A recent post shared by IOTA News has revealed the alliance formed between Japanese IT Equipment and Services Firm, Fujiitsu and proclaimed, permissionless distributed ledger provider, IOTA. The tweet made on Sunday, August 26, also provided a snippet of a Proof-of Concept (PoC), dubbed, Industry 4.0 Audit Trail.
The ultimate goal is to establish an audit trail which will be based off of IOTA. The reason for choosing IOTA as a foundation stems from the fact that it has the ability to support “immutable data storage”.
According to the Program Manager of the efforts being made, Leopold Sternberg, both IOTA and Fujitsu have experience within the information tech (IT) sector, adding that the duo plans to “develop and co-create innovative technology with customers.” Sternberg also shared that “Fujitsu is well-equipped to help roll out IOTA as the new protocol standard.”
As for the benefits that will come out of the alliance, the duo believes that they will be able to provide customers with exceptional transparency, trust in data and data security. Moving forward, room for growth is said to be evident, as projects combining the Fujitsu PalmSecure Palm Vein Pattern Recognition Technology and IOTA Tangle will come into existence. Moreover, efficient interactions will be initiated along open-sourced supply chains.
At the time of writing, IOTA (also the native token), takes the 11th position on CoinMarketCap. It houses a total market capitalization of USD$1.4 billion, trading volume of USD$28 million and a token price of USD$0.53, which has fallen by nearly 900 percent since its all-time high.