Lisk, a decentralised sidechain platform, has announced a strategic partnership with Chain of Things research lab to “investigate merging points for blockchain technology and the Internet of Things.”
As stated in the official press release, the companies hope to find possible areas of cooperation between other members of the community and to work out open standards that could be beneficial for the entire industry.
Lisk will provide advisory services for the Hong Kong-based Chain of Things, which has already partnered Ethereum and IOTA.
“Alongside existing partners Ethereum and IOTA, Lisk will fulfil an important advisory role at the Chain of Things research lab. Therefore, by working in collaboration with the participating members to create an open standard for the industry, we hope that our contributions will bring great success to this shared initiative.”
The Chain of Things lab focuses mainly on security concerns affecting the development of the Internet of Things. It hopes to identify and discuss areas where blockchain technology is able to address such concerns and conduct testing of newly developed solutions through organizing hackathons. Open standards are the expected result of the overall work if it proves successful:
“Chain of Things is setting up a Research Lab to answer this critical question: can Blockchain essentially save IoT? Yes or no? If yes, we will support collaborative development on an open source standard to secure IoT devices. If no, we will turn our attention to the various other areas in which Blockchain can add value to IoT.”
Earlier this year Lisk launched an Initial Coin Offering (ICO), distributing 85,000,000 units of the Lisk cryptocurrency in exchange for bitcoin and other rival coins. The initial coin offering is now on and is expected to last till 21 March.