Founding members include Bosch, BNY Mellon, Cisco, Gemalto, US Bank along with Bitse, Chronicled, ConsenSys, Ledger, Skuchain, Slock.it, HCM International of Foxconn Group, IOTA, Oaken Innovations, Qtum, Chain of Things, Big Chain DB. The alliance aims to bring companies together to develop and establish the standard for an open source blockchain protocol to support IoT technology in major industries worldwide. According to the official release, the members have already published a common API to register things to both Hyperledger and Enterprise Ethereum blockchain networks.
Furthermore, the initiative aims to provide a platform to the members to work together to ‘advance IoT and blockchain by leading pilots, publishing open source code, and coordinating standards and reference architecture. It will house intellectual property and open-source tools and standards that support trusted digital identities for IoT-connected products. This will enable enterprises to represent physical world things and event logs on a decentralized blockchain system.
In addition, the Alliance plans to fund small grants to support open source development and is reviewing proposals from IoT and blockchain technologists.
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