Leveraging Industrial Internet of Data Using Blockchain
Developing blockchain solutions to leverage industrial internet of data is what this Reno, Nevada-based startup Filament does. What their products do basically is to enable industrial and enterprise equipment to process data on a blockchain.
The Blocklet chip that they have introduced it as will allow any industrial device to communicate and interact with multiple blockchain technologies.
Filament has now raised its game with this new piece of hardware which they claim is essentially enabling ecommerce for industrial devices.
The company’s establishment story goes back to being founded in 2012. However it only officially launched itself in 2013. If we take into consideration the history of blockchain, it first appeared on the technology landscape in 2008.
Now if we put two and two together it is safe to say that Filament has been involved in blockchain for more than half its history.
Their journey through this digitalized transformation has made them recognize the value of distributed ledger technology (DLT) with respect to enterprises and the Internet of Things (IoT).
IoT and blockchain has made them realize that not all business advantages are unreachable; this transformation has boosted the company’s confidence that unique ideas for application can all be made possible in this day and age!
“In the early internet days, with CERN … the World Wide Web was [essentially] about sharing academic papers, or data,” Filament cofounder and CEO Allison Clift-Jennings said. “Once ecommerce came around, and brought an economic capability to the internet, everything changed. That’s exactly what Filament is trying to do now with IoT is to bring that same [economic] capability, native to devices and machines themselves.”
Transferring data about cargo or products between multiple parties within the supply chain at different points in time is something that has been going on in many industries.
What Filament claims is that its Blocklet chip will enable the container to engage in secure microtransactions: selling data about its location and cargo, for better communication with the owner negotiating connectivity, signing off on delivery to its final destination, perhaps someday even clearing customs.
Blockchain has been a technology that has been through an evolution and it will keep evolving has Filament aims to utilize this transformation into its system for a better future of the company.
“As an enterprise, we offer complete solutions – hardware, software, and services – that create new business models and unprecedented efficiencies. Working with customers, we are proving viable use cases across a variety of industries, while ensuring that this disruptive technology integrates without risk to existing processes. That’s where we are as a company”, said the eam of Filament.
Filament has successfully raised more than $22 million in funding since 2012. Clift-Jennings says that having the company’s headquarters in Reno, Nevada has helped secure investments while keeping the startup lean, as Reno is “the largest and closest non-California city to the Bay Area
The Blocklet chip has been used in pilots conducted internally by Filament. With this announcement, Filament will be actively looking for outside companies to deploy pilots with.