Blockchain startup IOTA announced the launch of a new platform for monetization of data on the basis of own technology of the distributed register Les.
The IOTA initiative is to create a blockchain-data marketplace for Internet of things (IoT) has supported more than 20 organisations in the world including Microsoft, Fujitsu, Bosch, Deutsche Bank, Telekom and other companies.
IOTA has created dramatically different from the standard blockchain technology method, which is called Tangle. The co-founders of IOTA Dominic Shiner and David Sonstebo declare that in comparison with bloccano, Tangle offers free transactions and better scalability.
New public marketplace will allow you to use connected to the IoT devices for purchase, sale and transfer of datasets, which often remain unclaimed. It is expected that these connected devices can be useful and valuable for companies working in the field of Internet of things, machine learning, predictive Analytics, etc.
Demo on the market will work until January and will allow companies to participate in the innovation project. IOTA promises to inform interested parties about changes in the project at forums and blogs.
Co-founder of IOTA David Sonstebo said:
“The goal of the project is to allow the joining of the economy of data in B2B market and to attract researchers and even fans. A feature of this fine-meshed system is that we do not know who will have access to the platform. However, we believe that this is a completely new paradigm.”
The company hopes that the technology Tangle will enable stakeholders to share and make the monetization of their data in a safe way.