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The two entities are integrating their solutions to provide greater transparency for supply chains in the consumer goods sector.
Iota and internet of things (IoT) firm Evrythng announced a partnership to combine and apply their distributed ledger and IoT technologies to provide greater transparency for consumer goods supply chains. The news was revealed in a press release on April 17.
According to the press release, Evrythngâs focus is to implement IoT and DLT technology to create unique, interactive and trackable identities for consumer products, with the aim of fostering greater transparency for both supply chain stakeholders and consumers.
The partnership will reportedly see Evrythngâs Blockchain Integration Hub expand to include integrations with Iotaâs distributed ledger protocol, known as Tangle.
Tangle is different from blockchain in that it does not use âblocksâ or mining, but rather is built upon a directed acyclic graph (DAG), a topologically ordered system in which different types of transactions run on different chains in the network simultaneously.
Both partners highlight the lack of transparency and trust that besets the current supply chain system for consumer goods, given the reliance on centralized intermediaries that can potentially omit or tamper with data on productsâ sourcing and provenance.
By including Iota integrations within the Evrythng Blockchain Integration Hub, the collaboration will aim to leverage Iotaâs trusted, permissionless and decentralized environment and feeless micro-transactions structure to address these challenges.
Dominique Guinard, co-founder and CTO of Evrythng, has said that Iotaâs public and permissionless IoT-focused protocol will facilitate interoperability between products and devices at scale.
An accompanying blog post published by Iota on April 17 outlined the approaches the two partners have been pursuing, whereby data is collected and attached to a productsâ digital identity, and simultaneously hashed and stored on the Iota Tangle.
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