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EVRYTHNG, IOTA Partner To Apply DLT, IoT For Consumer Goods Supply Chains

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Internet of Things platform EVRYTHNG is teaming up with IOTA Foundation to use IoT and distributed ledger technology (DLT) to build a platform to provide transparency and provenance for consumer goods supply chains.

EVRYTHNG is an IoT platform that activates every consumer product to make it intelligent, interactive and trackable, while IOTA is a non-profit foundation focused on DLT and permissionless ecosystem development.

IOTA's permissionless open-source distributed ledger is built to power the future of the IoT with feeless microtransactions and data integrity for machines.

The IOTA integration allows consumer product brands to experiment with emerging DLT capabilities while relying on the scalability, interoperability and maturity of the EVRYTHNG platform.

The new platform, using IoT and DLT, will make product supply chains transparent in order to meet the urging demands for sustainability, while sharing real-time data between supply chain partners.

The consumer brands are generally charged fees for testing and pilots by other public blockchains like, Ethereum and Bitcoin, to put the technology out of reach for many brands. The high costs high costs associated with testing blockchain/DLT platforms to determine the best fit and solution deters many brands to use the emerging technologies.

The new platform can be used by consumer product brands to rapidly test, scale and deploy IoT applications to deliver transparency and provenance to customers. It will help brands simply and cost-effectively assess which blockchain and DLT solutions and capabilities are most appropriate for their business and then to rapidly deploy it.

With IOTA's distributed ledger technology, the Tangle, people and machines can transfer data or value without any transaction fees in a trustless, permissionless and decentralized environment.

EVRYTHNG gives unique digital identities to a range of consumer goods and the product such as a handbag or a bottle of whiskey, can be followed along its production chain using the identity, while collecting data about its manufacturing process.

The collected data is stored on distributed ledgers to allow any customer to access it either from a dedicated app or with a simple web interface, without the need for any log-in detail or sharing of personal data.

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