A few days ago the
Man government revealed that it is working on a
Isle of Man blockchain proof of concept project.Announced on the Financial News, this plan started thanks to a collaboration with the blockchain startup Credits.
The Blockchain proof of concept aims at exploring the possibility of the distributed ledger to be used for Internet of Things (IoT) devices.
How the Isle of Man Blockchain proof of concept project works
Credits co-founder Nick Williamson explained that this idea was born to assign unique identities to devices for proving their authenticity.
These were his words:
“The idea behind [the experiment] is that IoT has a promise of assigning a unique, non forgeable identity to physical items and what the blockchain provides is the way of managing and maintaining an identity.”
It is not the first time we read news related to the Isle of Man and its blockchain projects, as it is one of the most active governments in exploring the distributed ledger technology.
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