NEM Ventures Announces Investment in IoDLT

NEM Ventures, the venture capital and investments arm of the NEM blockchain ecosystem, has announced its investment in IoDLT (Internet of Distributed Ledger Technologies), a B2B blockchain and IoT-based startup. IoDLT utilises IoT and NEM Catapult to provide scalable, cost-effective B2B solutions that automate approaches to securely recording sensor-based IoT data directly to an immutable, distributed, and trusted ledger.

David Mansell, Director and Co-founder of NEM Ventures, said:

“We see huge potential in IoDLT, and are thrilled to be investing in a startup with significant potential for scalability. Facilitated by NEM Catapult, IoT devices connected directly to the blockchain will have a wide array of industry applications. We’re excited to be at the intersection of blockchain and IoT, and to see first-hand the solutions that can be put in place to increase business efficiency and security.”

IoDLT’s core product is a small form IoT device which runs a NEM Catapult node (or entire private chain) to allow direct connection of various sensors and computing capability to a Catapult chain. This provides the full functionality of a blockchain solution at a fraction of the cost and can be used in a Private or Public chain scenario. Their solution will enable any business to utilize NEM Catapult’s features, including decentralized swaps between businesses, on-chain account systems, two-factor authentication, user data management, and secure business logic modeling.

With security and decentralisation at the forefront of its solutions, IoDLT has a strict no-central-server policy and all data is either stored privately, publicly on the blockchain, or in distributed storage, and is encrypted to ensure maximum data integrity. IoDLT’s solutions feature realistic implementations of the NEM blockchain and IoT that integrate seamlessly into already-established business operations, with tangible applications across the Artificial Intelligence (AI), healthcare, insurance, manufacturing and supply chain, agriculture, fintech, alternative energy metering, and accounting industries.

IoDLT plans to release a disruptive blockchain and IoT healthcare management solution within the next year, leveraging NEM Catapult to facilitate patient management, administration processes, decentralized records, Internet of Medical Things, and audibility. This solution will save time and cost processing while streamlining stakeholder relations, and will cater to doctors, patients, and health insurance companies. IoDLT currently has a pilot medical clinic in place to test this solution before its official launch in Q2 2020.

Bader Youssef, CTO of IoDLT, said:

“We strongly believe that businesses should respect their users’ data, and NEM Catapult makes this all possible. Its highly performant, secure, and modular nature allows us to have full flexibility with our solutions. Catapult allows us to focus more on providing high quality solutions, rather than worry about the safety and complexity of the technology. IoT devices benefit from this simplicity, as Catapult can interact with nearly any language and platform that supports the ability to make API calls and allows the devices to communicate securely. As a result, we can allow any business to utilize a fully secure and private blockchain and IoT solution, without the huge overhead costs.”

About NEM Ventures

NEM Ventures is the venture capital and investments arm of the NEM blockchain ecosystem. Specialising in high tech investments, NEM Ventures promotes the growth of the ecosystem through strategic investments in projects which align with the ethos of the NEM community. NEM Ventures was mandated by the community in a public vote to manage a pool of reserved funds to meet these aims.

NEM Ventures focuses on projects which demonstrate a truly differentiated product, the ability to generate positive net income in the medium term, and founders who showcase the desire to move the blockchain ecosystem forward. Founded in 2018, NEM Ventures is a relatively new member of the NEM ecosystem and comprises a small, highly motivated team of investment and technology professionals.

About IoDLT

Founded in 2018, IoDLT (Internet of Distributed Ledger Technology) utilizes two disruptive technologies - Internet of Things and blockchain - to provide seamless, secure, and scalable B2B solutions. IoDLT brings security to small and large businesses alike, without compromising user data privacy and user-to-business interactions. Their technology’s application spans a wide range of industries, namely healthcare, agriculture, supply chain, and energy metering.

Alongside providing business solutions, IoDLT envisions a future run by embedded devices. Securing those devices will become imperative to the operations of any business. IoDLT deploys proprietary and affordable IoT to blockchain protocols to secure the devices of the world.

