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Filament Receives Frost & Sullivan’s Visionary Innovation Award for its Automotive Blockchain Solution

October 3, 2018

RENO, Nev., Oct. 03, 2018 (GLOBE NEWSWIRE) -- Filament, provider of comprehensive blockchain solutions for the Internet of Things (IoT) and the enterprise, today announced that it has earned a 2018 Visionary Innovation Award for its leadership in the automotive enterprise and Industrial Internet of Things (IIoT) market from industry research firm Frost & Sullivan.

Frost & Sullivan recognized Filament for its unique, secure automotive blockchain solution for connected industrial infrastructure. Its value to the automotive industry extends from improving logistics by tracking the provenance of vehicle parts through generating trusted vehicle usage and component lifecycle ledgers, ensuring transparency in supply chains and monetizing deployed assets. As such, the research firm believes Filament’s approach to defining and producing a much-needed solution will help it become the most efficient, transparent and reliable solution provider in the automotive enterprise and the IIoT industry.

“We consider Filament’s solution as a game-changing innovation,” said Jagadeesh Chandran, industry analyst, business strategy and innovation, Frost & Sullivan. “The company is laying a strong foundation for the next industrial revolution by enabling blockchain-native transactions between connected physical objects and the Internet economy. With its strong overall performance and a significant lead in delivering much-needed technologies to industrial corporations and enterprises, Filament is a true visionary leader.”

Filament’s Blocklet Chip™ and Blocklet™ USB Enclave are the industry’s first IIoT blockchain-native hardware products created to extend the value of the IoT by allowing companies to securely transact value and achieve monetization of connected equipment. By making it possible for physical assets to become direct participants in secure blockchain applications, Filament is enabling e-commerce for machines.

As noted by Frost & Sullivan, Filament provides strong privacy and security features within its Blocklet solutions. The firm states that the growth of connected vehicles on roads will lead to an increase in the number of IoT devices, which can potentially create vulnerabilities. Filament enables a decentralized solution and helps the blockchain ensure proper access control, identity management and data integrity with cryptocurrency proofs.

“Filament is honored to be recognized for our work in the automotive industry,” said Allison Clift-Jennings, CEO, Filament. “With so much technology disruption, auto makers and suppliers are actively looking for new ways to monetize IoT assets so they can compete in the digital future. Filament’s Blocklet technology does more than gather useful insights about automotive equipment; it delivers new, immutable and trusted data that has transactive value. Our work with automotive customers is incredibly exciting as its changing mobility as we know it.”

Filament’s IIoT blockchain technology is currently being used in the automotive and transportation sector to track, validate and monetize vehicle and parts history, leasing terms, usage-based systems, supply chain operations and more.

Frost & Sullivan Awards are conducted in accordance with its 360-degree methodology which offers a complete view of industry challenges, trends and issues. For the Visionary Innovation Leadership Award, Frost & Sullivan analysts independently evaluated Filament on 10 criteria relating to two key factors — Focus on the Future and Best Practices Implementation.

The award will be presented to Filament at Frost & Sullivan’s Growth, Innovation & Leadership Awards Gala in San Diego, California on October 3, 2018. Read more about Frost & Sullivan’s Visionary Innovation Leadership Award for Automotive Enterprise and Industrial Internet of Things.

About FilamentFilament builds comprehensive blockchain systems for the enterprise and the Industrial Internet of Things (IIoT). Its hardware, software and service solutions allow connected devices and machines to securely interact with and transact value against distributed ledger technology such as a blockchain. Filament is headquartered in Reno, Nevada with offices in Denver, Colorado and Saint Paul, Minnesota. Learn more at filament.com.

About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.

Filament and the Filament logo are registered trademarks of Filament in the U.S.A. and other countries. Blocklet and Blocklet Chip are trademarks of Filament in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

Filament Media ContactChristy KempDahlia Public Relations303-898-3390 ckemp@dahliapr.com

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