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- British multinational telecommunications company Vodafone launched its own blockchain-based platform. It will authorize connected devices to perform transactions automatically for their owners.
- The new platform is christened Digital Asset Broker (DAB). The new platform has the properties of the Internet of Things (IoT) platform.
- The market trial of the latest service was live on Monday, February 28. The devices were connected autonomously and securely through a charging point in Newbury, UK.
Vodafone has launched a blockchain-based platform that will authorize connected devices to execute automated transactions securely for customers.
The New Platform Has The Strength Of Its Internet Of Things (IoT) Platform
The new platform is dubbed Digital Asset Broker (DAB) as per the official statement. The new platform encapsulates the strength of its Internet of Things (IoT) platform; this will help benefit the Vodafone customers from the new ‘Economy of Things.’
Today, most of the connected devices and sensors share information via the Internet. In a step further, Vodafone’s new ‘Economy of Things’ platform goes beyond that; it enables secure and smooth transactions on users’ behalf through verified connected devices, vehicles, and smart street furniture.
Vodafone’s new platform will give a unique digital identity to any device instead of creating complex infrastructure. Then, through wallet and payment technology secured by the SIM, it will be able to communicate and transact with other devices using the wallet securely.
Blockchain technology secures the platform. The devices connected with Vodafone DAB are all verified, and they become automatically authorized to trade and exchange data and money over encrypted and secure connections.
On Monday, February 28, the market trial of the service went live. The electric vehicles were connected autonomously and securely with a charging point in Newbury, UK. The real-time information about the status and compatibility of the nearest available charging point are sent directly to the drivers, who can quickly authorize their vehicles to charge.
According to Vodafone, the platform will remove the fear of running out of battery life or “range anxiety.” It will hence make customers choose renewable electricity providers.
The new Vodafone DAB platform is a one-stop for trusted vehicles or any other device. It enables interaction among multiple car parks or systems, rather than using the expensive and time-consuming integration process of booking a parking spot.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
