Context Labs will integrate IoT ImpactLABS’ expertise into its core blockchain-based offerings to accelerate the “Supply Chain of Everything.”
Context Labs has acquired IoT ImpactLABS, saying the acquisition will help to accelerate their blockchain-based Immutably platform further up the supply chain, with the goal of creating the “Supply Chain of Everything”.
The firm says they intend to increase integration with IoT connected devices, sensors and systems. For example, meeting blockchain and IoT, food can be tracked from field to table and water from source to the tap.
See also: Practical blockchain – a Gartner trend insight report
“This key functionality will further provide what the industry has coined the ‘birth certificate’ or ‘passport’ of physical things to be cryptographically encoded and tracked, from the point of inception through its end of life,” stated Dan Harple, CEO of Context Labs. “The IoT ImpactLABS acquisition strengthens our ProofWorks and Immutably platform to deeply enhance IoT/Blockchain integration, providing proof of the ‘birth certificates’ of things and data. It creates a verifiable proof of existence for the data or physical thing pinned to a particular point in time, with a ‘context proof’ in the interconnected network graph of supply chain partners.”
Those proofs and signatures are registered on one or more public ledgers or made available on media channels such as Twitter or Facebook. Context Labs’ Scrivener Ledger is designed to provide interoperability between multi-ledger registrations. That ensures multi-layered secure veracity and provenance. The company’s Immutably product line is designed to ensure security and reliability in the delivery of digital and physical goods. The acquisition of IoT Impact Labs is aimed at moving that security and reliability further up the supply chain.
“With this deal, Context Labs is accelerating its platform to provide a device-agnostic Internet of Things (IoT) API layer to deliver a seamless “plug and play” for a wide range of IoT devices, sensors, embedded systems, and instrumentation. This innovation in IoT interoperability is a key differentiator for our Immutably, Proofworks, and Impact Analytics product line, giving customers what they have requested – the ability to identify, track and trace upstream IoT and sensor data into our supply chain platform,” stated Gavin Nicol, CTO of Context Labs.