The IOTA Foundation has signed a strategic agreement with the South Korean Observer foundation and IOTA solution partner Tanglehub to jointly apply for smart city projects together in South Korea, South East Asia and Europe starting in 2021.
With IOTA being developed open-source, by the non-for-profit IOTA Foundation, Observer's previous experience with Smart City project applications and Tanglehub's extensive experience with IOTA, we are looking forward to enabling Smart Cities in ways that weren’t possible before. They can be designed and built from the ground up: interconnected, sustainable and adaptable to everyone’s needs.
Tae IL Cho, CEO, Observer Foundation, has commented: “IOTA has a broad range of applications, to cover a multitude of smart city relevant use-cases with a single protocol. In particular, we want to support the design and implementation of a service-oriented ecosystem by discovering innovative services that can utilize distributed ID (DID) services such as objects, data, and contracts, as well as new services that link and utilize DLT/blockchain services (identity verification, logistics, payment, etc.) built through the Blockchain Free Regulatory Zone project.”
Holger Köther, Director Partnerships, IOTA Foundation: “As the Observer Foundation is committed to collaborating with the IOTA Foundation on South Korean projects this will also be a vice versa commitment. The Observer Foundation will be introduced into smart city projects where IOTA plays a large role. With Tanglehub’s expertise, we have already started first tests to integrate IOTA into Observers environmental stations, securing data directly at the source.”
Dennis Schouten, CEO, Tanglehub: “We have been actively developing with IOTA since its inception and are convinced of its potential to provide a global secure and scalable infrastructure for data, micropayments, digital twins and many other use-cases. With the upcoming version of the protocol and additional standardizations, IOTA will provide the basis to develop production-ready solutions. We are excited to work with the IOTA Foundation and the Observer Foundation in smart city projects.”
About the IOTA Foundation
IOTA is a global not-for-profit foundation incorporated and headquartered in Germany. The IOTA Foundation's mission is to support the research and development of new distributed ledger technologies (DLT), including the IOTA Tangle. The Foundation encourages the education and adoption of distributed ledger technologies through the creation of ecosystems and the standardization of these new protocols.
The IOTA Tangle moves beyond blockchain by providing the world's first scalable, feeless and fully-decentralized distributed ledger technology. The Tangle uses its own unique technology to solve three fundamental problems with blockchain technology: high fees, scaling and centralization. It is an open-source protocol connecting the human economy with the machine economy by facilitating novel Machine-to-Machine (M2M) interactions, including secure data transfer, fee-less micropayments, and secure access control for devices.
About the Observer Foundation
Observer foundation created an innovative platform where individuals and private firms trade daily weather data. Anyone in the world can trade weather data that is collected by smartphones, mini weather stations or automobiles and receive Observer token as reward. The quality of the collected data is verified through big data analysis technology, and the details are recorded in the blockchain. This allows the Observer to create high-resolution weather data that has never been available before.
Observer foundation’s mini weather stations are currently deployed in many cities in South Korea including smart cities namely Jeju, Siheung, etc. Observer Foundation has also contracted with Seven Eleven South Korea for a nationwide installation of mini weather stations, not to mention Seven Eleven Vietnam as well.
Tanglehub, an official IOTA solution partner utilizes distributed ledger technology that will boost Internet of Things (IoT) data security and privacy. Besides, Tanglehub offers innovative solutions to future-oriented organizations that prepare their IoT into a secure and controllable platform.
Tanglehub provides organizations the competitive edge necessary in the fast-paced world of Internet of Things.