Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Newly formed blockchain-IoT consortium launches common registration protocol

Skuchain and Chronicled announced that it has partnered with other members of Blockchain-IOT consortium including Bosch, BNY Mellon, Filament, and has created an API that supports Ethereum, Quorum, and Hyperledger blockchain implementations.

This January saw the formation of a group of five enterprises and six startups that gathered to work on the advancement of the intersection of blockchain and the Internet of Things (IoT). These members are also a part of the API working group.

The common registration protocol being developed enables users to register multiple kinds of weaker identities like serial numbers, QR codes, UPC codes, among others and binds them to stronger cryptographic identities. These identities are linked immutable across both physical and digital worlds using blockchain technology.

“In the days of the railroad industry, there was a need to create standard dimensions for the gauge of the rail and width between the rails. Similarly, in the IoT and blockchain space, by creating standards around basic functions, such as registering cryptographic public keys to blockchain systems for 'thing' identity verification, we can set a strong foundation for the growth of this exciting new industry,” Maurizio Greco, CTO of Chronicled said.

The members, along with the support of the protocol are heading towards with various proofs of concept projects at the intersection of blockchain and IoT. This supports the blockchain and IoT ecosystems and advances progress in these sectors.

With the upcoming proofs of concept, Cisco is using the protocol to register device identities and associated data. On the other hand, Bosch has completed work to register automobile odometer readings on the blockchain to curb fraud. Also, Chronicled has completed a PoC where pharmaceutical serializations and temperature tracking data are logged on the blockchain.

“We are very excited to support the linkage of IoT technologies and blockchain technologies, and look forward to building many use cases with clients and partners,” Stephan Tual, COO at Slock.it, a German-based technology company, stated.

The launch of the protocol brings industry and commerce legacy systems one step closer to secure interactions with cryptographic networks.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

June 28 15:30 UTC Released

BRForeign Exchange Flows*

Actual

-5.279 bln

Forecast

Previous

-3.401 bln

June 28 14:30 UTC Released

BRBank Lending MM*

Actual

-0.2 %

Forecast

Previous

-0.2 %

June 28 19:00 UTC 195195m

ARBank Lending MM*

Actual

Forecast

1.9 %

Previous

0.8 %

June 28 21:00 UTC 315315m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

82 bln

June 28 23:50 UTC 485485m

JPForeign Bond Investment

Actual

Forecast

2.6 bln JPY

Previous

3.2 bln JPY

June 28 23:50 UTC 485485m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 485485m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-331.6 bln JPY

June 28 23:50 UTC 485485m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 485485m

DERetail Sales YY

Actual

Forecast

2.6 %

Previous

3.2 %

June 28 23:50 UTC 485485m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.