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CONTEXT: As a digitalized society, we are empowering “things” with the ability to interact and transact with online platforms more and more independently.

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STATUS QUO

Crypto software is used to assign unique digital identity to the connected object.

LIMITATIONS

Connected devices are goldmine for hackers, who target both the device itself as well as the data transmitted by that device.

RIDDLE&CODE SOLUTION

Embed a highly secure blockchain-backed crypto hardware, which stores the private key ‘off the bus’, i.e. on the device itself (thus, both the device and the owner are protected).

BENEFITS

• Machine integrity: the storage of the private key "off the bus” prevents tampering with device
• Machine identity: securely connected to the blockchain, generates a unique digital identity for all connected physical objects that can be used to communicate and transact fully autonomously
•Machine transaction: enable peer-to-peer dis-intermediated transactional capabilities (sending of data, reception of data, transfer of digital goods such as currencies, etc.)

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STATUS QUO

• Connection via central server
• M ultiple protocols

LIMITATIONS

• Network failure: control servers at heart of networks represent single points of failure
• High infrastructure and maintenance costs: centralized networks re quire superior protection, as both data and the server storing it can be targeted

RIDDLE&CODE SOLUTION

Devices register on the blockchain using their unique digital identity and act as active nodes on decentralized networks.

BENEFITS

• Powers a decentralized global network that is scalable to support billions of devices without committing additional resources
• Machine transaction: enable peer-to-peer dis-intermediated t ransactional capabilities (sending of data, reception of data, transfer of digital goods such as currencies, etc.)

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At manufacturing point, the crypto hardware gets physically connected via I2C to the device. Immediatly after, it gets provisioned* and attested** on the blockchain with relevant metadata.

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When a light pole needs to be repaired, it can automatically publish a job offer containing all the specifications to be done and the price to be paid.

Anyone in this marketplace can apply for this job offer.

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Once the light pole is been repaired and its validated on the blockchain, the electrical technician gets directly paid by the light pole, thanks to its transactional capabilities.

*Process by which the key pairs are created. **Process by which the public key of the crypto tag is registered on the blockchain of choice. The attestation also includes an update according to any smart contract that might have been set up between the parties involved in order to guarantee certain processes for their IoT case.

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