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IOTA partners with FIWARE to expand Tangle technology

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  • The IOTA Foundation agreed upon a memorendum of knowing yesterday to cooperate with all the FIWARE Foundation in the future.
  • Particularly, the context-dependent data management is to be made more effective using the IOTA Tangle.

The IOTA Foundation had recently announced that it would take further steps towards Open Collaboration and thus decisively advance the further development of the IOTA ecosystem through the cooperation of various partners. Yesterday, the German start-up established a new relationship at the FIWARE summit in Berlin.

IOTA enters into partnership along with FIWARE

Upon 23 October 2019, the particular FIWARE Foundation together with IOTA signed a formal Memorendum of Understanding for further assistance. FIWARE is an open resource initiative defining a common set of standards for framework data management which assist in the development of Smart Solutions for different domains such as Smart Cities, Smart Industry, Smart Agrifood, and Smart Energy. The Foundation describes the core component, the Context Broker, the following:

The Context Broker is encircled by a suite of extra platform components, which may be supplying context data (from different sources such as a CRM system, social networks, mobile apps or even IoT sensors for example), supporting processing, analysis and visualization of data or even bringing support to information access control, publication or even monetization.

The FIWARE Foundation has made far-reaching progress in the field of smart solutions through widespread dissemination and acceptance throughout European countries. Even the European Commission (EC) has officially adopted the particular FIWARE Context Broker Technology as the central CEF foundation. At the beginning, the focus will be on developing context-dependent capabilities that will spread across the tangle by integrating functions of the tangle into the FIWARE Context Broker.

Among other things, these key competencies are required:

  • Context-aware data management on the Tangle
  • Scalable decentralization of FIWARE Context capabilities through the IOTA protocol
  • Increased interoperability with IoT sensor integrations in shared focal verticals
  • Reduction of Dynamic Clever Solution developments through mutual development
  • A greater security landscape for existing FIWARE solutions through decentralization and immutability
  • Large scale adoption potential through existing FIWARE integrations

Further fields of application of the technology and future goals

Both projects, IOTA and FIWARE, have a complex ecosystem that can be used within a wide variety of economic sectors. The particular CTO of the FIWARE Basis describes that the new technologies are also used, for example , in food production or animal welfare:

We are able to verify context data distributed to third-parties, and we can warrant the quality of data being stored in a distributed ledger. This really is crucial in applications such as those warranting the quality in food production, for example , the particular observation of certain guidelines of animal welfare upon farms, or when general public administrations strive to ensure transparency of their processes

FIWARE also announced at the summit that FIWARE will establish and put into action its own FIWARE Blockchain plus Data Economy Tech Roadmap. These developments will be the first milestone in the upcoming partnership and will initially extend to demo integrations through innovative mechanisms such as the FIWARE Lego World 2 . 0 Showcase.

IOTA affirms that the Foundation sees excellent synergy effects in shared research, as FIWARE made great progress in the data industry in recent years:

We believe this and the FIWARE approach embodies much of the core ideals that we believe in at the IOTA Foundation around fee-free options, near real-time data writing capabilities and global climbing. We look forward to bolstering their existing capabilities through the distinctive data and value systems offered by the IOTA protocol and bridging our existing ecosystems. Together we can work towards enabling the true open believe in layer for the Internet of Elements, and the internet that IOTA is capable of delivering.

IOTA is really a participant of the project +CityxChange, in which the development of a Smart City is to be researched. The additional findings from the forthcoming cooperation with FIWARE can also be used with this and other projects. IOTA therefore remains true to its brand new motto that IOTA displayed during the announcement of the collaboration with Linux, the Open Collaboration.

The cost of MIOTA is following the current market trend and is down to a cost of $0. 2542 within the past 24 hours.

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