Deutsche Telekom becomes a blockchain validator for NEAR
German telecommunications giant Deutsche Telekom has become the first telecommunications company to operate a validator within the NEAR Protocol. Deutsche Telekom AG, the world’s fifth-largest telecommunications company in terms of revenue, is joining the NEAR ecosystem’s Enterprise Node Operators program to support the decentralization and security of the network.
In a press release on November 11, Deutsche Telekom stated that it will play a “key role” as a validator in the blockchain’s operation as part of the NEAR ecosystem’s institutional orientation. Oliver Nyderle, the head of digital trust & web3 infrastructure at Deutsche Telekom, described the collaboration as “promising and innovative,” emphasizing that the network aligns with the company’s commitment to data sovereignty and user data control.
Deutsche Telekom stated that its collaboration with NEAR expands its “staking portfolio” to include a network in the field of decentralized AI and scalability. However, the company did not disclose the extent of its involvement as a validator within the network.
To become a block-producing validator on the NEAR Protocol, a minimum stake is required, which is often determined by the “seat price” based on the 100th highest proposal among validators. According to the network’s documentation, this threshold changes dynamically based on validator participation, with the absolute minimum threshold set at 67,000 NEAR (approximately $383,000 at the current market price). Following the news, the price of NEAR increased by 9.5% and reached $5.6.
This collaboration comes shortly after a pilot project launched by Deutsche Telekom subsidiary MMS and Bankhaus Metzler, Germany’s second oldest bank, to explore the use of surplus renewable energy for Bitcoin mining. The project aims to gather field data that could contribute to stabilizing Germany’s energy grid.
Read more: Commerzbank partners with Deutsche Borse’s subsidiary for crypto offerings.
