An American startup has developed a new software and chip called Blocklet which facilitates secure data transactions on industrial and enterprise devices and sensors using blockchain technology.
According to Filament, its distributed blockchain capabilities leverage open protocols so that devices are able to independently process and record transactions while ensuring digital trust.
The new software and chip combination are designed to communicate and interact with multiple blockchain technologies natively, VCCircle reported.
“The software, implemented on existing hardware, will deliver a secure distributed ledger technology solution,” Filament said in a statement. “The Blocklet Chip will allow industrial corporations and enterprises to seamlessly extract the value of recording and monetizing data assets, at the edge of the network, on the sensors themselves”.
From the start, Filament has been dedicated to furthering the value and economics of the digitally connected world, right at the edge of the network.
“We are taking enterprise and industrial IoT connectivity benefits to the next level where data can be transacted and inherent trust is created,” said Allison Clift-Jennings, CEO of Filament. Allison was quoted on Digital Journal.
A further advantage with the chip is that it has a very small footprint and low power consumption. The chip currently supports Hyperledger Sawtooth blockchain, and this will shortly be expanded to encompass the Ethereum blockchain ledger. The Filament technology stack was built upon five key principles, described as: Security, Privacy, Autonomy, Decentralization, and Exchange (SPADE).
Filament builds blockchain hardware and software solutions for the enterprise and Industrial Internet of Things (IIoT), allowing companies to securely connect devices and machines that interact and transact value independent of a central authority.
The firm was established in 2012.