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Some early media coverage coming in:

https://www.the-blockchain.com/2019/07/31/nem-ventures-investments-in-iot-based-startup-iodlt

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Hello NEM Community!

Bader Youssef here, CTO of IoDLT. I’d like to update you on IoDLT’s progress for the last month or so. It is very important to us to keep the community informed of our new developments, and to show the usage of Catapult in an actual, real world business.

To keep it concise, we have compiled bullet point updates and photos that highlight what we’ve done since our investment from NEM Ventures:

  • We are currently developing three different variations of our product, which are each coming along nicely. Each these will help us with any consulting work as well as our own products, such as our medical solutions:

    • Small-form, general purpose board-to-blockchain development that utilizes a microcontroller and Raspberry Pi Zero. This board will be able to plug-and-play with many different sensors, enabling rapid prototyping and product development (compatible with the Arduino IDE). These devices will be able to both react to data, as well as send their own data to Catapult.

    • RFID / NFC identification for IoT devices, allowing us to uniquely identify and track the provenance of each IoT device. The example shown is an NTAG215 on a plastic box, which is scannable via an app. As you can imagine, this opens up possibilities as far as providing more business verticals that can utilize this technology.

    • Testing IoT nodes with new Raspberry Pi 4 - with the last iteration, we were able to a respectable TPS on private chain settings (state hashing enabled). So far, we have a tri-node setup that has been working quite reliably for the past week. At the time of this writing, we just hit 15k blocks and 12.6k transactions with little-to-no performance drops. We’re using the newly-released Elephant 3 release, which has been running extremely stable! It’s quite cheap to run as well :wink:

  • IoDLT is now a published Knowledge Partner on IoT For All, and we are able to publish any content related to blockchain and IoT. Our write-up on anti-skimming in gas stations was posted there recently. Of course, this allows us to bring Catapult to a more mainstream audience.

  • We were contacted by a state goverment agency regarding our gas station skimmer write-up from IoT for All. They had wanted more details on how the technology works and an estimate on cost to deploy our technology.

  • We are currently working on quoting a Catapult blockchain solution for a smart energy metering company.

  • A business in South America contacted us regarding implementing a solution for ATMs in South America (similar to our gas pump article). We plan to release an ATM anti-skimmer article soon as a follow-up to our gas station one. It will be quite an involved solution and we will be excited to release it!

  • Completed a video interview with Alexis from NEM Español.

  • We are also contributing to opensource Catapult where we can (catbuffers, input on various issues such as migration) where we can. We will continue to do so, and we may opensource some of our node tooling (GUI, CLI) for the benefit of the community.

We are in full development mode, and very dedicated to getting a working product that utilizes Catapult out in the real world. We are very grateful for having NEM as a platform to build our business on, and promote it wherever and whenever we can! Feel free to message me any time on Telegram @crackthec0de if you have any questions or just want to chat. You may also email us at [email protected]

Thank you for your time, and keep building!

Bader Youssef, CTO of IoDLT

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Happy to see such a progress. Keep them coming and all the best in your endeavor.

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IoDLT October Update


Hi NEM Community, Bader from IoDLT here!

IoDLT has compiled an update that reflects the last month’s progress. We’re excited to share this update with the community. A lot of the core development and planning centering around our device, Axon, occurred during this time. Three months since the investment, the team is working hard to push our Catapult based solutions ASAP!

Tech Progress

This month, we introduced Axon, our core IoT product that will be used to power most of our solutions:

Axon’s logo and 3D mockup (logo is inspired by biological axons which are the primary transmission lines of the nervous system)

  • We have made significant progress on our core technology that powers Axon, a Catapult-enabled, modular, programmable IoT device. We introduced Axon as part of our drone article. Axon can record data directly to Catapult, and the functionality for Axon to receive commands from Catapult (i.e “unlock this electric lock”) should be finished by the beginning of next month. Axon can be used for a wide range of applications, and it is critical for the deployment of our proposed medical solution.

