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Vodafone has launched a new ‘Economy of Things’ platform based on blockchain technology

Mobile operator Vodafone has introduced a blockchain-based technology platform that permits linked devices to conduct safe automated transactions on a customer’s behalf.

A company statement says the new platform, called Digital Asset Broker (DAB), will build on the strengths of Vodafone’s Internet of Things (IoT) platform and will assist customers in taking advantage of the new ‘Economy of Things.’

 

The Internet is used by the vast majority of connected devices and sensors today to collect and transmit information. Although this is true, the new Vodafone ‘Economy of Things’ platform goes far further than that. It makes it possible for certified connected objects, such as cars or smart street furniture, to transact seamlessly and securely on a user’s behalf, without requiring the user’s involvement.

 

Vodafone’s new platform will provide a unique digital identity to any device, eliminating the need for businesses to invest in costly and time-consuming infrastructure. This allows it to securely converse and transact with other devices through the use of wallet and payment technologies that is protected by the mobile SIM.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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