Germany’s telecommunications giant, Deutsche Telekom, has become the first telecom company to operate a validator node on the NEAR blockchain protocol. This marks a significant move in the blockchain space for the company, aiming to enhance decentralization and security on the NEAR network.
Deutsche Telekom will play a “key role” in managing the NEAR network, contributing to its stability and data privacy. A company spokesperson described this collaboration as “promising and innovative,” aligning with the firm’s focus on strengthening data sovereignty and user data control.
Operating as a validator on NEAR requires a minimum staking amount of approximately $383,000. Following the announcement, NEAR’s token price surged by 9.5%, reaching $5.6. This partnership with NEAR comes shortly after Deutsche Telekom’s subsidiary launched a pilot project to use excess renewable energy for Bitcoin mining, showcasing the company’s growing interest in blockchain and crypto technologies.