Blockchain and IoT Combination Being Explored By Qtum, Chronicled

Announcements, Blockchain, Innovation | January 3, 2018 By:

The Qtum Foundation is collaborating with Chronicled and UC Berkeley to combine blockchain with the Internet of Things (IoT).

Headquartered in Singapore, the Qtum Foundation is the developer of Qtum, a blockchain technology and cryptocurrency designed to facilitate the interoperability of major cryptocurrencies such as bitcoin and ethereum, as well as to make smart contracts more secure and easier to handle. Qtum combines the advantages of the Unspent Transaction Output (UTXO) model, an Account Abstraction Layer allowing for multiple virtual machines, and a proof-of-stake consensus protocol aimed at tackling industry use cases.

Based in San Francisco, Chronicled is a technology company leveraging blockchain and IoT to power smart, secure supply chain solutions. Chronicled secures IoT device identities, data, and event logs and automates IoT-dependent business logic through smart contracts and offers a blockchain as a service platform for supply chain ecosystems. Chronicled is also a founding member of the Trusted IoT Alliance, with the mission of creating open source tools and standards to connect IoT and blockchain ecosystems to deliver business value.

UC Berkeley is a public research university located in Berkeley, California. Founded in 1868, Berkeley is the flagship institution of the ten research universities affiliated with the University of California system and is ranked as one of the world’s most prestigious universities and the top public university in the United States

Under the partnership, Qtum and Chronicled will work together to define and support a roadmap of fundamental research at UC Berkeley. The companies will help develop post-quantum applied cryptography, zkSNARK-based privacy-preserving smart contracts, and zero knowledge proofs for large computations.

The companies said that the UC Berkeley research team is currently focused on using applied cryptography to develop solutions for identity, ownership, and provenance validation as well as other use cases at the intersection of blockchain and IoT. Through this collaboration, the researchers hope to devise real-world use cases and gain further insight.

“The partnership with Chronicled and UC Berkeley represents the frontier of innovation in IoT, smart contracts, and privacy for enterprise applications,” said Qtum Foundation founder Patrick Dai. “We are delighted to be partnering with some of the strongest researchers and innovators in the world who are leading enterprise implementations.”

“We have been collaborating with the team at Qtum for almost a year through the Trusted IoT Alliance, and we are excited to bring the latest IoT integration capabilities to Qtum,” said Chronicled CTO Maurizio Greco. “We see a future where trusted device provisioning, authentication, data logs, and payments are just around the corner.”