Terepac Corporation, an Internet of Things (IoT) solutions company, has partnered with blockchain startup Nuco Inc to bring blockchain capabilities to the IoT through the launch of the Terepac Blockchain.
"Nuco is proud to power the Terepac Blockchain, a cutting edge IOT platform advancing Terepac's vision of a connected and voiced world," said Matt Spoke, Nuco CEO. "Blockchain technology is a fundamental milestone in unlocking the full promise of IOT. No other architecture is able to effectively administer the network scale unleashed by allowing every device its own voice."
According to the official release, the immediate benefits of the Terepac Blockchain include generating an immutable, tamper proof, record of all device interactions; offloading any trust requirements from among the parties interacting on the network, to the network itself which will facilitate frictionless onboarding of additional stakeholders onto the network without cumbersome process; and offering data redundancy and security as key platform features, removing any single points of failure from the architecture.
The first offering of the Terepac Blockchain’s is TB Data Reliance as a Service (TB DRaaS). Through this, any data set – Terepac-object specific, or otherwise, real time or cached – can be evaluated to establish, with zero doubt, its trustworthiness; creating a new, elevated standard of care for data reliance.
"The Nuco team brings to Terepac the deep subject matter expertise and cultural fit necessary to be the Terepac Blockchain engine of choice as Terepac establishes this worldwide forum for the soon to be billions of objects to connect, trust and transact", said Terepac CEO Ric Asselstine.
Outlining future course of action, the release said that the Terepac Blockchain is being built out to match IPV6's global capacity with a scalable administration solution, introduce blockchain based identity management and device authentication and lay the foundation for direct device to device transactions: authorized, executed and recorded by the Terepac Blockchain using Smart Contracts.
