Vodafone has launched an Economy of Things platform called Digital Asset Broker (DAB) to grow its Internet of Things (IoT) business.

Vodafone’s Internet of Things (IoT) business has 140 million customers.

Economy of Things platform from Vodafone allows verified connected devices, vehicles, smart street furniture and machines to transact seamlessly and securely without human intervention, but with full owner control.

The number of connected devices is predicted to grow globally to 30 billion by 2025.

With Vodafone’s platform and geographical scale, rather than businesses building their own complex system, any device is assigned a unique digital identity. It can then communicate and transact securely with other devices using wallet and payment technology secured by the mobile SIM.

In addition to devices on Vodafone’s IoT platform, the company will provide secure links to many other third-party platforms and their associated device eco-systems, Johan Wibergh, Vodafone Chief Technology Officer, said in a news statement.

The secure platform uses the blockchain technology ensuring that all devices and machines connected to Vodafone DAB are verified as trustworthy and then automatically allowed to exchange and trade data and money over secure and encrypted connections.