Blockchain and Internet of Things Consortium Progresses Ecosystem Protocol
Skuchain and Chronicled, in collaboration with the members of five enterprises and six start-ups, have announced the launch of an IoT ‘thing’ registration API supporting Ethereum, Quorum, and Hyperledger blockchain implementations. The protocol allows users to register multiple kinds of weaker identities, including serial numbers, QR codes, and UPC code identities, and bind them to stronger cryptographic identities, which are immutably linked across both physical and digital worlds using blockchain technology.
Blockchain technology is driving a broader trend towards securing digital identities of people, organizations, and physical objects. Machines capable of cryptographically-secured transactions can prevent hacking, data breaches, and many of the problems that have been encountered in digital economies currently. The launch of the common registration protocol brings industry and commerce legacy systems closer to secure interactions with cryptographic networks.
In support of the protocol, members of the group are moving forward with several proof of concept projects at the intersection of blockchain and IoT in order to demonstrate the broader commercial and industrial potential of this technology and support the blockchain and IoT ecosystems and advances in these sectors.
Amongst these projects, Cisco is exploring using the protocol to register device identities and associated data, whereas Bosch has completed work to register automobile odometer readings on the blockchain to prevent fraud. Start-ups are also working towards PoCs. Chronicled is completing a PoC wherein pharmaceutical serializations and temperature tracking data are logged on the blockchain, and Skuchain is using the technology, along with smart contracts, to support supply chain functions and efficacy in the aerospace industry.
Stephan Tual, COO at Slock.it, stated: “We are very excited to support the linkage of IoT technologies and blockchain technologies, and look forward to building many use cases with clients and partners.”
CTO of Chronicled, Maurizio Greco remarked: “In the days of the railroad industry, there was a need to create standard dimensions for the gauge of the rail and width between the rails. Similarly, in the IoT and blockchain space, by creating standards around basic functions, such as registering cryptographic public keys to blockchain systems for ‘thing’ identity verification, we can set a strong foundation for the growth of this exciting new industry.”