IOTA is a German cryptocurrency that wants to drive the Internet of Things decisively with the help of Tangle technology. The IOTA Foundation is already in cooperation with companies like Bosch or Volkswagen. The newest partner is a well-known hardware and software manufacturer.
Hardware maker RIDDLE & CODE announced yesterday that IOTA’s Distributed Ledger will be deployed in its new Internet of Things (IOT) product line. Both companies want to demonstrate that by integrating IOTA’s Tangle, autonomous machine-to-machine transactions can be handled completely independently.
— RIDDLE&CODE (@riddleandcode) December 3, 2018
The hardware provided by RIDDLE & CODE creates a secure environment for business processes that only allows reliable data from trusted sources. Tom Fuerstner, founder and current CTO of RIDDLE & CODE, said that this collaboration will allow very complex use cases in a wide range of industries:
“Industrial and intelligent real-world city environments require trusted, scalable, and transparent environments, from end-to-end to data storage. By connecting an IoT sensor or machine securely to the IOTA Tangle with our crypto chips and middleware, we deliver just that.”
New chips, more Functionality
Previously, industrial IOTA projects could only use distributed ledgers to trust data processing and storage. The new RIDDLE & CODE crypto-chip gives devices a new identity, making it a trusted data source. This easily and effectively differentiates between trusted data sources and external sources, allowing only information required by the process. This step is intended to give end users the confidence to hire a car or an industrial robot to perform autonomous and independent tasks, including controlling energy consumption or ordering parts delivered “just-in-time”.
Holger Köther, Director of Cooperation at the IOTA Foundation, explains that this partnership significantly expands the functionality of possible connected devices to the IOTA ecosystem:
“Each device, such as an intelligent electricity meter, can be connected to the ecosystem, for example to measure energy consumption. The secure element provides an identity that is used to write transactions to the IOTA tangle.”