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Newly Launched 'Trusted IoT Alliance' Unites the Industry to Further a Blockchain-based Internet of ThingsSANTA CLARA, Calif., Sept. 19, 2017 /PRNewswire/ -- Today, Bosch, BNY Mellon, Cisco, Gemalto, U.S. Bank along with Bitse, Chronicled, ConsenSys, Ledger, Skuchain, Slock.it, HCM International of Foxconn Group, IOTA, Oaken Innovations, Qtum, Chain of Things, Big Chain DB announced the official launch of the Trusted IoT Alliance, a group of companies united to catalyze the development of a blockchain-enabled, trusted Internet of Things (IoT). The mission of the Trusted IoT Alliance is to bring companies together to develop and set the standard for an open source blockchain protocol to support IoT technology in major industries worldwide. The Alliance offers an inclusive membership model and annual events to connect Fortune 5000 enterprises, software developers, and blockchain technology companies. Its membership is focused on 'working together to advance IoT and blockchain' by leading pilots, publishing open source code, and coordinating standards and reference architecture. Members of the group have already published a common API to register 'things' to both Hyperledger and Enterprise Ethereum blockchain networks. The Alliance plans to fund small grants to support open source development and is reviewing proposals from IoT and blockchain technologists. Key Facts:
Executive quotes from the executive director and operating board member companies on the vision and mission of the Trusted IoT Alliance: "A big part of realizing the potential of blockchain and distributed ledger technologies will be linking these secure virtual systems to secure physical IoT systems. The Alliance's vision is to support the creation of a secure, scalable, interoperable, and trusted IoT ecosystem and to become a key forum for enabling rapid development of mature IoT enabled blockchain use cases and specifications." Zaki Manian, Executive Director, Trusted IoT Alliance "For us, technologies such as blockchain are strategically very important. They allow consumers to securely share data online without involving a third party. Consumers can conclude agreements and contracts online and transact payments securely, and the technologies ensure the data is anonymized. A blockchain is based on a kind of decentralized database, which distributes information entered into it across a network of computers. This gives protection against falsification of data, and consumers are less dependent on one single computing center. Together with our partners in the Trusted IoT Alliance, we will make new blockchain solutions ready for the market, and in this way help the IoT become more successful." Dr. Rainer Kallenbach, CEO, Bosch Software Innovations "The world is beginning to recognize the potential of blockchain technology to fundamentally reshape the way business is done globally - and we're still just scratching the surface. At this early stage we think it's vitally important to establish an inclusive framework that ensures openness, trust, and interoperability among the many parties, in both the public and private sectors, that we believe will begin to adopt blockchain technology over the next several years. Chronicled is proud to be a founding member of the Trusted IoT Alliance and we look forward to working with existing members, and welcoming new partners, in continuing to build on this foundation." Ryan Orr, CEO, Chronicled, Inc "We are proud to be a founding member of the Trusted IoT Alliance and partnering with other leading companies to drive and support enterprise standards at the intersection of blockchain and IoT. Blockchain and IoT together create a "sweet spot" that form an Internet of Value which allows secure value flow across a range of industry segments. The Alliance is promoting interoperability which is a key factor that drives broad-scale technology adoption. This consortium will assist innovators across industries to develop transformative applications." Hilton Romanski, Senior Vice President, Cisco "We see blockchain as a powerful technology to simplify transactions between devices and individuals for supply chain operations, government services, IoT, banking and payments and healthcare. Alleviating the dependence on a central third party removes the ongoing issue of a "single point of failure." As governments and businesses move more activities online, blockchain provides a truthful understanding of transactions where many people and departments are involved. However, for blockchain-based systems and projects to be successful, security needs to be at its core to protect data, devices and users. The Trusted IoT Alliance is a collaborative setting for companies to address these challenges and opportunities and work towards the common goal of a secure and convenient connected world." Todd Moore, Senior Vice President of Encryption Products, Gemalto A list of founding member organizations, officers in the foundation, and further information about the small grant program is available on the Trusted IoT Alliance website at: http://trustediot.org About the Trusted IoT Alliance For further information contact: Trusted IoT Alliance Email: [email protected] View original content:http://www.prnewswire.com/news-releases/newly-launched-trusted-iot-alliance-unites-the-industry-to-further-a-blockchain-based-internet-of-things-300521935.html SOURCE Trusted IoT Alliance |