New Project Alvarium by IOTA, Dell and Linux Foundation to Focus on Trusted Data Confidence
The Linux Foundation, IOTA and Dell Technologies have started a new partnership that will be used to create a project that will give scores to pieces of data to evaluate their trustworthiness. IOTA, which is based in Germany, has the main goal of creating blockchain-based solutions for the Internet of Things. Dell also shares this goal, so the companies have decided to work together.
This new project, which will be called Project Alvarium, is set to be an open-source project between the three companies. The goal is to allow information to flow with more confidence, which can be attained via a reliability score created by the partners. According to them, the score would show how a piece of data can be trusted.
The IOTA founder Dominik Schiener has affirmed that the concept is called data confidence fabrics and that it addresses most of the challenges that people often face when they need to deal with data, which can be how to deal with the ownership of data, which data can be trusted and how to allow the public to control data.
According to the companies, the records of the information will be generated by smart devices and transmitted using the blockchain. The basis for the platform is set to be the IOTA blockchain.
Jason Shepherd, the IoT CTO of Dell, has affirmed that this could be an answer to the industry for measuring the confidence of data for the first time ever, which has the potential to change the way that individuals, businesses and nonprofit companies manage their data and monetize it.