-Advertising-
Toronto, Dec. 15, 2017: The Canadian software and Internet of Things (IoT) solutions provider company Internet of Things Inc. announces the formation of a new subsidiary, Blockchain of Things Inc.
The company said in a press statement that by combining Blockchain and IoT, Blockchain of Things will look to transform the way global business transactions and operations are conducted, by providing an incorruptible, trustworthy environment that automates, accelerates and encodes transactions while ensuring enterprise level privacy and security for all parties.
Blockchain of Things Inc. is actively pursuing several strategic initiatives and acquisitions where Blockchain and IoT come together using smart contracts to streamline various operational/manufacturing activities.
The initial focus of the Blockchain of Things subsidiary includes but is not limited to the following markets:
- Supply Chain Management (“SCM”) targeting the following verticals: logistics; food safety; software; and B2B RFID users.
- Business process management and manufacturing, targeting the following verticals: ISO compliant systems; machine learning (“M2M”); and automotive
“The Internet of Things and Blockchain are set to converge and transform business operations and processes. We anticipate that blockchain will be the catalyst to the explosive adoption of both consumer and industrial IoT products and services. As such, the formation of Blockchain of Things positions Internet of Things Inc. to be at the front of this technological wave,” said Michael Frank, Chief Executive Officer of ITT Inc.
Blockchain of Things also announces the appointment of Michael Lende, as a senior consultant. Mr Lende is a strategic advisor to several technology companies and was the Senior VP at Zipcar, where he was a pioneer of the shared economy space. He led Zipcar Canada, growing it to 425 vehicles with 42,000 members and was instrumental in its very successful IPO.