CollaboGate Japan (CG) and Tessera Technology (TSSR) have partnered to develop a decentralised IoT platform with Renesas microcontrollers(MCUs). This plans to use the robust hardware security functionality of the MCUs to verify contactless transactions conducted through IoT devices. CG claims it to be the world’s first decentralised IoT platform to connect people and IoT devices.
According to an official release, the partners in association with Renesas will work on proof of concept to build a decentralised IoT platform. They aim to develop a smart concierge prototype for building a contactless economy worth over $11 Trillion by 2025.
Masayoshi Mitsui, CEO, CollaboGate said, “ The number and type of businesses that need to interact with users contactless have exploded beyond the specific industries. We believe that the verifiable data exchange platform between “people” and “machines” in a decentralised manner, will support the transformation to contactless systems in a wide range of fields, including new work styles, mobility, logistics, and smart cities, and will contribute to progress our digital society. We are pleased to share our vision with TSSR and Renesas and to be the first mover in the world to take on this challenge.”
The company said the new decentralised IoT platform is needed for a smooth transition from the face-to-face to the non-face-to-face system enabling devices to identify, authenticate, and authorise users, automatically verify the data applied for, consider user privacy, and ensure security.
CG provides decentralised ID platform ‘UNiD’ in Japan, while TSSR works on IoT device software development solutions. The alliance will introduce decentralised identity mechanism to IoT devices to autonomously verify the data provided by the users. CG said the mechanism will operate on key pair generation with public key and digital signature in the decentralised PKI network, eliminating the need for manual verifications. This is expected to reduce the operating cost of IoT devices.