'Trusted IoT Alliance' Launches Effort to Establish a Blockchain-based Internet of Things for the Supply Chain

The mission of the Trusted IoT Alliance is to bring companies together to develop and set the standard for an open source blockchain protocol to support IoT technology in major industries worldwide. The specific purpose of the Supply Chain Working Group is to establish standards by which blockchain may serve as the security protocol for IoT devices in the supply chain context.

Skuchain has been working with its customers and partners to build frameworks for integrating sensor data with the blockchain. We do that using Smart IoT Contracts for the supply chain, which bring interoperability, scalability and identity to the signals, making them truly actionable. We began with the first Letter of Credit transaction on the blockchain, in which Wells Fargo and Commonwealth Bank of Australia used GPS sensors attached to cargo to gain additional insight into the trade.

Blockchain-based open protocols can standardize the use of GPS, RFID, temperature, humidity and other common sensors in the assembly line in a way that allows their data to securely automate actions. Logistics and transportation will also realize enormous benefits from using open protocols to integrate existing industry IoT tools with the blockchain for even greater visibility.

The Supply Chain Working Group will allow Skuchain's existing Smart IoT Contract effort to work with the wider Trusted IoT Alliance to foster the development of intellectual property and open-source tools and standards that support trusted digital identities for IoT-connected products. Specifically, the Supply Chain Working Group will lead pilots, publish open source code, and coordinate standards and reference architecture.