EVRYTHNG, an Internet of Thing (IoT) startup, in a press release on 17 announced a partnership with IOTA, a distributed ledger technology company, to merge their IoT technology with blockchain in order to provide more scalability and transparency for end-user goods supply chains.
As confirmed in the official press release, EVRYTHNG noted that its priority is to implement a more standardized DLT and IoT technology for a unique, responsive, and trackable identity for consumer good. This will supposedly reflect greater transparency for both consumers and supply chain stakeholders.
The new partnership will see the IOTA blockchain protocol dubbed “Tangle” rightly included on EVRYTHNG’s Blockchain Integration Hub.
According to the announcement, IOTA’s Tangle is said to be quite different from the regular blockchain system, based on the fact that it doesn’t operate with mining or “blocks.” However, it was developed upon a topologically ordered system known as “directed acyclic graph” (DAG), wherein different transactions in the network will run on a separate chain simultaneously.
Both Partners disclosed that the current supply chain for consumer products computably lacked transparency and trust, knowing that centralized intermediaries can tamper with documentation on products’ sourcing and provenance.
The collaboration of IOTA’s technology with EVRYTHNG Blockchain Integration Hub is a bid by both parties to address this challenge, and probably this effort will leverage IOTA’s decentralized and trusted environment and other services.
As noted by the co-founder and CTO of EVRYTHNG, Dominique Guinard, he confirmed that IOTA’s permissionless and trusted IoT-focused protocol Tangle would trigger more interoperability of devices and products at scale.
An accompanying post published by IOTA detailed further the approaches the two partners was working for, wherein data will be attached to products’ digital identity, and at the same time hash and upload them on the Iota’s Tangle.
Interestingly, this entails that consumers can scan a digitized product even with a mobile phone to assess relevant product data before purchase.
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