The IOTA Foundation has recently partnered with RIDDLE&CODE to enable the industrial internet of things (IoT). Using RIDDLE&CODE’s blockchain it would be possible to process data from reliable sources. The information was released a few days ago in a blog post by the IOTA Foundation.
IOTA Foundation Wants to Enable Industrial IoT
With the new collaboration between the IOTA Foundation and RIDDLE&CODE, they will be enabling autonomous machine-to-machine transactions using the IOTA Tangle. With RIDDLE&CODE’s blockchain hardware, a new secure environment for business processes will be enabled. This would only allow reliable information from trusted sources.
About the partnership, Tom Fuerstner, RIDDLE&CODE founder and CTO, explained:
“Real-world industrial and smart city environments require trusted, scalable and transparent environments from end-to-end to store data. By securely connecting any IoT sensor or machine to the IOTA Tangle with our crypto chips and middleware, we are delivering just that.”
This solution limits data to sources that have a certified identity. Moreover, the partnership will enable significant enhancements over existing technologies that can be copied or cloned such as QR codes. Using a crypto chip built by RIDDLE&CODE it is possible to provide a device with a tamper-proof digital identity. This would transform it into a trusted source of data.
According to the press release, this added trust will allow cars to self-drive or an industrial robot to take several tasks autonomously. Furthermore, these robots would be also to manage power consumption or order parts that are required just-in-time.
“This integration with RIDDLE&CODE brings to life the IOTA Foundation’s vision of enabling all connected devices,” commented Holger Köther, the IOTA Foundation’s director of partnerships. “With this step, the requisites of trust are in place for the industry to adopt highly innovative tech infrastructure for more efficient business processes.”
In addition to it, these organizations will also demonstrate an integration of their technologies. These create a secure identity on a hardware device that uses RIDDLE&CODE’s Secure Element. This will easily allow IOTA’s Tangle to initiate transactions.
IOTA is currently the 13th largest virtual currency in the market after experiencing a very hard year. Each MIOTA can be purchased for $0.274 and it has a market capitalization of $763 million.