Blockchain and Internet of Things Consortium Progresses Towards Ecosystem Protocol Integrated with Ethereum, Hyperledger, and More

SAN FRANCISCO, April 19, 2017 /PRNewswire/ -- Earlier this year, a group of five enterprises and six startups gathered to start to advance the blockchain and Internet of Things ecosystem. Skuchain and Chronicled in collaboration with the members of this group today launched 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 more of the problems that plague digital economies today.

Today's launch of the common registration protocol brings industry and commerce legacy systems one step closer to secure interactions with cryptographic networks. This will fundamentally change the approaches to computing that underpin today's IoT device identities, sensor data, and business logic.

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. Not only does this demonstrate the broader commercial and industrial potential of this technology, it supports the blockchain and IoT ecosystems and advances progress in these sectors.

Among 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. Startups 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, a German-based technology company that recently raised a $2M seed round said, "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."

Maurizio Greco, CTO of Chronicled said, "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."

Press Contact:
Zaki Manian, Founder, Skuchain
[email protected]

SOURCE Skuchain

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