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Lockheed, Ericsson, Lenovo, Huawei, Bosch, and IoTeX are developing the global IEEE blockchain Identity of Things standard

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Researchers and scientists from Lockheed Martin, Ericsson, Lenovo, Huawei, Bosch, IoTeX, and China Academy of Information and Communications Technology are developing the global standards for the blockchain decentralized identities, announced IEEE Chair of the Identity of Things Working Group, Dr. Xinxin Fan.

The Institute of Electrical and Electronics Engineers’ (IEEE) newly initiated group is developing a universal specification for blockchain-based decentralized identity (DID) for IoT devices that Dr. Fan — IoTeX Founding Member and Head of Cryptography— began in 2019 alongside the World Wide Web Consortium (W3C).

Blockchain identity standardization is critical to ensure interoperability and communications between Internet of Things (IoT) devices, people, and businesses. Eliminating technical barriers and enabling heterogeneous entities to communicate with global standards make possible global trade, economic growth, and local communities worldwide to prosper.

Led by Dr. Fan, the working group is committed to ensuring that by defining a global DID standard for humans and machines to interoperate, the full $12.6 trillion potential value of the IoT that McKinsey predicts by 2030 can be unlocked globally.

Specifically, the Identity of Things standard defines a decentralized identity and access management (IAM) framework for the IoT to manage the lifecycle of IoT devices as well as IoT security services such as device authentication, data authorization, and access controls.

Interoperability is a crucial component of the working group’s role in building standards that unleash the full power of the blockchain innovation ecosystem,” said Dr. Ramesh Ramadoss, the co-chair of the IEEE Blockchain Initiative.

Ramadoss explained interoperability using WiFi as an example. The IEEE set the global standard for WiFi. Thanks to that, people can travel anywhere worldwide and connect to the internet with only their username and password.

Dr. Ramadoss also used electrical sockets to explain why global standards are needed. People face issues when traveling to other countries with electronic or electrical devices that require a socket adapter. In the case of electrical sockets, there are multiple regional standards worldwide but no global standard.

“Standards help with the growth and adoption of new technologies by lowering the technical barriers,” Ramadoss said. “In the blockchain space, lack of interoperability is a technical barrier. There are many blockchains and the way devices are connected to blockchains to enable decentralized machine-to-machine communications should follow a universal standard.”

The Identity of Things standard that the working group is developing aims to ensure that all people and machines can communicate frictionlessly no matter where they are. They will make it possible for billions of machines worldwide to communicate no matter who manufactured them or where. With countless industries adopting Internet-connected devices, the need for devices to exchange intelligence and value is paramount to a trusted and automated future.

The world is already seeing smart cities and highways built globally. In the not-so-distant future, machines will be the primary workforce. The IEEE Identity of Things standard will make sure vehicles can seamlessly communicate with humans, with toll booths, parking meters, gasoline stations, and e-charging pods. And to enable people to order self-driving taxis, punctually pick them up, and drop them off where indicated, making payment digitally. These are just a few use cases, but the possibilities are endless.

Dr. Fan explained that with globally standardized DIDs, people can contribute globally to society with valuable real-time climate, geography, traffic, and other data.

“Despite technological innovations, today, even humans face communication barriers due to language barriers,” he said. “This issue is compounded when we look at machines manufactured by different companies and deployed in different geographical regions.”

“That is what the working group I preside over has been working on since April, and today I am pleased to say we have formed a fantastic initial class of forward-thinking enterprises to drive this standard forward and progressed significantly although many challenges still lie ahead,” Dr. Fan added.

“By co-creating standards with industry experts, IoTeX is committed to innovation in the blockchain space via our real-world products, such as Ucam and Pebble Tracker. We want to help people securely own their data, earn by monetizing it and the value their smart devices generate, and make the world a better place,” said Dr. Fan.

IoTeX has embraced MachineFi, or the decentralized machine economy. It will enable people to connect IoT devices and machines to the blockchain with DIDs. They’ll be able to monetize their data and the value their devices generate and improve their lives and their environment. One way is by receiving rewards for planting trees, using eco-friendly transportation, consuming sustainable energy, driving safely, and exercising and sharing that data. That will benefit others without compromising their privacy or handing control of their data and smart devices to Big Tech.

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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