Use Case: IoT to be validated on Credits Public blockchain case
Credits is delighted to share the bullet points of the joint case aimed to create new IoT models, which integrate blockchain technology with the IBM Watson IoT™ Platform and IBM Cloud infrastructure.
The solution is designed to offer a tamper-proof of the IoT indications in the public view along with the speed required to register a huge quantity of indications into a public blockchain at a very affordable cost, thanks to efficiency, velocity and capacity that Credits platform can offer.
We assume that a predefined number of Internet devices constantly generate data streams with various indications.
These streams represent data indications in various formats in real time environment, hence data from all devices is being collected by the IBM IoT Platform, a system capable of converting the data stream into a standardized data format and then transferring further to storage and/or analytics.
While that data must be analyzed, the IoT Platform contiguously feeds a standardized data stream to the IBM Analytics platform.
Based on it’s built-in algorithms and logic-rules, the analytics platform collects, converts and calculates the result, configures and creates a package (dataset) for further permanent storage (it may contain after processing data or primary generated data).
At the next step a new hash which characterizes only this dataset is associated within the package. Then the analytics platform saves this dataset in the IBM Storage cloud and the calculated hash is being stored in the Credits blockchain platform.
When a user needs to validate any stored dataset, he requests it via the validation system. In its turn, the validation system requests the data from the IBM Storage system as a dataset.
Alongside with that, the validation system requests the hash for this dataset from Credits platform (identification based on a compound key consisting of a block’s timestamp and node’s identifier as a method for determining the package/node transmitter).
Further for double-entry validation the validation system receives the hash for this dataset that is being generated instantly from IBM’s Storage by using the same hash function with Credits one.
If the hash stored in Credits system and the hash generated on the data basis are equivalent, it means that the data has not been changed during the storage and a user can trust the received data.
All of the above effectively establishes a complement functionality to IBM IoT platform. This use case is applicable for industries/market segments where high quality data collection from sensors/gateways and reaching consensus regarding their content is vital for the further financial or control transactions between market participants. The industries include, yet are not limited to transport and logistics, mining, smart cities, housing and public utility sector and resource supply.