|
Monday, 30 July 2018, 18:10 HKT/SGT | |
| | | | Source: uNEST | |
|
|
SINGAPORE, July 30, 2018 - (ACN Newswire) - μNEST ("mew-nest"; iotee.io) held a meetup in Singapore on July 27, in which the team gave an update on the progress of their IoT blockchain solution to an enthusiastic crowd. μNEST integrates solid applied cryptography knowledge with rich experience in smart hardware production to build an ecosystem which will include a public chain network, hardware wallets, smart contracts, and distributed applications (DApps).
Neo Ma, CEO of μNEST, spoke about the overall vision and key technology infrastructure of μNEST. He gave a detailed introduction on how μNEST solves the problem of data security in IoT implementations as well as the issue of transaction throughput levels in blockchain. μNEST's mission is to "protect" generated data from IoT devices, which is essentially the core value in IoT deployment, by addressing the purity, integrity, and privacy issues commonly associated with IoT data.
At the same time, μNEST seeks to solve security problems for the whole system chain of trust with hardware trust root. Using a combination of local Zone level software and hardware, the team aim to solve low transaction throughput on the blockchain, with a contribution-award algorithm (Proof-of-i/o) to strengthen P2P network robustness and solving ledger and data storage problems. A lightweight virtual machine (nVM) will be used to solve the problem of smart contract running environment.
In the near future, the team's proprietary hardware wallet can easily handle Machine-to-Machine (M2M) payment scenarios. With hardware and software interface standardizations, secure circulation and exchange of data as well as frictionless M2M payments, non-trusted multi-party value exchanges and efficient collaboration can occur free from counterparty risk.
Hardware and software interface standardizations, plus Clean data securely circulation/exchanging as well as M2M easily payment makes non-trusted multi-party value exchanges and efficient collaboration possible in real life.
The event ended off with an engaging panel discussion with Neo Ma and two other guest speakers, Lee Kwai Seng and Kelvin Ong. Lee is the Managing Director of AIRmaker, a leading IoT accelerator based in Singapore and Ong is the CEO of FocusTech Ventures, a private investment firm with deep roots in precision engineering and technology.
Both Lee and Ong shared their thoughts as investors in the IoT space, citing key challenges in the IoT space such as data security and data sharing. According to them, the fields of medical data and logistics are ripe with opportunities for disruption with blockchain technology. Ma also offered insights on how he envisioned μNEST's blockchain solution addressing those issues head on. The panel concluded with a key takeaway; the combination of IoT and blockchain technology will be a driver for change in the near future.
The meet up was hosted by the Singapore chapter of global blockchain incubator, LongHash.
About μNEST μNEST is an open source IoT+Blockchain project established by a team of technologists with over 20 years' experience in applied cryptography and smart hardware production. Using standard hardware interfaces (UART, SPI, I2C) and software interface specifications (SDK, API), the team aims to greatly reduce the barriers that developers face to reaching a Proof-of-Concept, making it easier and faster for projects to realize real-life application scenarios. For more details, check the official homepage https://iotee.io
For Media Enquiries: Longhash Singapore Email: admin.sg@longhash.com
Topic: Press release summary
Source: uNEST
Sectors: Cards & Payments, CyberSecurity, Crypto, Exchange, Blockchain Technology, ICOs & Tokens, Automation [IoT]
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
Latest Press Releases
Dogs Thrive on Vegan Diets, Demonstrates the Most Comprehensive Study So Far
Apr 24, 2024 07:00 HKT/SGT
|
|
|
Graid Technology Announces Software Update, Delivers Enhanced Levels of Data Integrity and Business Continuity
Apr 23, 2024 23:00 HKT/SGT
|
|
|
China Medical System: New Drug Application of Desidustat Tablets Accepted in China
Apr 23, 2024 22:00 HKT/SGT
|
|
|
GA-ASI Mojave Lights Up the Yuma Desert in Live-Fire Demonstration
Apr 23, 2024 20:00 HKT/SGT
|
|
|
2024 U.S. Open Polo Championship(R) Closes Out Historic High-Goal Season at the Sport's Premier Destination in Palm Beach County, Florida
Apr 23, 2024 20:00 HKT/SGT
|
|
|
HKTDC Home InStyle, Fashion InStyle forge global business opportunities
Apr 23, 2024 19:00 HKT/SGT
|
|
|
Masverse Unveils Groundbreaking Blockchain Platform
Apr 23, 2024 18:00 HKT/SGT
|
|
|
Dubai Sets the Stage for Digital Innovation: Unveiling the Inaugural Digital Transformation Summit
Apr 23, 2024 17:56 HKT/SGT
|
|
|
New Contaminants, Food Testing & More: analytica Convention 2024 Focuses on Vietnam's Laboratory Needs
Apr 23, 2024 16:00 HKT/SGT
|
|
|
Singapore Unveils Its First Live Painting Event Featuring ADHD Artists, Inspired by 'Collide' by Tay Guan Hin"
Apr 23, 2024 14:28 HKT/SGT
|
|
|
|
More Press release >> |
|
|
|