IOTA has collaborated with NEDO, which is the largest public management organization focused on developing the various technologies for bringing efficiency to the industrial, environmental, and energy areas.
IOTA Foundation has announced a deal with the Japanese Government to implement artificial intelligence, Blockchain, and DLT technology to the various projects in the industrial plants in Japan.
IOTA runs the IOTA blockchain that provides a scalable and open-source platform for seamless data and value transfer. The protocol works entirely without any fees and provides efficiency and scalability to the Blockchain.
IOTA Foundation Collaborates with NEDO To Bring AI and Blockchain-Powered Solutions to Industries
The project funded by the Japanese Government was initiated by the IMC and Best Materia, which are Japanese Maintenance companies.
IOTA would bring the DLT and artificial intelligence-based upon the Blockchain technology to the various public projects. The IOTA foundation would contribute its Tangle solution, which is a risk-based maintenance system for the petrochemicals, power, and oil plants. IOTA would get exposure to the large Japanese Infrastructure market, which is approx. 1,5 trillion USD in valuation.
About IOTA Tangle Platform
The cloud-based platform would be based on a decentralized database that uses the IOTA Tangle solution to remove the various vulnerabilities of the centralized databases and provide a seamless operation for the plants and industries. The platform would use the data available in the different industrial units recorded in the paper forms and then digitize it to provide easier maintenance. The maintenance companies would be able to share and use the data on the industrial supply chains with ease.
The Leaders Speak About the Project
Holger Kother,, the Director of partnerships at the IOTA Foundation, said that the decentralized and free DLT system is the core of the company’s vision, and they are honored to see that the protocol is used in this project.
The CEO of Best Materia said that the AI systems are much needed in Japan to support the businesses as the Japanese population is aging and there may be a lack of RBM consultants in the future; the IOTA Tangle solution would empower the company to process and store data regarding plants and work with AI systems accurately.
Dominik Schiener, the Chairman of IOTA, noted that the project intends to automate the various manual processes in the industries and oil refineries and use AI technology to use predictive maintenance and add efficiency to the public projects.