Chronicled and Qtum combine blockchain and IoT
January 4, 2018
California-based Chronicled is working with Singapore’s Qtum Foundation to combine the IoT with blockchain technology, developing real-world use cases integrating smart devices with a secure distributed ledger back end.
This will take place in collaboration with researchers at the University of California, Berkeley. Through this partnership, Qtum and Chronicled will work together to define and support a roadmap of fundamental research at UC Berkeley, developing post-quantum applied cryptography, zkSnark-based privacy-preserving smart contracts and zero knowledge proofs for large computations.
"The partnership with Chronicled and UC Berkeley represents the frontier of innovation in IoT, smart contracts and privacy for enterprise applications," said Qtum Foundation founder Patrick Dai. “We are delighted to be partnering with some of the strongest researchers and innovators in the world who are leading enterprise implementations.”
Qtum is developing a blockchain data network in Asia, using a hybrid model that combines the UTXO transaction model with a virtual machine layer for smart contracts. Meanwhile, Chronicled will pursue development of smart contracts to integrate IoT device registrations on the Qtum blockchain.
Both Chronicled and Qtum are members of the Trusted IoT Alliance, a consortium of companies ranging from start-ups to Fortune 100 enterprises. The alliance is focused on leveraging the power of the blockchain to secure high-value physical assets. Members of the alliance, which is based in San Francisco, include Bosch, BNY Mellon, Cisco and UBS.
"We have been collaborating with the team at Qtum for almost a year through the Trusted IoT Alliance, and we are excited to bring the latest IoT integration capabilities to Qtum," said Chronicled CTO Maurizio Greco. "We see a future where trusted device provisioning, authentication, data logs and payments are just around the corner."
Researchers at UC Berkeley are focused on using applied cryptography to develop technology for identity, ownership and provenance validation as well as other use cases at the intersection of blockchain and IoT. Through collaboration with Chronicled and Qtum, they hope to devise real-world use cases and gain insight from two teams that have been developing and applying the technology for enterprise customers.
"It is great to work with strong commercialisation partners who both value the need for fundamental research and who see a path to commercialisation of the applied cryptographic methods that we have under development in the lab," said Alessandro Chiesa, assistant professor at UC Berkeley.
Trusted IoT Alliance executive director Zaki Manian added: "We are excited to be in a position to administer development grants to integrate trusted IoT devices with the Qtum blockchain technology. We see a win-win for our members in the alliance and the Qtum ecosystem."
Based in the innovation hub of Silicon Valley, Chronicled is a technology company leveraging blockchain and the IoT to power smart, secure supply chains. Chronicled offers a blockchain-based smart supply chain platform and secures IoT device identities, data and event logs, and automates IoT-dependent business logic using smart contracts.
Qtum is a blockchain application platform. At its core, Qtum combines the advantages of the UTXO unspent transaction output model, an account abstraction layer allowing for multiple virtual machines, and a proof-of-stake consensus protocol aimed at tackling industry use cases. The Qtum Foundation, headquartered in Singapore, is a decision making body charged with accelerating the development of this open network and protocol.