IOTA Foundation: Partnership and milestone in Japan with futuristic project

The German-based IOTA Foundation reaches a milestone and becomes part of a major Japanese project. The project, supported by the Japanese government, will implement the world’s first predictive maintenance system for industrial factories based on artificial intelligence. An important part of the project will be decentralised and secure data storage.

In this article we take a look at the role of the IOTA Foundation in the project and briefly discuss the basic problem.

IOTA Foundation for innovative technology project

Our report is based on a current article from the news portal JapanToday. It states that a project supported by the Japanese government will be implemented in close cooperation with the IOTA Foundation.

The project is financially supported by the “Japan Organisation for New Energy and Industrial Technology”. This is a national research institute which reports directly to the Japanese Ministry of Economy and Trade.

The project aims to develop a predictive maintenance system for industrial plants. The aim of this system is to improve and extend the “durability” of critical industrial plants. The system will be applied in sectors such as energy, manufacturing and chemicals.

A somewhat simpler formulation for the purpose of the project is as follows:

With this project, Japan wants to digitise data on the condition of machines and their maintenance. This data will be evaluated by algorithms based on artificial intelligence. This allows predictions to be made as to when such machines and plants require maintenance.

Decentralised data storage based on the Tangle

The current actual status is problematic because the data just described for the maintenance of plants are stored locally up to now. This creates challenges in the sharing of information across locations and the associated resource planning.

This is exactly where the Bitcoin Future comes in with its Distributed Ledger, namely the Tangle. The Tangle is used as a decentralised database to store the data just described. Artificial intelligence is to carry out the evaluation of this data in order to be able to schedule employees for maintenance as efficiently as possible.

Characteristic for the DLT is the replication of the data to different nodes and the associated distributed storage. Consequently, this also leads to an increased robustness against cyber attacks.

This is the first time that the IOTA Foundation is officially working in Japan on a project that is directly financed and supported by the government.