IOTA has partnered with the Norwegian Science and Technology University (NTNU) located in Trondheim and also teamed up with Nordic Semiconductor which specializes in low-power performance wireless devices. IOTA has also announced a partnership with DNB ASA in Norway- the country’s largest financial services group.
The collaboration with NTNU and Nordic Semiconductor is made to focus on integrating the Nordic Thingy:52, which is a multipurpose sense developer kit into the IOTA data marketplace. It connects to Bluetooth devices like phones, laptops, tablets and then sends data to an app and to the cloud.
The NTNU department houses 7 dedicated students in the informatics department to publish sensor data from the gizmo to the IOTA data marketplace by using IOTA currency to make transactions on the Tangle. This essentially transforms the device into a gateway between the sensor kit and data commerce. The integration of the IOTA data marketplace is the very first time the kit has been used for blockchain purposes. This is helpful for data exchange and selling data also.
For example, if a building wanted to get data on customers from a data agency, they can purchase the data easily through the device from the agency. It also allows the agency to sell their data to one more companies, researchers, analysis, or anyone who wants to buy it.
The DBN partnership extends IOTA’s reach to worldwide global markets. IOTA and DNB will explore the Tangle technology together in order to create “decentralized data marketplaces” according to Lasse Meholm- head of distributed ledger tech at DNB.
Physical devices that communicate and transact automatically will be expected to be adapted over the next two decades. Tangle allows ledger technology designed to power these devices with fast and free transactions for users.
“As Internet of Things (IoT) and Machine to Machine (M2M) communication and payment for microservices seem to escalate in the future, we think engaging in a Distributed Ledger based technology like IOTA gives us valuable experience and know-how on future revenue streams and business models. We are looking forward to dive into the IOTA space.”
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