The advent of Blockchain and Distributed Ledger Technologies enable IoT and smart city application developers to conceive new types of applications and solutions for identity management, trust, and data monetisation. Real-world IoT deployments are being scaled up and starting to rely on software and hardware infrastructure owned and managed by multiple organisations and stakeholders.
As IoT deployments start to scale to city-wide including through data marketplaces and subscription-based communication model, devices will have to rely on hardware and software owned and managed by different stakeholders. And its a foregone conclusion that in multi-stakeholder deployments, there is a need to guarantee trust, security, and privacy to encourage the IoT device owners and application developers to engage with third-party IoT service and data providers.
Dijets reference architecture identifies and addresses four key components i.e payment, record, identity, and control which are central to resolving the micro-payment and trust issues for large scale IOT Application deployments between multiple stakeholders.
dApps under development using the Dijets reference architecture include 1. A Blockchain-based Identity Management Platform for IoT and a dApp for Data Monetisation through Micropayments. The architecture for a blockchain-based peer to peer IoT application has to have various communication channels between peers to deliver the desired functionality. Keeping that in view Dijets reference architecture includes built-in key communication channels that we believe are required for building peer-to-peer blockchain-based IoT applications with support for data monetisation.
This channel is typically used to interact with a smart contract or other decentralized application hosted on a blockchain platform.
This channel is responsible for handling micropayments between peers. The peer that initiates the transaction requires hardware support to prepare and submit the transaction to the blockchain platform.
This channel is used to register, manager, and query identities from the underlying blockchain-based identity management platform.
Since the peers exchanging services with each other through a blockchain platform, each and every transaction has to be recorded in the ledger to go back and verify the activities in case of disputes.
The opportunity we have is to build a secure, intelligent platform that solves some of the world’s greatest problems at scale. That’s what’s possible with hundreds of billions of connections and the capabilities that we can deliver together.
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