GERMAN PUBLIC-PRIVATE CONSORTIUM STEPS INTO MACHINE-TO-MACHINE ECONOMY

Created by Berlin (oa)

Groundbreaking partnership demonstrates the practical application of Web3 tools.

The NEXA consortium of leading industry partners, startups, and non-profit entities across Germany is pleased to announce it is championing seamless collaboration between public and private entities within the machine-to-machine economy. Traditionally hindered by network silos and a lack of mutual trust mechanisms, such partnerships once posed significant technical and contractual challenges. The reluctance to share networks was a barrier because data sharing is essential for developing apps and generating revenue. However, with the use of Web3 technologies, cross-sector and cross-industry collaboration has become a reality, unveiling new business opportunities.

The NEXA consortium of strong and established companies include Vantage Towers, Staex, REWE Group's paymenttools, Lisk, Chirp Wireless, Germandrones, and Berlin Partner für Wirtschaft und Technologie. The dynamic public-private partnership is poised to revolutionize complex industry automation and management by asset sharing, data collection, permit and contract management, and machine payments. 

Powered by Staex, this initiative guarantees unmatched reliability and security, establishing a robust foundation for an autonomous business ecosystem. In this ecosystem, machines conduct tasks and transactions independently, minimizing the need for human intervention. This capability fosters cross-sector partnerships and industry collaborations, achieving a scale and level of automation previously unattainable. Leveraging Web3 tools, the group is launching and testing neutral platforms, built-in trust mechanisms, smart contracts, verified immutable data, and automated machine-to-machine transactions.

INDUSTRY USE CASE OF WEB3 TOOLS LAUNCHES DURING BERLIN BLOCKCHAIN WEEK 2024

To showcase the transformative potential of such alliances in automated systems, the consortium proudly launches the Web3 Drone Corridor in Berlin this month. Witness firsthand secure data exchanges and payment transactions between humans and machines, demonstrating the first step of interconnected industries. 
 

●    When: May 21st, 2024, 2:30 PM
●    Where: Im Marienpark, Berlin
●    Registration: Eventbrite.
 

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