October 3, 2018, IoTeX announced joining the Trusted IoT Alliance.
At the Trusted IoT Alliance summit in San Carlos, CA on September 5th, IoTeX’s Xinxin Fan and Larry Pang delivered a keynote speech on the IoT platform landscape and networked with representatives from the blockchain and IoT communities.
Trusted IoT Alliance, a consortium of blockchain technology companies and enterprises (e.g., Bosch, Cisco, Gemalto) focused on leveraging blockchain infrastructure to secure and scale IoT ecosystems.
“The Trusted IoT Alliance includes innovative startups and enterprises at the forefront of blockchain and IoT,” says Zaki Manian, Executive Director of the Trusted IoT Alliance. “Our newest alliance member, IoTeX, brings valuable academic and industry experience, as well as deep expertise in infrastructure security and data privacy — we are excited to have them onboard.”
The Alliance meets in-person on a quarterly basis and is currently developing several industrial proofs of concept, to which IoTeX will contribute technical and academic expertise and resources.
The executive board of the Trusted IoT Alliance includes president Dirk Slama (chief alliance officer of Bosch Software Innovations), chairman Anoop Nannra (Cisco), secretary Joe Pindar (Gemalto), and treasurer David Aho (Chronicled). Founding and consortium members include Bosch, Cisco, Vechain, Bitse, Foxconn, Ledger, Skuchain, Qtum, Elastos, ConsenSys, IOTA and other organizations.
- Fast, secure connectivity for devices thanks to uniform standards
- Greater trust in the IoT, less dependence on major platform providers
These tools and standards will allow enterprises to represent physical world “things” and “event logs” on a decentralized blockchain system.
The group sees potential to automate business logic through smart contracts and building a thriving Machine-2-Machine economy.
The Alliance is blockchain agnostic and will support integration across any open source enterprise blockchain or distributed ledger technology platform that has potential to become a backend for widespread commercial and industrial adoption.
“For us, blockchain and its related technologies are strategically very important,” said the Bosch CEO Dr. Volkmar Denner.
A blockchain is based on a kind of decentralized database, which distributes information entered into it across thousands of computers. This makes data and data exchange in general thus more secure. In addition, users are less dependent on computing centers of major platform providers
Bosch is already researching many possible applications. One project at an advanced stage concerns odometer fraud in motor vehicles.
The mission of the Trusted IoT Alliance is to bring companies together to develop and set the standard for an open source blockchain protocol to support IoT technology in major industries worldwide.
“We are proud to be a founding member of the Trusted IoT Alliance and partnering with other leading companies to drive and support enterprise standards at the intersection of blockchain and IoT. Blockchain and IoT together create a “sweet spot” that form an Internet of Value which allows secure value flow across a range of industry segments. The Alliance is promoting interoperability which is a key factor that drives broad-scale technology adoption. This consortium will assist innovators across industries to develop transformative applications.” Hilton Romanski, Senior Vice President, Cisco
Cisco is working with a number of industry and ecosystem partners to develop standards and tools for blockchain technology to reach its full potential in the enterprise.
Cisco is leading industry adoption efforts thorough the Trusted IoT Alliance, which is platform independent and focuses specifically on developing an interoperability framework for digitized physical assets and their smart contract libraries that live on blockchain networks.
October 29, 2018 in Singapore on Cisco & EDB Blockchain Summit Qevan Guo (co-founder IoTeX) represented report: «Barriers to Adoption - A Trusted IOT Alliance Perspective»
Despite the fact that these giants are very slow at every turn. A completely different pace from the fact that world cryptocurrency projects are in the cryptographic world. The IoTeX team will be pleased to take part in joint projects.
"We would be glad to work with Cisco, Bosch, Siemens, Samsung and so on who has already well-established in IoT industry, and indeed we are already in talk with some of them, and will start with POCs (Proofs of concepts) and pilots, which will be pushed to production if goes really well" - says Qevan Guo
As teams will be continuing to have more productive meetings and negotiations, IoTeX will be able to propose solutions for enterprise giants such as Cisco, in order to find grounds for collaboration on valuable services create together a service that will contribute, either to create a useful product, or to solve existing problems in their scenarios.
Therefore, joining the Trusted IoT Alliance opens up great opportunities for demonstrating IoTeX experience, developments and products.