[email protected] partners with the IOTA Foundation to standardize payments and data transmission for Internet of Things

The aim is for their communication standard to be used across all connected devices in the IoT

[email protected] and IOTA will also explore IOTA’s Data Marketplace and how it can be used with [email protected]’ International Registration Data Identifier or IRDI system to buy product data across different businesses, IT systems, and industries

The IOTA Foundation has made another collaboration to focus on distributed ledger technology or DLT and permissionless ecosystem development. They have recently announced a new partnership with [email protected] to create a standardized communication protocol which will be used across all connected devices in the Internet of Things or IoT.

The future is being created

IOTA is a non-profit foundation registered and incorporated in Germany. Their goal is to upkeep the development as well as standardization of new distributed ledger technologies or DLTs – primarily the IOTA Tangle. As for [email protected], they are the only ISO/IEC-compliant industry standard that’s internationally established. Thus, they are the worldwide reference-data standard when it comes to the classification of products and services.

Through this strategic alliance, a new milestone has been made in the IOTA Foundation’s development of Industry 4.0. In a statement by Thorsten Kroke, general manager at [email protected], he said:

“We look forward to collaborating with IOTA towards the development of new standards of device communication and complex payment processes in the Internet of Things. In conjunction with [email protected], the IOTA Tangle offers a clear and standardized description for IoT devices and products, meaning that IOTA and [email protected] can be used together for any industry transaction.”

With [email protected]’ role in the partnership, they managed to produce standardized classification and description of connected devices. It also has a worldwide consortium of leading companies. These companies include Siemens, Staples, Lufthansa, PBS Network and a lot more. It is hoped their standardized catalogue can help companies to easily introduce trusted identification and simplified communication from one IoT device to another.

This also simultaneously lowers the costs used to manage devices. The implementation of a universal standard between devices will enable organizations to create new methods of using machine-to-machine payments.

Strong confidence from Bosch

Even the wholly owned subsidiary of the Bosch Group has released a statement about this partnership. Their senior expert, Gerhard Treitinger, said:

“After we first learned of IOTA and its data marketplace, the idea of a joint implementation between [email protected] and IOTA was a natural fit. Both [email protected] and IOTA are key players in the development of the industrial IoT and digitized world, as the leading standard in their respective industries. By exploring several use cases, we found that a cooperation between [email protected] and IOTA would be a win-win situation for both.”

Both [email protected] and IOTA will soon explore IOTA’s Data Marketplace and how it can be used with [email protected]’ International Registration Data Identifier or IRDI system to buy product data across different businesses, IT systems, and industries. This system uses unique identifiers for the devices in order to securely share data. Moreover, it is based on international ISO standards.

According to Holger Köther, the director of partnerships at the IOTA Foundation, they are excited to partner with such a strong organization: