Company will integrate IoT ImpactLABS expertise into its core blockchain-based offerings to accelerate the ‘Supply Chain of Everything’
CAMBRIDGE, Mass., January 11, 2018 (Newswire.com) – Context Labs (CXL) announced today that it has acquired IoT ImpactLABS. The acquisition will further accelerate CXL’s blockchain-based Immutably™ platform in its movement upstream in the supply chain, enabling the “Supply Chain of Everything.” The acquisition will accelerate integration with IoT-connected devices, sensors and systems.
The world is in transition from centralized to decentralized structures. This relates to areas such as energy (e.g., distributed renewables), mobility (e.g., distributed ownership), land management (e.g., distributed finance) as well as currencies and markets in general. This trend affects all industries and it requires fundamentally new approaches (bottom-up rather than top-down) for industry and government. The private sector increasingly gets the message. The Context Labs product family has its core DNA in these transformative and disruptive technologies.
Commenting on the acquisition, Rob van Kranenburg, founder of the IOT Council and Chair of AC4, Hyper Connected Society, The European Research Cluster on the Internet of Things, stated, “The Context Labs combination with IoT ImpactLABS impacts the direction of a world in which every object will have a Digital Twin. As we build the ecosystem of digital twins, we best pay the utmost attention as we only get one chance of doing it in the most transparent and attested way. The Digital Twin may be a concept currently tied to Industrial IoT, but we are moving to a place that is more mainstream. Context Labs is leading a major step in this direction.”