Decentralized P2P sharing protocol Streamr announced it has joined the Trusted IoT Alliance, an open source software consortium aiming to create a secure, scalable, interoperable and trusted IoT ecosystem.
The organization was founded by companies including Bosch, BNY Mellon, Cisco, Gemalto and U.S. Bank.
“The exponential growth of IoT and the ubiquity of connected devices brings unparalleled value to data, fully transforming the service sector, the supply chain and in turn the modern economy,” Streamr cofounder and CEO Henri Pihkala said.
“Yet the rapid nature of that technological evolution has come at the cost of our security and freedom, a cost that has not gone unnoticed by industry leaders.”
Along with Nikke Nylund and Risto Karjalainen, Mr. Pihkala founded Streamr Network AG early this year to offer scalable, low-latency and secure data delivery. It provides a new way for machines and people to trade data on a decentralized P2P network.
“Connecting with some of the best minds in the industry helps us set the standard of robust, secure, and persistent data sharing that we so unquestionably deserve,” Mr. Pihkala said. “The Trusted IoT Alliance is positioned to accelerate the emergence and widespread adoption of IoT enabled blockchain platforms.”
The Trusted IoT Alliance was formally launched in September with the goal of leveraging blockchain and other security technologies to introduce trust into IoT and produce use cases delivering real business value and capitalize on blockchain technology.
Zaki Manian, the Executive Director of Trusted IoT Alliance, said: “Data Marketplaces are one of many critical applications that are emerging at the intersection of IoT and Blockchain,” Trusted IoT Alliance executive director Zaki Manian said. “It was clear from the beginning of our discussions with the Streamr team that their cutting-edge platform aligns perfectly with our vision not only for the future of the Alliance but for the industry as a whole.”
The founding members of the Trusted IoT Alliance include Consensys, BitSE, Chronicled, Qtum, BigchainDB, Ledger, slock.it, Skuchain, and IOTA.