- The IOTA foundation partners with Zühlke, a collaboration that will see both companies focus on the creation of machine-to-machine technology innovation in the manufacturing and machinery sectors
- IOTA’s Tangle is the common factor for its recent partnerships
On October 1, IOTA foundation announced a partnership with Zühlke, a startup that provides business expertise as well as innovation projects technology including financially successful products, services, and business models for today’s digital world.
The partnership is expected to focus on positively impacting the manufacturing and machinery sector by providing machine-to-machine technology innovation.
Details of the Partnership
In this partnership, Zühlke is expected to develop new models of machine usage and commercialization. The company will see a substantial amount of its capital investment devoted towards the creation of a machinery-as-a-service model expected to offer a cost-effective as well as user-specific pay-per-use systems. The innovation will enable businesses to only cater to their use of capital-intensive machinery.
Concerning the partnership as would see the creation of machine-to-machine technology innovation in the manufacturing and machinery sectors, IOTA Foundation co-founder and co-chair, Dominik Schiener stated:
“For the heavy equipment sector, this innovation will deliver a new revenue channel by allowing them to ‘rent’ their equipment to enterprises on the pay-per-use model when not in use.”
The pay-per-use innovation would allow enterprises to access beneficial heavy machinery in a timely and cost-effective manner.
Zühlke will incorporate IOTA’s decentralized, feeless Tangle distributed ledger technology into the machine-to-machine technology. Therefore, it will offer the manufacturing industry a cost and performance-effective technology.
This innovation will indeed allow enterprises to access ridiculously expensive equipment at a much-reduced cost. This fact is affirmed by Dominick’s statement when announcing the partnership:
“The machinery and manufacturing sector is already seeing the power of the Internet of Things integration. Leveraging IOTA’s Tangle into this equipment takes the concept of machinery-as-a-service into a new arena of access and affordability.”
As a starting point, the partnership will focus on Germany’s manufacturing and machinery industries but will soon venture out to the UK and Asian manufacturing sector. The partnership is also expected to touch other sectors, including healthcare, insurance, supply chain, financial services, and industrial consumer goods sector.
Tech Companies are Hugely Exploring IOTA’s Tangle
Commenting on the partnership, Zühlke’s Director of the Solution Center Industrial and Consumer Solutions, Jens von der Brelie stated:
“Our collaboration aims to integrate IOTA Foundation’s distributed ledger technology platform, the Tangle, into Zühlke projects which will deliver innovation for manufacturing and machinery components.”
He further added:
“This enables advances such as the creation of micro-payments functionality, opening the door to new models of machine usage and commercialization.”
Zühlke is not the only tech company that’s looking to exploit the perks of IOTA’s Tangle. As Blockchainreporter had reported on September 27, IOTA Foundation in its partnership with European Institute for Technology EIT and EIT Climate KIC, stated that they would contribute by exploring the capabilities that IOTA Tangle Distributed Ledger Technology (DLT) in response to climate change and loss of ecosystems.