Bosch and Volkswagen, the two giant industrials are considering seriously that decentralized data marketplaces and internet of things can co-exist. Both of these companies are teaming up with decentralized transactional platform IOTA. IOTA’Tangle is a settlement system and transactional data transfer for connected devices.
Bosch announced that it intends to introduce a combination of its cross domain development kit, and morph XDK with IOTA marketplace in cohesion with a masked communications channel. Generally, it can be said use case is feasible where Bosch XDK measures sensor data, and the set-up has potential buyers. For instance, any enterprise who are renting out machinery and billing it for the stipulated time could be a use-case.
Automotive and Supply Chain Verticals Vie to adopt Blockchain IoT
Automotive industries are willing to opt blockchain-like, or any other alternative-technology distributed ledgers to attract consumers for lease return. Apart from IOTA, there are few others distributed ledger technology which are aimed at IoT. For instance, Hyundai has its hidden-network of blockchain. It allows payment processing over Bitcoin and merges other blockchain networks. Some of the use of Hyundai’s blockchain for industrial IoT is for reducing fraud bill issues, detecting unique identifiers for counterfeiting reduction, and provides better encryption in overall processes.
Another significant blockchain-enabled IoT is Australia’s Ultimo Digital Technologies. This blockchain-enabled IoT system ensures production-chain fraud reduction along with food origin protection and verification. Blockchain-enabled IoT system eases out digital identification of goods in shipment.