The IOTA Foundation, a non-profit organization, is delivering the world's first scalable, feeless and decentralized distributed ledger technology, has launched Industry Marketplace,. The Industry Marketplace is the world's first decentralized marketplace which will automate the trading of physical and digital goods and services throughout the advanced manufacturing and factory marketplace.

The manufacturing industry will have a new, trusted resource as it advances into the world of machine-to-machine (M2M) autonomous functions.

A non-profit organization, the IOTA Foundation, and a group of academic and technology enterprises has announced the launch of the Industry Marketplace.

It will serve as a vendor- and industry-neutral platform, automating the trading of physical and digital goods and services. The Industry Marketplace combines distributed ledger technology and immutable audit logs. This is through Industry Marketplace collaborator's eCl@ss standardized, machine-readable contracts with an integrated decentralized identity system. It will ensure the authenticity of all participants and enable secure communication and payments across the industry landscape.

The Industry Marketplace has been developed as an open-source initiative and is free to join.

Highlights include:
Vendor- and industry-neutral platform and communications.
Standardized communication for contracts, product data, purchasing, bids, orders, services.
Implementation of the Industry Platform 4.0 principles for driving forward digitalization and manufacturing.
Semantic language, based on open standards, developed by Platform Industrie 4.0 and academic institutes, as well as industrial non-profit organizations such as eCl@ss.
Decentralized and globally accessible protocol with paramount security
Low system requirements.
Integrated decentralized ID, to ensure the authenticity of all participants.
Integrated payment option for goods and services, without transaction fees.
Payment Queue to execute outgoing payments in high frequent environments, e.g. buying many individual data sets, like weather data.
Immutable audit log for every step (including payments) to be compliant with regulatory aspects, digital trust as design principle through the IOTA's signature technology, the Tangle.

Founding participants include: eCl@ss, Neoception, Otto von Guericke University Magdeburg, Helmut -Schmidt-University Hamburg, WeWash and the IOTA Foundation.