IOTA and eCl@ss Launch the Industry Marketplace Hackathon

We are happy to announce today a development contest based on the Industry Marketplace on Hackster.io.

After our first two challenges introducing IOTA and its abilities, we are now stepping up the challenges to introduce the concept of marketplaces. We challenge developers to create innovative solutions on top of the Industry Marketplace, combining Hardware, IOTA and eCl@ss attribute standards.

We invite everyone to develop an open-source solution, using the Industry Marketplace, to create value, and explore new business models and/or building blocks in response to the contest themes.

The recently launched Industry Marketplace is a vendor-neutral marketplace for humans and machines to buy and sell services, data, and goods.

The Industry Marketplace is an autonomous and decentralized platform. It combines the IOTA Tangle with standardized machine-readable contracts and an integrated decentralized identity system to enable actors to tender, bid, and pay for services.

The marketplace masters the challenge of interoperability by applying different industry standards. Within a marketplace scenario, it is crucial that all participants communicate in a precise and distinct language. Humans might understand the essentials of a message without speaking the same language due to their imagination and intelligence. However, machines are required to communicate in the exact same language in order to understand each other. To provide this, the Industry Marketplace follows the specifications of the Industry 4.0 language, which defines a clear order of exchanged messages within a bidding process as well as an explicit structure of each message.

The Industry Marketplace showcases IOTA’s vision of the Internet of Things and how “things” can act in their role as economic agents for human, organization and machine collaboration in a decentralized manner. The framework itself can be leveraged to build, expand upon, or be integrated with existing applications.

For the Economy of Things Challenge, we want you to demonstrate how things can negotiate with each other utilizing the Industry Marketplace as the base framework.

Since the use cases are by far not limited to industries, implementations within different scenarios such as mobility or energy are very much appreciated.

One way to get started is to think about your favorite uber-for-x use case and implement a demonstration of how this marketplace would work using IOTA and standardized identifiers from eCl@ass.

The second challenge revolves around endowing devices with intelligence. Within our online demo of the Industry Marketplace, the user decides whether a Service Provider is able to provide a service.

However, the Industry Marketplace also has participants that act without any user input. In this case, the device itself has to check whether it is capable to provide a service/good with request properties before sending out a proposal.

The objective of the eCl@ss challenge is to build an autonomous decision-making process for devices that can supply multiple goods & services. We challenge you to build a decision-making process for a device to automatically choose the best Service Requests based on matching eCl@ass capabilities. Once the best is chosen a proposal should automatically be sent out to the requesting device.

Apply to the Industry Marketplace Hackathon today and be part of the innovators that will enable the Industry 4.0 vision!