Rivetz Corp., a platform focused on solving problems associated with consumer and machine-to-machine digital transactions, has joined the Trusted IoT Alliance, an open-source software foundation supporting a secure, scalable, interoperable, and trusted IoT ecosystem. As a member of the Trusted IoT Alliance, Rivetz will collaborate with Fortune 500 companies and startups to develop and support the intersection of blockchain and IoT.
“Rivetz looks forward to contributing to industry initiatives in order to bring enhanced device security to blockchain applications,” stated Rivetz founder and CEO Steven Sprague. “Known devices in known conditions, whether protecting digital assets or creating or consuming provable data, are a fundamental capability to ensuring trust in decentralized applications. We engaged with the Trusted IoT Alliance because we believe it is the most appropriate forum to advance these types of capabilities in the blockchain community, working with the organizations who have a vested interest in ensuring the security of the entire ecosystem.”
The Trusted IoT Alliance aims to increase interoperability and interworking, while maintaining a blockchain-agnostic philosophy. The Trusted IoT Alliance, an open source software foundation, offers an inclusive membership model and annual events to connect Fortune 500 enterprises, software developers, and blockchain technology companies. Member organizations are involved in projects to provide cryptographic identities to devices, machines, and supply chain hardware with a blockchain and smart contract powered backend. The Alliance coordinates POCs and testbeds, publishes open source code and standards, and awards small grants to support innovative open source projects. The Alliance works with companies like Rivetz to develop standards, certification, technical advancements, and business opportunities.
“The Trusted IoT Alliance is pleased to have Rivetz as a member. Their Trusted Execution Environment technology has deep potential to link smart contracts with the physical world,” opined Trusted IoT Alliance Executive Director Zaki Manian.
Rivetz’s RvT cybersecurity token provides verifiable security controls for cloud authentication, IoT, blockchain, and legacy financial transactions. The RvT token enables multifactor authentication across devices, to achieve provable security at the transaction and authentication level. The Rivetz solution aims to leverage technology that is already built in to hundreds of millions of mobile devices to assure the keys and transactions cannot be altered or stolen by malware infecting the operating system. Founding members include modum, vechain, Global Blockchain, Qtum, streamr, iota, Consensys, Foam and Bitse.