According to the report, NEDO is Japan’s largest public management organization that promotes research and development, including the development of industrial, energy, and environmental technologies.
The report added that the project is targeted at developing technology to boost the security, longevity, and durability of critical infrastructure assets in Japan and some other parts of the world.
Sharing the new development with the community, IOTA Foundation tweeted, “We’re proud to join the Japanese government on NEDO Project to protect critical infrastructure with AI and DLT. Read how IOTA will help strengthen the security & durability of critical infrastructure in Japan and abroad.”
We're proud to join the #japanese government on NEDO Project to protect critical infrastructure with #AI and #DLT. Read how #IOTA will help strengthen the security & durability of critical infrastructure in #Japan and abroad. https://t.co/sArAAq3HGi
— IOTA (@iotatoken) October 27, 2020
Both Artificial Intelligence (AI) and IOTA tangle are involved in the project to capture a large share of the domestic social infrastructure conservation market that is valued at 170 trillion Yen worth $1.5 trillion.
According to the report, this type of predictive maintenance system designed to share industry data using a distributed database is going to be the first of its kind in the world.
The project will develop a cloud-based SaaS software that has a decentralized database using IOTA’s distributed ledger technology, developed Artificial intelligence system, and digitizing and sharing infrastructure data.
Reacting to the big announcement, director of partnerships at IOTA Foundation, Holger Köther, said:
“Creating a decentralized, open-source, and free distributed ledger technology to ensure data integrity has always been our driving purpose. As a non-profit, we are honored to see the IOTA protocol being utilized to secure a wide variety of data points in this project. Digitalizing the RBM systems for safer and more efficient industrial plants is only one of many applications where IOTA will be used in the future.”
Join us on Twitter
Join us on Telegram
Join us on Facebook