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IOTA is to be used for infrastructure projects in Japan

A new major project is on the program at IOTA: In Japan, power plants are to be made safer and more efficient, and the use of databases and artificial intelligence (AI) is planned for this purpose. As the IOTA Foundation proudly reported in a blog post, expertise and Tanglenet will contribute to this project.

The project is funded by the Japanese development agency NEDO (New Energy and Industrial Technology Development Organization). According to IOTA, a budget in the millions is available. A total of around 30,000 power plants are to be upgraded to make the critical infrastructure future-proof.

Read more details about the new project in Japan and how IOTA will help with the implementation, and find the most important financial news with our companion app Born2Invest.

Background to IOTA in Japan

The IOTA Foundation said that in Japan operating data from power plants is mostly still recorded and analyzed manually. To change this, sensors compatible with the IOTA ecosystem will be used in the future. They then send their data in real time to nodes where artificial intelligence is used to make predictions about when maintenance work is required.

The Japanese agency said it was also a response to the challenge of an aging society. Many local risk management specialists are retired and AI will help replace the shortage of young people. For the AI ​​sector, NEDO has commissioned two Japanese companies as project partners: Best Materia and IMC.

According to IOTA, NEDO chose Tanglenet, among other things, because it offers security against cyber criminals and manipulation. The IOTA system can be used to define in detail which data is shared with whom. Connections via the new 5G mobile radio standard, for example, should ensure data acquisition and data exchange in every situation. The IOTA Foundation can well imagine that the cooperation in Japan will lead to a system that will also be in demand in other countries and industries.

Conclusion: IOTA expects money and sermons from the Japan project

On Twitter, developer Hans Moog is looking forward to the major order from Japan for IOTA. He emphasized the practical use case as well as the financial resources. In the summer there were discussions about whether the IOTA Foundation still has sufficient financial reserves for 2021. Although IOTA does not provide figures on how much project funding it expects from NEDO, it does have the necessary financial resources. According to IOTA, however, several hundred thousand euros per power plant alone are estimated in order to prepare them for the new risk management system. A large part of this money will likely go to the IOTA Foundation, which of course hopes to be able to use the large-scale project to promote IOTA technology.

However, based on the information available, there are no plans to use IOTA as a cryptocurrency in Japan. Thus, MIOTA is still below the $ 0.30 mark. Investors continue to watch the development of Coordicide aka IOTA 2.0, with which Tanglenet is to be decentralized. They expect this change, announced for 2021, to have a positive impact on IOTA’s price curve.

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(Selected image from cegoh via Pixabay)

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First published in BLOCK-BUILDERS.DE, a third-party provider translated and adapted the article from the original. In the event of discrepancies, the original has priority.

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