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EVRYTHNG, IOTA Partner on Distributed Ledger Technology-Based IoT Solutions

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A recent press release reports, “EVRYTHNG, the IoT platform that activates every consumer product to make it intelligent, interactive and trackable, today announced the expansion of its EVRYTHNG Blockchain Integration Hub to include integrations with IOTA, a non-profit foundation focused on distributed ledger technology (DLT) and permissionless ecosystem development. As a result of this partnership, consumer product brands now have an easy way to rapidly test, scale and deploy IoT applications to deliver transparency and provenance to customers while sharing real-time data between supply chain partners.”

Dominique Guinard, Co-founder and CTO of EVRYTHNG, commented, “We are celebrating the one-year anniversary of our EVRYTHNG Blockchain Integration Hub… Over the past year, not only have we created powerful integrations with some of the most recognized blockchains in the world including, OriginTrail, Tierion, BLOCKv, Bitcoin and Ethereum but, we’ve launched real-world applications with the technology. This is why we are so excited to announce a strategic partnership with IOTA, a totally different kind of distributed ledger technology, specifically targeted at the IoT industry — opening new opportunities for consumer product brands.”

The release adds, “According to a recent study by Deloitte, 42 percent of consumer products and manufacturing executives plan to invest at least $5 million in blockchain technology over the next year. IoT applications will account for a significant percentage of this investment in the form of: (1) consumer – improving and protecting the consumer experience; (2) supply-chain – improving process efficiencies across the supply chain. While the consumer products industry is well positioned to benefit from the opportunities blockchain and DLT afford, industry first-movers must first overcome several challenges: (1) high costs associated with testing blockchain/DLT platforms to determine the – best fit and solution maturity; (2) complexity in implementation; and (3) limited inhouse expertise.”

Read more at PRweb.

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