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: “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.”
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
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.