Blockchain startup Filament announced a new microchip that will allow companies to connect industrial devices, shipping containers, and similar assets and enable them to communicate with blockchains, according to VentureBeat.
The new Blocklet chip allows connected devices and equipment to complete transactions on their own and create contracts that are recorded on a blockchain based on rules and procedures set by their operator.
Filament’s new chip offers a prime example of one way that companies can use blockchain within the context of an IoT solution, providing an alternative to cloud-based systems and enabling device-level automated commerce.
Filament’s chip will augment the company’s blockchain-based IoT solutions, which use custom hardware paired with software to connect devices to a blockchain, CEO Allison Clift-Jennings previously told BI Intelligence. The company’s solutions use the open-sourced Hyperledger Sawtooth blockchain, though it’s also looking into support for the more commonly used Ethereum blockchain ledger, as well Hyperledger Fabric. That should help Filament provide customers with more choices, for instance, by enabling its solutions to support Bitcoin-based microtransactions.
Here are some ways companies could use blockchain for IoT devices with the Blocklet chip:
- Connected shipping containers could autonomously record, share, and even arrange much of their transit.Using preset rules, a container originating in China, for example, might be put on a truck and delivered to a port where it would check container ships’ rates for various vessels heading to its destination, and then arrange and pay for transit through the shared blockchain. It could also record and share location and arrival data, and arrange transportation from a port to a warehouse through the blockchain, sharing this information Read More Here