IoToken

a standardized mechanism for smart devices globally to communicate with one another.

In order to bring about communications between digital assets owned by different organizations within a single ecosystem, a technology fabric needs to be in place. IoToken provides that digital fabric.

The world of IoT and Digital Assets manifests itself in silos of information. When these digital assets need to function in ecosystems that involve multiple entities and need to transcend trust boundaries, it poses a challenge with the status quo in technology. If the promise of smart cities or self-driving cars and other such initiatives are to come to fruition, it requires a technology substrate wherein digital assets can discover, authenticate, communicate and transact securely.

We have developed a Digital Asset Management platform that tracks asset performance and compliance utilizing IoT and Distributed Ledger technology. Our technology is end to end from data acquisition through sensors to Ethereum/IOTA integration. We have cracked the code for digital ID management, product provenance, information validation, usage based billing, and smart contracts for a sharing economy.

Core Features.

Digital Asset
Distributed Ledger

Universal Blockchain
Code (UBC)

Digital Wallet for
Digital Assets

Smart Contracts
for transactions

Ricardian Contracts
for legal termsger

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Common Use Cases.

Fast Food Drive Thru

Industry: Quick Service Restaurants

Most major fast food chains with drive through options generate over 70% of their revenues from drive-thru purchases. A car equipped with a Digital Wallet can now transact with a Fast Food drive through counter using this wallet. This improves service times, reduces wait times and long lines and has the potential to improve customer satisfaction and impact topline and bottomline financial metrics.

Counterfeit Prevention

Industry: Retail—Luxury Goods

Manufacturers of high end luxury merchandise have always sought to fight counterfeiters through a variety of means. Now, blockchain technology combined with our UBC code helps thwart counterfeiters. Our UBC mechanism also reduces or prevents counterfeits being sold in place of genuine products. Buyers can now verify the UBC on a product in real time on the blockchain versus replicas.

Appliance Warranty & Recalls

Industry: Consumer Electronics

Every manufacturer today has fragmented data as far device warranties, software updates, user guides, and more. When appliances change hands, many a time, warranty information is not updated and ownership changes not reflected in any official records.
This applies to cars, appliances, and most equipment.
With all equipment, universally adoption our UBC Code, it is becomes easy to trace and track information related to any device and ensure that relevant information is up to date.

Drone Delivery Logistics

Industry: Supply Chain & Logistics

Drones are autonomous devices that being used for a number of different applications from surveillance to product delivery. In the product delivery use case, we anticipate that similar to the FedEx or UPS rep having to need some form interaction at the point of delivery, drones will have to have a handshake with drone pad at the destination prior to a dropoff. IoToken would be a perfect mechanism for such an interaction.

Royalty Tracking

Industry: media

One of the challenges in media is the tracking and tracing of video and audio playbacks for the accurate computation of royalties.
This use case requires the media player to interact with the media digital asset prior to playback, a handshake is performed for validating digital rights and an authorization is given for playback to occur and a potential transfer of cryptocurrency per play.

Transportation Coordination

Industry: Smart City/Transportation

Many cities and countries around the globe have espoused the concept of smart cities. In Smart City transportation, there are several examples of transportation coordination that needs to happen. Interactions may involve Parking Meters, Traffic lights,
Toll booths and more.
IoToken coupled with Digital Wallets for these devices can help traffic move more fluidly by reducing the time it takes to transact, narrowing the scope for violations and much more.

Protocols.

Digital Asset Protocol (DAP)


Here, the primary operations are as follows:

  • Register:

    Register a digital asset

  • Ownership:

    Record and Maintain the ownership of an asset

  • Warranty:

    Record and Maintain the warranty on a given digital asset

  • Documentation:

    Record and maintain the documentation related to the digital asset

  • Software Update:

    Perform over the secure firmware update on devices that require this

Protocol is based of Proof of Stake and the device participating has to stake tokens.

Inter Digital Asset Communication Protocol (IDAC)


Here, the primary operations are as follows:

  • Discover:

    Based on decentralized ID and blockchain , discover the device

  • Authenticate:

    Using public key verify details of the device

  • Transact:

    Pay for transactions e.g. car wishes to pay parking meter

Protocol is based of Proof of Stake and the device participating has to stake tokens.

Get Started with IoToken

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