The IOTA Foundation and RIDDLE&CODE Partner to Enable the Industrial Internet of Things
(BERLIN & VIENNA, December 3, 2018) — the IOTA Foundation and RIDDLE&CODE today announced their agreement to create a fully trusted path from sensor to Distributed Ledger by integrating their respective technologies. This collaboration enables autonomous machine-to-machine transactions using the IOTA Tangle. RIDDLE&CODE’s blockchain-connected hardware enables a secure environment for business processes that will only allow reliable data from trusted sources.
Tom Fuerstner, RIDDLE&CODE founder and CTO said: “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.”
Industrial IoT projects have so far only been able to use distributed ledgers to trust data processing and storage. This integration extends trust to the data source, so it becomes trusted. Decision-making based on IoT data becomes possible as the technology limits data to sources designated to play a role. This end-to-end solution lays the foundation for automated machine-to-machine payments and solves the ‘garbage in, garbage out’ problem by limiting data to sources with a certified identity. This partnership enables significant enhancements over existing technologies that can easily be copied or cloned such as QR codes used to acquire data from physical objects. Integrating a RIDDLE&CODE crypto chip to a device provides it with a tamper-proof digital identity, turning it into a trusted source of data. This added trust provides us, as a society, with the control to be able to give mandate to a car to self-drive or to an industrial robot to do various tasks autonomously including managing power consumption or ordering parts that are required in just-in-time.
Holger Köther, the IOTA Foundation’s director of partnerships, stated: “This integration with Riddle & Code brings to life the IOTA Foundation’s vision of enabling all connected devices. With this step, the prerequisites of trust are in place for industry to adopt highly innovative tech infrastructure for more efficient business processes.” The two organizations will be demonstrating an integration of their technologies that creates a secure identity on a hardware device using RIDDLE&CODE’s Secure Element to initiate transactions on IOTA’s Tangle. Any appliance such as a smart meter can be connected to the device for example to measure energy consumption. The Secure Element provides an identity used to write transactions to the IOTA Tangle https://www.iota.org/verticals/industrial-iot.
To schedule a demonstration or briefing, please contact either of the partners.
About the IOTA Foundation
IOTA is a not-for-profit foundation incorporated and registered in Germany. The IOTA Foundation’s mission is to support the development and standardization of new distributed ledger technologies (DLT), including the IOTA Tangle. The IOTA Tangle is an innovative type of DLT specifically designed for the Internet of Things (IoT) environment. It is an open-source protocol facilitating novel Machine-to-Machine (M2M) interactions, including secure data transfer, fee-less real-time micropayments, and the collection and dissemination of sensor-based and other data. www.iota.org
RIDDLE&CODE, the Blockchain interface company, is a European start-up that builds hardware and software stacks bringing trusted identity to objects and people. Together with its tier one clients and partners, RIDDLE&CODE brings greater efficiency and new business models to financial markets, energy distribution, supply chain management and the Internet of Things.
Riddle & Code: www.riddleandcode.com
IOTA Foundation: www.iota.org
RIDDLE & CODE: Benjamin Schwarz, +33 674 787 954, email@example.com
IOTA Foundation: Cara Harbor, firstname.lastname@example.org