Tuesday January 19, 2021
BTC $36,876.00 (2.59%)   ETH $1,314.60 (6.40%)
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
SWAP BITCOIN NOW
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas.net
No Result
View All Result
Home Capital Raising

NEM Ventures invests in blockchain and IoT startup IoDLT

VC fund of NEM invests in IoT-based startup integrating NEM Catapult to deliver efficient business solutions

Published by CryptoNinjas.net
07/31/2019

NEM Ventures, the venture capital and investments arm of the NEM blockchain ecosystem, today announced an investment in IoDLT (Internet of Distributed Ledger Technologies), a B2B blockchain and IoT-based startup. IoDLT utilizes IoT and NEM Catapult to provide scalable, cost-effective B2B solutions that automate approaches to securely recording sensor-based IoT data directly to an immutable, distributed, and trusted ledger.

IoDLT’s core product is a small form IoT device which runs a NEM Catapult node (or entire private chain) to allow direct connection of various sensors and computing capability to a Catapult chain. This provides the full functionality of a blockchain solution at a fraction of the cost and can be used in a Private or Public chain scenario. Their solution will enable any business to utilize NEM Catapult’s features, including decentralized swaps between businesses, on-chain account systems, two-factor authentication, user data management, and secure business logic modeling.

“We see huge potential in IoDLT, and are thrilled to be investing in a startup with significant potential for scalability. Facilitated by NEM Catapult, IoT devices connected directly to the blockchain will have a wide array of industry applications. We’re excited to be at the intersection of blockchain and IoT, and to see first-hand the solutions that can be put in place to increase business efficiency and security.”
– David Mansell, Director and Co-founder of NEM Ventures

IoDLT Solutions

With security and decentralization at the forefront of its solutions, IoDLT has a strict no-central-server policy and all data is either stored privately, publicly on the blockchain, or in distributed storage, and is encrypted to ensure maximum data integrity. IoDLT’s solutions feature realistic implementations of the NEM blockchain and IoT that integrate seamlessly into already-established business operations, with tangible applications across the Artificial Intelligence (AI), healthcare, insurance, manufacturing and supply chain, agriculture, fintech, alternative energy metering, and accounting industries.

IoDLT plans to release a blockchain and IoT healthcare management solution within the next year, leveraging NEM Catapult to facilitate patient management, administration processes, decentralized records, Internet of Medical Things, and audibility. This solution will save time and cost processing while streamlining stakeholder relations, and will cater to doctors, patients, and health insurance companies. IoDLT currently has a pilot medical clinic in place to test this solution before its official launch in Q2 2020.

“We strongly believe that businesses should respect their users’ data, and NEM Catapult makes this all possible. Its highly performant, secure, and modular nature allows us to have full flexibility with our solutions. Catapult allows us to focus more on providing high-quality solutions, rather than worry about the safety and complexity of the technology. IoT devices benefit from this simplicity, as Catapult can interact with nearly any language and platform that supports the ability to make API calls and allows the devices to communicate securely. As a result, we can allow any business to utilize a fully secure and private blockchain and IoT solution, without the huge overhead costs.”
– Bader Youssef, CTO of IoDLT

FacebookTwitterLinkedinRedditE-MailTelegram

Related Posts

NEM Ventures invests in blockchain copyright solution SharpShark

07/21/2020
NEM Ventures launching new blockchain project incubator program

NEM Ventures launching new blockchain project incubator program

03/03/2020
NEM Ventures joins Decentralized AI Alliance to support AI democratization

NEM Ventures joins Decentralized AI Alliance to support AI democratization

02/04/2020
NEM Ventures invests in cryptocurrency transaction provider Cyclebit

NEM Ventures invests in cryptocurrency transaction provider Cyclebit

11/21/2019
Nemventures Amp Ample

NEM blockchain venture arm invests in tokenized smart meter energy app

07/01/2019

NEM Ventures makes seed round investment in Aussie ridesharing app

06/04/2019
Load More

Discussion about this post

CoinSwitch: Instant Cryptocurrency Exchange and Converter CoinSwitch: Instant Cryptocurrency Exchange and Converter CoinSwitch: Instant Cryptocurrency Exchange and Converter

Recent Updates

Huobi to enhance fiat gateway for European users with BCB Group

KardiaChain integrates with ShareRing’s blockchain travel app

Blockchain KYC platform Blockpass integrates with Matic

Zilliqa tokenizes rare single-malt scotch whisky casks, now available to accredited investors

GateHub launches Wallet Protect to cover up to $100K for XRP ledger wallets

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Purchase 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit

Trending Views

Billions of dollars in bitcoin becomes available to creditors of Mt.Gox bitcoin exchange

Crypto payment and wallet project TenX shuts down

Zilliqa tokenizes rare single-malt scotch whisky casks, now available to accredited investors

Fenbushi Capital launches $15M+ investment fund for Filecoin and IPFS ecosystem

Crypto exchange Poloniex launches XRP perpetual futures

  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2021 CryptoNinjas Disclosures | Privacy Policy