aitos.io delivers keynote speech during Haier and China UnionPay Global IoT Payments Joint Innovation Lab Opening Ceremony
aitos.io delivers keynote speech highlighting its “BoAT solution for IoT Financial Service” as Haier and China UnionPay establish Global IoT Payments Joint Innovation Lab.
On December 10th, during a 2020 China IoT Payment Summit held in Qingdao, China, Mr. Leo Lin, CEO of aitos.io, monetized the value of IoT payments with a captivating and timely speech titled “BoAT: A Trusted Entry for IoT Financial Services”. At the forum, China UnionPay signed an IoT payment cooperation agreement with Haier Smart Home Co., Ltd. and Haier Internet of Clothing, both under Haier Group , which led to joint establishment of a global IoT payment innovation lab.
By combining the expertise of Haier Smart Home Co. , Ltd., Haier Internet of Clothing (IoC), and China UnionPay, a strategic three-way cooperative agreement was successfully signed for the Internet of Things payment and the establishment of a Joint Innovation Lab.
During a break in the action at the summit, the strategically important three-way signing ceremony for strategic cooperation agreement on the Internet of things payment was initiated between Haier Smart Home Co., Ltd, Haier Internet of Clothing and China UnionPay. The three parties agreed to mutually-leverage and carry out their respective IoT Payment business based on Smart Home topography. China UnionPay was instrumental to leverage its payments processing platform capabilities, Fin-Tech advantages and ability to manage resource integration to help the IoT business payment processing flow smoother in various payment scenarios. For the physical Smart residence and Internet of clothing payments use cases, all agreed to build up application usage.
The second major activity taking place at the forum was the establishment of the “Global IoT Payment Joint Innovation Lab”. The three parties agreed to jointly track and study the development and application of smart devices based on the IoT vertical market use cases. They plan to carry out research practices around the pioneering area of IoT payment technology, data security, and specifications. The goal is to explore and formulate industry standards and specifications for smart home appliance Internet of Things payments, while building a smart device IoT ecosystem. This will help promotes the coordinated development of the smart IoT industry.
BoAT helps to build trusted and credible IoT financial applications , and blockchain technology empowers Internet of Things payments.
aitos.io was invited to the summit together with Haier IoC, NFEC, China UnionPay, China Financial Technology Testing Center, Qualcomm, Infineon, GANDAO to focus their energies on specific details of IoT payment uses cases, standards, testing and certification and chip-level Security. The topics also extended into cutting-edge solutions, such as AI and blockchain integration in the field of Internet of Things payment.
Mr. Lin, candidly touched on key points, gesturing the very real fragmented nature of the IoT Payment use cases; thus, Finance-level security standards, testing and certification are usually too complex to carry out for IoT devices in various forms. He delivered a complete overview of aitos.io’s progress in the realm of financial empowerment for the Internet of Things. By selecting modules that support the “BoAT: a trusted application framework among traditional IoT devices, financial application capabilities can be imported into various IoT devices quickly, safely and at low cost. aitos.io is jockeying to become a key contributor to the construction of the Internet of Things payment system together with experts in the Internet of Things payment industry and business representatives. ”
About aitos.io:
aitos.io is a technology startup focusing on trusted identity authentication and data privacy-preserving for AIoT enterprises. Capitalizing on the rich resources of the global IoT industry, aitos.io has been instrumental to successfully navigate the fragmented IoT vertical industry with an advantageous early adoption strategy for surging cellular IoT platforms. The mission statement of aitos.io includes the ability to leverage the global alliance of cellular IoT manufacturers to empower IoT device manufacturers to tap the value of applications and data. At the beginning of the project’s launch in the second half of 2018, aitos.io obtained angel investment from IoT industry expert groups and strategic investment from Wanxiang Blockchain aitos.io also became a member of the sixth phase of the ARM accelerator growth camp.
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