The IOTA Foundation has entered into a partnership with NEDO, a national research and development agency, to work on a project focused on strengthening the security, longevity, and durability of critical infrastructure assets in Japan and abroad.
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According to an official press release shared with iHodl, the project is initiated by the local maintenance-related companies Best Materia and IMC. With IOTA, the group wants to capture a large share of the domestic social infrastructure conservation market, valued at $1.5 trillion.
The maintenance data will reportedly be digitized and processed by an artificial intelligence (AI) system to forecast which parts in a plant are going to require maintenance. This will reduce unplanned outages, improve plant availability and lower costs by reducing unnecessary inspections and repairs, the press release states.
IOTA Foundation Director of Partnerships, Holger Köther, says that the IOTA protocol will help to secure a wide variety of data points in this project.
"Digitalizing the risk based maintenance (RBM) systems for safer and more efficient industrial plants is only one of many applications where IOTA will be used in the future," he added.
The project will also develop a cloud-based SaaS software with the following capabilities:
- A decentralized database using IOTA’s distributed ledger technology;
- AI system;
- Digitizing and sharing infrastructure data.
As iHodl reported in September, IOTA Foundation launched an open-source distributed ledger technology framework for developing policy-based access control systems called IOTA Access.
IOTA Access was created to bring fine-grained access control to "any machine, device, or building without relying on a centralized system or requiring a constant internet connection."
The current alpha version, which is released as a Minimum Viable Product (MVP), already supports implementation based on ARM Cortex-A running Embedded Linux, the foundation says.
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