Dr. Xinxin Fan, Head of Cryptography at IoTeX, has been appointed Vice Chair of the IEEE P2418.1 Standard for “Framework of Blockchain Use in Internet of Things (IoT)”. This new effort brings together experts comprising academic researchers, startups, and enterprises to develop a universal standard that “provides a common framework for blockchain usage, implementation, and interaction with the Internet of Things (IoT)” and will address the “security and privacy challenges with regards to Blockchain in IoT” across both permissioned and permissionless blockchains.
IoTeX’s Vice Chair role was elected by other IEEE standards committee members — a great honor! — and will work alongside Dr. Ramesh Ramadoss, Co-Chair of the IEEE Blockchain Initiative. This appointment to Vice Chair of the IEEE 2418.1 Standard adds to IoTeX’s prominent leadership positions in industry bodies, such as the Industrial Internet Consortium (IIC) and Confidential Computing Consortium (CCC).
IoTeX hosted a special interview with Dr. Ramesh Ramadoss, Chair of the IEEE P2418.1 Standard, who will work alongside IoTeX’s Dr. Xinxin Fan to facilitate the development of this Blockchain & IoT standard alongside an impressive cast of enterprise members. During this interview, we discussed the role of standards today, how standards eliminate technical barriers, and why the standardization of Blockchain & IoT is important. Enjoy!
Building The Future Standard for Blockchain & IoT
Standards are a critical component that will fuel the rise of a market expected to reach $31 billion worldwide by 2030, with 73.5% compound annual growth. Standards are especially important for frontier technologies such as blockchain and IoT, which often involve a complex tapestry of hundreds of different pioneering companies.
“By co-creating standards with industry experts, IoTeX is committed not only to innovation in the blockchain space via our real world products, such as Ucam and Pebble Tracker, but also the research/standards space via our leadership positions in the IEEE and IIC to help shape the future of blockchain and IoT.” — Dr. Xinxin Fan, IoTeX
Interoperability is a key component of the working group’s role in building standards that unleash the full power of the blockchain innovation ecosystem. With participation from experts spanning individual researchers to global corporations like IBM, Dell, and Huawei, the IEEE is at the forefront of building standards and aligning stakeholders across emerging technologies.
“Standards help with the growth and adoption of new technologies by lowering the technical barriers. In the blockchain space, lack of interoperability is a technical barrier. The way devices are connected to blockchains to enable decentralized machine-to-machine communications should follow a universal standard. Standards will align data formats, achieve interoperability across systems, and aid adoption of this innovative technology.” — Dr. Ramesh Ramadoss, IEEE
Official Press Release
Founded in 2017, IoTeX is an EVM-compatible blockchain platform to power the Internet of Trusted Things, an open ecosystem where humans and machines can interact with guaranteed trust and privacy. IoTeX envisions a future where everyday people can own and control their smart devices, as well as the data and value they generate. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, decentralized identity, and secure hardware to connect real world data to DApps and enable innovative IoT-enabled use cases where users can own and monetize their data as digital assets.