  • Axon has a core written in the Rust programming language that handles low-level memory management and serial communication. Our software also exposes a JavaScript / TypeScript interface, as NEM SDKs are most kept up to date in JS / TS.

  • Axon creates a cryptographic ID for itself that is read-only for the device locally, and is never transmitted over any network connection. Using Catapult, an Axon device can either be owned through multisig or through metadata tagging.

  • Axon is programmable with the Arduino IDE, a highly supported and easy to use microcontroller development environment. Axon has its own C++ Arduino SDK that allows us to develop a custom solution very quickly. Arduino support also means we can use any standard digital, analog, or serial-based sensor (or all at the same time) for our applications.

  • We are working on Axon’s design and enclosure, and have a rudimentary 3D mockup for how the device will look visually. You can find this (crude) mockup here: https://www.vectary.com/viewer/v1/?model=f650ccf0-3d26-40b7-81d1-0d88ac51d9ff

  • As we have Axon in a functional state, we will focus on creating a finalized board and enclosure in the coming months.

Axon development board. This board we put together supports hot-swapping different components (MCU) for faster development times.


A more compact version of the above development, except with the microcontroller soldered on. The alpha version of Axon will be more compact and fit into a designated case. The picture on the right has a DHT11 temperature and humidity sensor attached to Axon.


Our IoT nodes are being tweaked and developed, and while Axon takes shape, the needs for how the optimal IoT network are being made known.

  • Due to some development delays of Catapult (catapult-rest and nem2-js-sdk), we were unable to fully test our IoT nodes. However, we have created a suitable network configuration that should, in theory, support a substantial number of devices recording to Catapult. We still have yet to actually test this, and with Catapult being very advanced as of this update, will become a priority to test and fine-tune the configuration.

  • Our IoT nodes are moving to a more sustainable SSD setup and battery UPS backup solution.

Pilot Progress

  • Development of Axon is laying a solid foundation for use in Medical clinic settings. Axon should be able to utilize medical grade sensors.

Articles / PR

  • Releasing our ATM Skimming article, we introduced the concept of an IoT Skin. This was published on Hackernoon, and is pending publication on IoT For All. Within, we detailed an end-to-end solution that uses Catapult to secure the ATM machine from skimmers.

  • Released our drone delivery article, where we introduced Axon. This is currently pending publication on IoT For All. As with previous articles, we detailed an end-to-end solution that uses most features of Catapult, such as mosaic restrictions, mosaics, aggregate transactions, and multisignature.

  • We are working on revamping our website to make our company vision more apparent and have clear product offerings.

  • Note: While most of the feedback on our articles is positive and enthusiastic, some may perceive the diversity of topics discussed in articles as a distraction or lack of focus. We want to reiterate our goals for writing these articles:

    • Spread awareness of NEM Catapult’s versatility as a DLT/Blockchain technology.
    • Establish ourselves as an authority in an increasingly relevant niche combining IoT and DLT.
    • Demonstrate the versatility of our core product so far, Axon.
    • Providing real world business use cases utilizing IoT and NEM Catapult.
    • Crafting these articles motivates us to learn about the latest trends in our niche, and gain insight into the direction that the industry is heading.
    • These articles generate PR for our company.

We are in talks with companies that wish to integrate our solutions.

We are very grateful for the community and NEM Ventures’ support in bringing this project to fruition. We are working long and hard to build a legitimate, real use case for NEM and Catapult.

Put any questions or feedback you may have below, we look forward to hearing from you!

Thank you for your time,

IoDLT Team

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Looks awesome! I can imagine there would be huge interest with integration into things such as smart lightbulbs, etc. There is so much uptake on IoT devices right now, and it’s only going to get bigger.

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Huge congrats on the advances, the prototypes look great! There is indeed a huge market waiting for actionable, easy-to-use IoT tech at user level. Keep the good job and please keep updating here, I’m learning a lot! :grimacing:

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Hi IoDLT team, good to read the progress updates and great to see your role in being an evangelist for NEM Catapult!

I really like the drone delivery article specifically, a strong and relevant use case.

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Awesome job and big congrats to the IoDLT team!

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