Industrial IoT

New technology, new business models

The manufacturing industry is undergoing a revolution. In smart factories, intelligent, connected machines will self-organize and self-optimize to improve efficiency, reduce waste, and increase production. Each product will have a corresponding digital twin - an evolving digital profile of historical and real-time data throughout its lifecycle. With this link between the physical and digital it becomes possible to streamline processes and predict issues before they happen, creating a more agile and transparent approach to manufacturing.

The benefits of Industry 4.0 are not limited to efficiency improvements. With the increased connectivity, the manufacturing industry will move away from siloed operations. Data and services will be shared beyond factory walls in cross-company value chains. At the core of Industry 4.0 will be a global communication and payment network to facilitate reliable data exchange and economic relationships between machines.

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The Industry Marketplace

Together with world-leading academics, standardization bodies and enterprises, IOTA launched the Industry Marketplace - a vendor and industry neutral platform that automates the trade of data, goods and services. Within the Industry Marketplace, devices operate as autonomous, independent economic agents that cooperate and trade resources and services with one another based on supply and demand.

The Industry Marketplace builds on specifications developed by the Plattform Industrie 4.0 (Germany’s central network for digital transformation in manufacturing). It combines a decentralized identity system and standardized machine-readable contracts, to create a system for decentralized exchange. IOTA’s distributed Ledger allows devices to communicate securely, exchange data, goods, services and payments and provides a decentralized, immutable audit trail for asset offers, requests, and orders.

To try the demo and read more about the Industry Marketplace, visit: https://industrymarketplace.net/

Powering Industrial Automation & the Economy of Things

IOTA is uniquely suited for Industry 4.0 - a platform for trusted exchange of data and secure exchange of value, with low resource requirements and no fees. With principles of full transparency and permissionless innovation, IOTA forms the open and neutral base for organizations interested in Industry 4.0 to build upon.