s of little surprise that there is so much chatter amongst regulators.

Just this week, news hit the wires of the 117^th Congress introducing 35 bills related to crypto. This follows chatter from the Bank of England last week over the need for a global framework. The BoE had highlighted in a report that a large fall in crypto asset valuations may cause institutional investors to sell other financial assets and potentially transmit shocks through the financial system.

Polkadot (DOT) Price Action

At the time of writing, Polkadot (DOT) was down by 10.08% to $27.84, with a market cap of $27.74bn. By market cap, Polkadot (DOT) was placed at #10 on CoinMarketCap.

In early November of this year, Polkadot (DOT) had struck an ATH $55.05 before falling back to pre-October levels.