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 >

August 16 12:30 UTC Released

USHousing Starts Number MM

Actual

1.155 mln

Forecast

1.220 mln

Previous

1.215 mln

August 16 12:30 UTC Released

USBuild Permits: Change MM

Actual

-4.1 %

Forecast

Previous

9.2 %

August 16 15:30 UTC 138138m

BRForeign Exchange Flows*

Actual

Forecast

Previous

0.361 Bln USD

August 16 23:50 UTC 638638m

JPForeign Bond Investment

Actual

Forecast

Previous

1624.2 bln JPY

August 16 23:50 UTC 638638m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-37.7 bln JPY

August 16 23:50 UTC 638638m

JPExports YY*

Actual

Forecast

13.6 %

Previous

9.7 %

August 16 23:50 UTC 638638m

JPImports YY*

Actual

Forecast

17.0 %

Previous

15.5 %

August 16 23:50 UTC 638638m

JPTrade Balance Total Yen*

Actual

Forecast

392.0 bln JPY

Previous

439.9 bln JPY

August 17 01:30 UTC 738738m

AUFull Time Employment*

Actual

Forecast

Previous

62.0 k

August 17 01:30 UTC 738738m

AUEmployment*

Actual

Forecast

20.0 k

Previous

14.0 k

Close

Welcome to EconoTimes

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