IOTA is working with The Linux Foundation and Dell Technologies on an open-source system for digital trust, data privacy and confidence in data. This open system is build on decentralized technologies. As a result all parties involved need to trust data provided by other parties. They announced the open-source collaboration Project Alvarium in a press release.
There are many electronic systems in the market that all function separated from each other. Think about fields like mobility, energy, construction and home electronics. There are smart cities, green energy, smart mobility, but none of these systems work together. According to IOTA there’s a need for change. Project Alvarium will make many more systems communicate, creating an even better Internet-of-Things.
Data must be open, but secure, with rules around its use and access through a common open framework.IOTA Foundation, blog post, (October 28th 2019)
Data Confidence Fabric
Project Alvarium isn’t only about sharing data, but also about adding value and trust. People or companies interacting with data need to know where it’s coming from and whether the data is trustworthy. For example, a supply chain need to provide accurate information about composition of certain chemicals, while location data needs to be acquired at the right location under the right circumstances. Data Confidence Fabric (DCF) needs to make sure that all data is trustworthy and traceable.
By creating the industry’s first method to deliver data with measurable confidence, we will fundamentally change how individuals, businesses, non-profit organizations and government entities alike manage, share and monetize their data efficiently at scale, all while maintaining privacy based on terms they establish.Jason Shepherd, Edge and IoT CTO, Dell Technologies (October 28th 2019)
IOTA working hard across industries
The partnership with the Linux Foundation and Dell Technologies is already pretty big, but the IOTA Foundation is doing a lot more. In September the foundation announced a marketplace for industrial companies. This marketplace needs to automate buying and selling of industrial goods and services. For example, resources can automatically be ordered at a supplier when needed.
This concept is being expanded into a collaboration with the European Commission and seven cities split over several European countries. Together with IOTA and local partners these cities will become smart cities. Before 2022 these cities need to become self-sustaining, creating enough green energy to take care of themselves. For example, energy generated from solar panels can be sold between parties, making sure that energy is never wasted.
Also published on Medium.