The IOTA Foundation has announced on December 3 its partnership with Riddle&Code, a blockchain hardware, and software company, to enable autonomous machine-to-machine transactions on the IOTA Tangle.
Secure Element’s Digital Identity
The integration of Riddle&Code’s to IoT devices extends trust to data sources and, therefore, enables the decision-making process based on IoT data. To obtain this, the technology utilizes only the designated data sources that play a role, by selecting the ones marked with a trusted identity.
It eliminates the “garbage in, garbage out” problem and paves the ground for automated M2M payments. Riddle&Code’s Secure Element microchip is tamper-proof and “enables to securely store the digital identity (private key) on any given device through the combination of hard- and software.”
The collaboration allows the creation of a fully trusted path from sensor to blockchain, which optimizes the functionality of existing technologies like QR codes on physical objects, that can be easily copied or cloned. Furthermore, this additional trust allows humans to grant more freedoms and autonomy to devices, such a self-driving car or industrial robots executing complicated tasks.
The Integrated Hardware Connects All IoT Devices to the IOTA Tangle
Any electronic device such as smart meters, that measure energy consumption, is compatible with the Secure Element hardware. IOTA Foundation and Riddle&Code will be demonstrating the integration of its solution, where participants will be able to see how a secure identity gets assigned to a device and records transactions on the IOTA Tangle.
Tom Fuerstner, founder and CTO of RIDDLE&CODE said:
“Real-world industrial and smart city environments require trusted, scalable and transparent environments from end-to-end to store data. By securely connecting any IoT sensor or machine to the IOTA Tangle with our crypto chips and middleware, we are delivering just that.”
Holger Köther, the IOTA Foundation’s director of partnerships, said:
“This integration with Riddle & Code brings to life the IOTA Foundation’s vision of enabling all connected devices. With this step, the prerequisites of trust are in place for industry to adopt highly innovative tech infrastructure for more efficient business processes.”