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Conectric Networks and Hdac enter MOU to Develop IoT-Blockchain Technology

Conectric Networks and Hdac enter MOU to Develop IoT-Blockchain Technology

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Conectric Networks, LLC announced that it has entered an MOU for technical and marketing co-operation with Swiss based IoT Blockchain technology company Hdac Technology AG (Hdac) on October 29th, at the Knect365 Industry of Things World Series IoT Blockchain Summit in Atlanta, GA.

This follows the Conectric Networks horizontal approach to IoT mesh networking sensor technology, enabling highly disruptive and scalable open ecosystems of software solutions around its decentralized wireless data networks. It has also been awarded the MetroConnect 2018 export assistance award given to Conectric Networks jointly by the World Trade Center San Diego (WTC), and the J.P. Morgan Chase to help innovative San Diego companies achieve their goals of expanding their international reach.

The result is the development of Industrialized Sensor Data Blockchain solutions for use in smart building, smart grid, smart manufacturing, smart cities and other global IoT markets. Conectric and Hdac demonstrated the first of its kind IoT-mesh combined solution last week at the IoT Blockchain Summit in Atlanta, GA. Movement, temperature and humidity data was generated using the Conectric wireless mesh sensors around the conference center and exposed on the Hdac-Conectric Blockchain Gateway, using Hdac crypto-tokens on the Public Hdac network. Hundreds of attendees from over 40 companies including IBM, Oracle, Siemens, Shell, Verizon, AT&T, FedEx, Airbus and IOTA were able to interact with the demonstration.

Conectric Networks CEO, Phillip Kopp said, "We designed an IoT networking solution that is completely decentralized and integrated with virtually any software, making the blockchain solution an obvious fit. Hdac Technology stands out in their IoT focus and vision that aligns with Conectric. New features will include Hdac's Blockchain as a Service (BaaS) platform and Universal Multitenancy Blockchain Adapter (H-UMBA) technology, announced at the Summit.”

“We see large scale deployments of this world's first blockchain enabled IoT solution happening quickly in the United States, Europe as well as South Korea. IoT without Blockchain, is like computers without the internet. These applications will reshape the world, and we are proud to work with the Hdac team together to possibly be the very first to do so commercially", he added.

Hdac COO John Sang-ug Bae said in his keynote: "The Hdac-Conectric co-work is an example of how we are executing this roadmap. IoT mesh networking and high volume sensor data inputs are key components to the success of our customers' business value. It is important to highlight how we have now shown this in practical use. We are optimistic about the results."

Source: PR Newswire
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