In collaboration with its partners ECLASS, WeWash, Neoception, Otto von Guericke University and Helmut Schmidt University, the IOTA Foundation developed the world’s first cross-manufacturer and cross-industry decentralized virtual industrial marketplace for fully autonomous trading of services as well as physical and digital goods.
The next generation of industrial automation, Industry 4.0 (I4.0), is increasingly coming into focus for all companies. In the future, devices and machines will not only manage information about assets, but proactively initiate decision-making and optimization algorithms, such as the purchase of goods and services required for the production process. I4.0 devices, with their goal-directed behavior, can be seen as autonomous independent economic actors cooperating according to market principles.
The highly flexible value networks resulting from I4.0 require new forms of cooperation between companies – both on a national and global level. The successful implementation of I4.0 depends on the creation of a common global communication and computing infrastructure that enables economic relationships between people and machines.
The semantic Industry 4.0 Marketplace is an important piece of the puzzle for building this needed infrastructure. The marketplace leverages IOTA’s distributed ledger technology for confidential, tamper-proof data transmission.. IOTA technology also serves as a payment system, enabling improved connectivity between people, machines, and machine-readable contracts. In addition to IOTA technology, the marketplace uses the ECLASS ISO / IEC industry standard to exchange standardized master data with each other. ECLASS is a global reference data standard for the classification and one-to-one description of products and services. It is the standard language for industrial companies, for a faster and more reliable exchange of product information without regard to organizational structure or language barriers. ECLASS offers product data for 44 industries and has established itself internationally as the only ISO / IEC standard-compliant cross-industry industry standard. More than 3,500 companies worldwide already benefit from using ECLASS.
Last Updated on 14. April 2021