In a tweet on 12th July, INS Ecosystem announced that it is now a part of the elite Trusted IoT Alliance joining the likes of companies such as Cisco, Bosch and IOTA.
INS Ecosystem is a decentralized platform that directly connects grocery manufacturers and consumers. The platform makes sure that grocery manufacturers and consumers are connected with each other. It also looks into order fulfillment and allows manufacturers to collaborate and publish their products for sale.
It also helps in carrying out promotional campaigns and segregating feedback from consumers. This enables the customer to take in all the information about the manufacturer and the product. INS is also tasked with creating the open source technology that is the core aspect of creating a successful decentralized system.
Peter Fedchenkov, the co-founder of INS Ecosystem, states:
“We are proud to join the Trusted IoT Alliance and look forward to cooperating with our fellow esteemed member companies in the blockchain and IoT spheres. I’m sure collaboration will be key to the future of our mutual technologies, and our membership will help us achieve even greater things with our enterprise-grade Blockchain Platform for the consumer industries. We hope to move forward side-by-side and meet interesting new challenges together.”
The Trusted IoT Alliance is a program that was launched in September 2017. The main aim of the partnership, according to their official website is to “enable trust in the data produced by IoT systems in a distributed ledger/blockchain agnostic fashion”. The companies who are involved in the partnership will also seek to create a ‘standard smart contract interface’ between IoT devices and different blockchain implementations.
The organization is headed by executives from global giants, which includes officials from Ledger, Foxconn, Spotify, Cisco and IOTA. This move is also expected to give a major push to the development of IoT devices and technologies.
Subscribe to AMBCrypto’s Newsletter
Bitcoin [BTC] Price Analysis: Coin reunites with the bull after escaping the bear trap
Bitcoin [BTC]: John McAfee predicts Bitcoin to breach the $1 million mark on 31 December, 2020
Bitcoin Cash [BCH] Price Analysis: Coin breaks resistance as bulls look to settle down
Bitcoin SV [BSV] Price Analysis: Coin ready for a bull run as markets move steadily
Litecoin [LTC] Price Analysis: Bulls set to take charge as coin recovers from earlier losses
Bitcoin [BTC] developer Jimmy Song lists 3 reasons why Bitcoin SV [BSV] is a “scam”
Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange
Bitcoin [BTC]: Mt Gox redemption plan demonstrates the power of open source network, says Brock Pierce
Nouriel Roubini says JP Morgan’s cryptocurrency JPM Coin is a joke; compares it to XRP
A New Generation of Crypto-Exchange: ALL IN ONE Crypto-Exchange
Ethereum [ETH] dApp users drop as EOS and Tron dominate the market
Bitcoin [BTC] Futures by the Chicago Mercantile Exchange Group reaches an all-time high in Q1 of 2019
- Bitcoin Cash
Bitcoin Cash [BCH] support rolled out by Coinbase custodial wallet app
EOS and Litecoin [LTC] lead the charge as the cryptocurrency market continues to rise