IOTA Co-Founder Dominik Schiener to Speak on Distributed Ledger Technologies at FIWARE 7th Global Summit

BERLIN–October 23, 2019–The IOTA Foundation, a non-profit organization delivering the world’s first scalable, fee-less and decentralized distributed ledger technology, announced today that it will partner with FIWARE Foundation. Under this agreement, IOTA’s Tangle technology can serve as an immutable, trusted audit trail for relevant context data transactions in “Powered by FIWARE” architectures. This collaboration is an important joint step towards building the technology foundation for the smart solutions of the future.

The digital revolution is transforming how we live and conduct business. In the future, life will gravitate around the management and processing of context data which describes what is going on, where, when, why, and who is involved. Smart solutions continuously gather thousands of updates on context and process them to automate processes or bring support for smart decisions made by humans. For example, context is meaningful in energy plants to describe the status of the plant and predict energy demand, equally, it is important in a farm describing the state of the crops and soil, and in homes and smart cities where multiple devices and apps monitor the status of multiple systems. The capturing, management, processing, analysis and visualization of context data will be at the core of solutions for Smart Cities, Smart Industry, Smart Agrifood, Smart Energy any other “smart” domain.

FIWARE provides the components that ensure data flows from the device – where the context data is captured (the sensor) – to the point where it can be stored into IOTA’s distributed ledger (the Tangle), without human intervention. IOTA’s distributed ledger technology provides an immutable, trusted audit trail for all transactions and data, while still adhering to privacy requirements set forth by the data owners.

“By connecting FIWARE with IOTA, we can bring further trust to the processes being automated through any smart solution that is ‘Powered by FIWARE’,” says Ulrich Ahle, FIWARE Foundation CEO. “We can verify context data shared with third-parties, and we can warrant the quality of data being stored in a distributed ledger. This is crucial in applications like those warranting the quality in food production, for example, the observation of certain parameters of animal welfare on farms, or when public administrations strive to ensure transparency of their processes”, complemented Juanjo Hierro, FIWARE Foundation CTO.

FIWARE is the open source initiative that has driven the creation of a standard API for Context Information Management and provides a curated catalogue of open source components to assist organizations in architecting next-generation smart solutions. The FIWARE API is now a standard adopted by ETSI and, in addition, the FIWARE Context Broker technology has been selected to bring the basis for sharing right-time context data across Europe.

“FIWAREs Context Broker and standardized API allow for some truly unique capabilities for data validation and sharing from the edge. Combining their progress with the decentralized technologies offered by us at the IOTA Foundation is a natural and perfectly symbiotic partnership,” says Mathew Yarger, Head of Smart Cities, IOTA Foundation. “We look forward to harnessing our cohesive visions to offer some dynamic capabilities in smart solution areas such as Smart Cities, Digital Infrastructure, Agriculture, Transportation and Energy. Relationships like ours are what will propel autonomy and consensus on how to do it the right way forward and lead to informed and impactful solutions and policy.”

IOTA designed the Tangle to be the foundation of a global protocol for all connected things, effectively addressing the challenges of scalability, energy resource requirements, and data security, as well as transaction fees. The groundbreaking open-source architecture of the Tangle ecosystem is designed to become the catalyst for new economic systems and business models, enabling the convergence of key vertical industries like supply chain, mobility and automotive, eHealth, and smart energy/connected cities.

IOTA co-founder, Dominik Schiener will be discussing distributed ledger technologies at the 7th FIWARE Global Summit in Berlin on Oct. 23 at the CityCube Berlin. Come learn more about how the IOTA and FIWARE partnership supports the Summit’s theme: “Scale Up for a Real Smart Future.”