Directed Acyclic Graph (DAG) platform Obyte has announced that it has agreed to work with the Connectory of the world leading engineering company Bosch. The Connectory will allocate funds for purchasing materials, construction, and access to management systems that enable the team at Obyte to showcase how DAG technology can be applied to smart homes, smart buildings and smart city IoT applications at the Connectory in Stuttgart.
The collaboration with the Connectory follows on from two successful Hackathons that showcased Bosch Coins being transferred and distributed between parties free from intermediaries. The Connectory will soon launch a Lego Connectory display that demonstrates how Obyte and Bosch technology can be used together to transform the way modern day cities operate in terms of energy usage, traffic control, payments systems, working spaces, and charging of electric vehicles. Other products developed with Obyte during the Hackathons include integrating crypto as a payment mechanism for a 3D printer and a coffee machine that receive Bosch Coins transferred over the Obyte DAG ledger, as well as the world’s first ever onsite vending machine filled with power tools needed by workers at construction sites.
Anton Churyumoff, Founder Obyte: Distributed Ledger Technology has the potential to disrupt old industries and business models, however all too often it is viewed in a theoretical and abstract concept. By partnering with the Bosch Connectory, Obyte has an opportunity to demonstrate how Directed Acyclic Graph technology can be applied to people’s homeware appliances and daily routines from when they wake up and have a coffee, maintain their homes, drive to work and order groceries. Transactions and data can be managed and processed instantaneously over the Obyte DAG in a way that no existing blockchain can currently do.
Antonius Gress, head of the Connectory and Director for Digital Innovation and Automation at Bosch: Although there has been a lot of hype about blockchain and distributed ledger technologies (DLT) over the course of the last five years, very few practical applications and useful products have emerged from the noise. Most DLT projects are over-promising and under-delivering. In Obyte we found not only a project that is doing it the other way around, but also a platform that enables an easy and fast implementation of usecases with well known Javascript and quick to learn Oscript language and tons of ready to use features. Obyte’s DAG enables data and Bosch Coins to be transferred between third parties in a decentralised and scalable environment free from excessive costs and high energy use.
The Bosch Connectoryand Obyte aim to provide a physical demonstration of the projects and services devised in the Connectory with a “Lego City” that integrates the technology into a full city-scape display covering two full tables in the Connectory as well as real life implementations.
