IOTA announces a new partnership with FIRWARE Foundation to construct digital economy blockchain solutions
- The IOTA Foundation enters into a working partnership with FIWARE Foundation.
- Both companies will be collaborating to develop the building blocks for the smart solutions of the future.
The IOTA Foundation has announced a new partnership with FIWARE Foundation. The partnership will see IOTA’s Tangle leveraged as an immutable, verifiable, and trusted record of data to find relevant context data transactions in “Powered by FIWARE” architectures.
As per the press release, IOTA has joined forces with open-source project FIWARE to develop the building blocks for the smart solutions of the future. Sources close to the matter detailed that the newly forged partnership will be bridging the gap between data flows from the device to an immutable repository of data.
The CTO of FIWARE, Juanjo Hierro commented:
We can verify context data shared with third parties, and we can warrant the quality of data being stored in a distributed ledger. This is crucial in applications like those warranting the quality in food production, for example, the observation of certain parameters of animal welfare on farms, or when public administrations strive to ensure transparency of their processes.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
