September 22, 2020

IOTA and Zühlke develop service for machine manufacturers

IOTA and Zühlke develop service for machine manufacturers

Blockchain startup IOTA Foundation has entered into a partnership agreement with a European provider of innovative services Zühlke. In the framework of cooperation, enterprises will develop a service for manufacturers of machinery.

Zühlke employee Jens von der Brehli stated thatThe company’s specialists plan to integrate the TOT decentralized platform developed by IOTA into Zühlke software. Thanks to this, the company's customers will have access to micro-transactions. According to Brela, Zühlke will be able to create new models for the commercialization of machinery, since the IOTA blockchain protocol allows you to transfer money and transfer data at a low cost.

Programmers want to develop several modelsconcepts of “machine as a service” (machine-as-a-service), which include various parameters, for example, payment per meter or minute. Information about the operation of the equipment will be stored in encrypted form in a decentralized network. IOTA co-founder Dominic Schiner believes that using the “machine as a service” service will create an additional source of income for enterprises that lease machinery. And tenants will be able to reduce costs, because they will only pay for using the device.

The project is mainly aimed at Germancompanies, since most of the offices of IOTA and Zühlke are located in Germany. However, Zühlke is actively developing its business in the Asian and British markets. In addition, the company intends to use IOTA developments to create services in the financial sector, product supply chain, healthcare and insurance services.