The largest industrial technology firm in Europe is partnering with a distributor ledger organization focused on the Internet of Things (IoT), known as Minima, to integrate blockchain technology into its devices across the automotive, robotics, and energy industries.
Minima is collaborating with Siemens’ Cre8Ventures division, an initiative aimed at speeding up industrial advancements by partnering with startups in various domains, including AI, digital twins, and cybersecurity, as stated in a press release on Tuesday.
The ongoing enhancement of computing capacities at the edges of networks has led to an increased requirement for robust security and data integrity within these edge devices on a large scale, making IoT-grade blockchains particularly relevant.
This represents a notable shift, as blockchain technology was once considered fundamentally opposed to large enterprises due to its decentralized nature and ability to eliminate numerous intermediaries, remarked Minima’s CEO, Hugo Feiler.
“As control shifts to the edge on these devices, even substantial enterprise clients must ensure there is resilience in that structure,” Feiler explained in an interview. “Thus, the capacity for these large enterprises to operate within a decentralized framework has become vital. Decentralization isn’t merely about cutting them out as intermediaries; it’s also about empowering them to extend their reach to provide better services.”
Late last year, Minima disclosed its collaboration with ARM, a leading semiconductor company, to create a microchip featuring an embedded decentralized ledger. The partnership with Siemens, building on Minima’s prior engagement with ARM, aims to advance the sovereignty objectives of the EU Chips Act, which was introduced in 2022 to lessen dependence on foreign chip producers, according to Minima.
“Minima allows IoT devices to operate a full node, enabling them to independently connect to a blockchain network without relying on external servers or centralized intermediaries, thereby removing all central failure points and assuring complete decentralized security, data integrity, and trust-free verification. Our partnership brings innovative AI capabilities, data integrity, and decentralized trust systems to the Siemens Cre8Ventures Digital Twin Marketplace,” stated a representative from Siemens in a comment.