Singapore foundation brings blockchain to Asian IoT markets
January 3, 2018
SixDomainChain Foundation, a Singapore-based IoT blockchain organisation, has launched the SDChain Initiative to serve east Asian IoT markets with blockchain 4.0 technology.
SDChain, an IoT blockchain commercialisation initiative, aims to create a partnership ecosystem of sharing trustable IoT digital assets generated from devices. This integrates international standards of the IoT six-domain model and standards of distributed blockchain reference architecture.
Facing the IoT industry's lack of international standards, Jie Shen, project editor of ISO-IEC IoT reference architecture standards and co-chairman of SixDomainChain Foundation, said: "I am very pleased that through SDChain all of the hard work and research that my colleagues and I have collaborated to design for global IoT standards at our international task force comprised of IoT experts from over 30 countries will finally become an united global IoT reality and benefit the whole world."
SDChain envisions that IoT data from the physical world should be sharable via a fast and cost-effective digital blockchain network where data producers and data users conduct digital asset exchange. Hence, the mission of SDChain is to create an open partner ecosystem developing and sharing trustable IoT blockchain digital assets.
To meet real-world mission-critical IoT application needs, SDChain proposes the SDFT algorithm, incorporating the consistent Raft algorithm and the concurrent BPFT algorithm, committing transactions much faster than many of its peers, at lead time less than five seconds, with the capacity of processing more than 1800 transactions per second.
To commercialise SDChain technology from research labs, the SixDomainChain Foundation has appointed David Pan as the CEO of SDChain. Lately serving as the director of IoT Asia marketing at Arm, Pan brings 20 years of technology and finance industry management experience to SDChain.
"I am honoured,” said Pan, “to join SDChain to lead the group's effort in commercialising the blockchain-based IoT six-domain model, starting with east Asia markets, as businesses in this region demand standardised, cost-effective and scalable IoT blockchain.”
With more than 2000 China-based IoT enterprise members, the China IoT Industry Application Alliance (CIOTIAA) has agreed to adopt SDChain in its online and offline blockchain technology application curriculum in 2018.
"The real-world IoT practice will benefit from a standardised and sharable data exchange system,” said Wei-Qi Yang, secretary general of the CIOTIAA . “SDChain offers such key benefits adaptable to our members' IoT needs, to help them save costs in implementation and project maintenance. We are happy to promote and train our members on applying SDChain to their enterprise needs."
With decades of semiconductor commercialisation experience and electronics manufacturing, Taiwan is the heart of the world's ICT industry. Pin-Hsien Liang, chairman of the Taiwan IoT Association and Flowring Technology, added: "We are happy to bring SDChain to our IoT system integrator and manufacturer association members. SDChain, backed by international standards, will help guide us in understanding IoT globalisation requirements."