Japanese Tech Giant Fujitsu Supports IOTA

Fujitsu, a Japanese conglomerate technology company, has released its plan to support the Germany-based IOTA (MIOTA) to develop it the new protocol standard.

Fujitsu released on August 24, 2018 an official notice explaining the use of IOTA-focused blockchain as an unalterable data storage platform to process it’s audit trail. The project, named “industry 4.0 co-create with Fujitsu”, will have the Japanese multinational company will implement the IOTA protocol as a data storage medium in order to enhance their production and supply chain management, thereby creating more transparency, data trust and data security.

Program manager of industry 4.0 at Fujitsu, Leopold Sternberg said:

“Fujitsu is well-equipped to help roll out IOTA as the new protocol standard as we are experts in both IT services and the manufacturing of IT products… Product quality is a critical success factor for the Manufacturing Industry. Assembled products can consist of hundreds of components and their production is based on complex processes. For audit trails in industrial production environments and supply chains IOTA provides a single source of truth.”

The project further details a proposed cryptographic ID system for product components and the current status during production that would connect through nodes on IOTA’s Tangle protocol that will be hosted by Fujitsu.
IOTA made news recently with the launch of its Trinity wallet for desktop, which is currently in its open beta version. The unveiling followed the recent launch of the Trinity Mobile wallet app three months prior.
The wallet announcement along with the cooperation and Fujitsu’s backing, has seen the price of MIOTA from around $0.50 on Friday jump to more than $0.60 over the weekend.