IOTA to Provide for a Safe Tamperproof Exchange of Data between Business Partners

Developers who are into building decentralized things are constantly looking for platforms where they can push the boundaries to further come up with solutions to novel problems.  It is very obvious that lot of fee-less and minimized smart contacts are grabbing a lot of attention.

IOTA have to state that driven by the best kind of DLT, they are focused to deliver the best kind of DLT available in the market.

The IOTA blog recently published about “Document Authentication – What You Can Learn from a CGI & NORDAKADEMIE student project.”

This project they feel deserves an academic recognition, which combines both validation and endorsement of their research efforts.  They are looking for adoption in more of applied research contexts.

The blog claims that this is one major reason for why they are constantly engaging with academic organizations from across Europe and the world.  This gets them close to IOTA technologies in a way to further enable and empower their students to research and build on it.

The blog also recollects that this is the reason for why despite the new challenges brought by national lockdowns and on-going pandemic, they worked with CGI, which is a globally leading service provider for IT and business innovation, to deliver an online workshop to eventually set the research challenges for an innovation project with future professionals from the NORDAKADEMIE Graduate School in Hamburg.

IOTA claims that the validation of documents is lesser-known, but to be a promising use case of DLT, which the students were asked to address. Based on IOTA technology, the team of students, supporters from CGI, and the IOTA Foundation and the NORDAKADEMIE have iteratively developed a proof of concept to provide for a safe and tamper proof exchange of data between business partners.

Very soon, we will be able to witness students carrying out innovative practical projects in this area. This is set to happen because secure document exchange is very important in a world where there is social hacking and lot of insecure communications which are constantly increasing.

Replacing this trustworthy third-party provider in the process of securing the “confidentiality of information sharing” with an IOTA tangle solution permits not only faster and highly secure document transfer, but also facilitates an opportunity for cost savings.

Being a decentralized network, Tangle will be able to act as a neutral layer between partners. The network builds the trust by itself.

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