On Thursday, IOTA Foundation, a blockchain-based technology firm, announced its partnership with Dell Technologies to launch the world’s first demonstration, Alvarium, which measures data's trustworthiness. Alvarium aims at improving the data sent out to apps and servers by providing a “measurable way of evaluating the confidence in the data.”

Dell Technologies started developing the project back in 2019 after the launch of the first Data Confidence Fabric. The project was subsequently passed on to the IOTA Foundation team, who added scalability, security, and blockchain properties to birthing Alvarium.

Alvarium maps data as it passes through every point, whether an IoT device, router, server, or cloud, and rates each point. The trust score ratings are built using “industry-specific requirements.” Once the trust ratings are made, the scores are broadcasted on the IOTA Tangle, ensuring transparency and permanence. Steve Todd, Fellow at Dell Technologies said,

“Data confidence is needed to manage data at scale, creating systems of trust in this data, so users at all levels understand the terms of use”

“Project Alvarium will create this transparency, and the more companies that integrate it into their processes and systems, the closer we'll come to a future without data ambiguity.”

Blockchain smart contracts require external data to function properly hence the recent growth of decentralized oracles such as Chainlink. Alvarium aims to compete with these decentralized oracles in the future by offering institutions and industries a reliable oracle and a confidence score.

The statement confirms the demonstration will be held through a webinar on February 24th starting at 11.00 AM EST.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

203 +