Where we areWhenever there is talk about the intrinsic value of a currency, there is a silent agreement. The basis of every assumption is, that people trust and use the currency. Up until now there is nothing more than trust forming the foundation of every measure of value.
Bitcoin opened the world of trustless transactions. And yet it still needs the trust, that other people will accept it. That you will ultimately be able to buy a product with Bitcoin.
The question is: Can there be more?
True Smart PropertyThe idea of smart property, physical devices identified in a cryptocurrency, has been mentioned in the past. But neither is it more than idea nor has it been thought to the end.
To really see what is possible, one has to turn away from the virtual world and take a look into the physical world.
According to an article of the emarketer, the number of smartphone users is drastically on the rise, reaching almost half of the world’s population in 2017. At the same time more than 90% of mobile phone users are online.
More and more electronic devices are connected to the internet and even require a connection to operate properly. Cars, Televisions, Bikes, and even some refrigerators are online at this day. An enourmous amount of value is connected to the net and the number grows steady and fast.
At the same time computers have reached a miniaturization level that brought forth one board computers like the Raspberry Pi or Odroid U3, providing large amounts of resources on smallest scale.
These are the things present in the physical world. Billions of powerful and expensive computers, many tiny in size, most of them connected to the net. On the other side, in the virtual world, there are cryptocurrencies. And while they allow to create tokens of ownership and and decentralized marketplaces, their value is still not more than the trust they hold.
After connecting the dots, there is only one conclusion.
Creating true smart property is not a question about “if”, but “when”.
KeystonesKeystones is a work in progress which will allow to connect physical ownership of electronic devices directly into a cryptocurrency. This will render anything connected to the cryptocurrency virtually theft proof. When a device is taken from the owner, it will stop working soon after, rendering the device useless and ultimately an uninteresting target in the first place.
At the same time the ownership of a device can be freely traded from one person to another. Soon after the trade occurred the device will only work in the presence of its new owner.
While this may seem impossible at first glance, it is only as long as someone makes it possible.
The solution is a system composed of several parts. A lock in an electronic device and a key held by the owner will together determine that the secured device is still in the presence of its owner. If not, the lock will simply lock down the main device, rendering it useless.
In addition a cryptocurrency specifically tailored to the requirements of the project will be developed alongside the physical components of the project.
Together all these parts will bridge the gap between physical and virtual world and create a truly unique fusion of technology and economy.
While this may still seem impossible, the whitepaper will show that it is no fantasy, detailing the concept of the device and the logical demonstration why it works.
So, what now?We will release further information on the project during the coming month. The whitepaper, the team, a timeline, an economic model, details on the technology and the cryptocurrency and much more.
For all those who want to stay up to date and get the newest information directly to their doorstep, there is a mailing list to subscribe to on our website.
In addition to that, we will strengthen and expand our already existing social media presence to make sure all relevant information reaches everyone interested in time.
There will soon be more. To be one of the first to get the news, register to our newsletter on
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Reference:
http://www.emarketer.com/Article/Smartphone-Users-Worldwide-Will-Total-175-Billion-2014/1010536http://www.hardkernel.com/main/main.php
