Embedded Downloads welcomed the news earlier this week that Microsoft, Fujitsu and twenty other companies launched a public accessible IOT data marketplace with Berlin-based crypto startup IOTA.
As reported by Reuters – Click here to read the full article
According to a spokesperson for Embedded Downloads, it was great news that large enterprises are seeing the potential of blockchain and IOT [Internet of Things] integration.
The company announced earlier this week that the Limerick Blockchain Mastermind will have as the discussion topic at its next meeting at the Bank Of Ireland, Limerick University Campus – “Blockchain and IOT a match made in heaven.”
It could indeed be a match made in heaven as analysts predict that business-to-business spending on IoT technologies and solutions will reach $267 billion by 2020 as more and more devices will create a near-endless stream of data.
The Limerick Blockchain Mastermind aims to bring blockchain companies and industry leaders together to explore the opportunities created by this new technology.
Embedded Downloads has been a leader in IOT / Blockchain development and is the developers of the world’s first blockchain smartphone and crypto communicator – The BitVault®. The unique blockchain security features and military grade encryption of the BitVault® makes it an attractive product to large enterprises and the company is currently in talks with several customers in the DefTech [Defence Technology] and Fintech [Financial Technology] sectors.
To facilitate the encryption in its product the company developed a cryptocurrency for use in its hardware and software encryption products, EOT [ Encryption of Things ]. EOT is a blockchain based decentralized cryptocurrency with all the features of Bitcoin but with a few small modifications to make it suitable for use in encryption.
More information on EOT: – http://encryptionofthings.org/
Embedded Downloads also mentioned that the company is developing hardware and software EOT toolkits that would enable manufacturers of IOT devices to integrate EOT encryption into their devices.
The company noted that the entry of Microsoft and other large organisations into this market shows the amazing potential and stressed its commitment to remain the pioneer and leader in this sector.
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