[ANN] Keystone Assets - Smart Property Solutions

[Keystoneassets]

http://i61.tinypic.com/21m9ou9.jpg

Keystone Assets - Smart Property Solutions

The IPO has been delayed. Further information will be provided soon

What is it?

Keystones is a multilayer project aiming to connect a cryptocurrency with hard physical property, creating a unit of wealth with true inner value while providing a convenient security system for electronic devices. The project is currently leaving the concept stage and entering the prototype stage of development. Every major technical question has been answered.


Technology

Keystone will use cellular network technology as basis of its operation, utilizing existing infrastructure in a genuine new way.
Encoded in the Bitcoin blockchain is the ownership of a lock through a so called UIDS, a unique data structures stored in a ROM inside the keystone-lock and its digital representation in the blockchain itself. These UIDS are associated with a transaction and thus a public key in the blockchain and can be traded freely. The blockchain ensures a UIDS is unique and the association definitely with a public key.
The analogy of the public key in a classical lock is the keyhole. The lock communicates with the network on a regular basis to request the public key its UIDS is pointed to, changing its keyhole when a trade involving the lock has occurred. To ensure the information transferred to the lock is up to date, the request process will be repeated selecting random nodes of the network until the received answer can be overwhelmingly seen as correct. The only way to cheat the involved process is if over half the network is involved in a coordinated attack. And even then all an attacker can do, is to temporarily stall ownership update, but never fake ownership them.
The lock uses two channels to communicate with other entities. The Network will be contacted over cellular network, the key over short range Bluetooth.
The blockchain services required to run keystones come in the form of a protocol on top of bitcoin, using multisig transactions to store required information. The keystone clients interpret these transactions different than the standard bitcoin client and thus offer the functionality needed to support the physical locks. A secondary Ledger will be used to find consensus of system wide overhead.
We decided a top level protocol will have the best long term viability, as bitcoin as well as keystones will mutually benefit from each other. Keystone receives the security of the bitcoin blockchain as well as easy access to existing infrastructure. Bitcoin on the other hand will profit from additional functionality without the risk to break something in the base protocol.

Additional information will be provided in the whitepaper.

http://i57.tinypic.com/123rwna.png

Use Cases

Especially smartphones are a natural use case for this technology. Smartphone thefts are a worldwide epidemic and a gigantic market, screaming for a disruption of another kind. Keystone will ultimately make smartphone thefts futile. Take a phone away from an owner and it will simply stop working. The same goes for any other object secured by Keystones. Take it away and it stops functioning.
This technology allows to make a wide variety of possessions virtually theft proof in the sense of increasing the cost and effort to steal an object prohibitively high. At the same time the cost of finished lock will be in the one digit realm.
Besides smartphones, tablets, laptops, gaming consoles and any other electronic device of significant value are natural users of this smart property solution. Virtually anything that requires electrical power can be secured by the lock.
In addition, even non electric possessions can be secured by a modified version of the lock, by controlling an actual physical lock with the Keystone-lock. Thus even purely mechanical objects like doors, locks, and bikes are able to be secured by the Keystone-lock.
Lastly, a very specific use of keystones are cars. The technology will be utterly disruptive to the car sharing industry.


Advantages compared to software solutions

Well, this one is pretty easy. To crack software security, you need malware or simply reset the phone to its shipping state. Malware can be installed the moment you take away a phone from its owner, nullifying any security build into the software. So, software security is pretty unsafe and the effort to nullify it, is not especially high.
Even in case a very restrictive software killswitch is installed, the necessary infrastructure is centralized, requires large amounts of trust, is inefficient and prone to a malicious attack.
Keystone powered security on the other hand is virtually theft proof. As a hardware based security system, the only way to crack it, is to break or remove it. The targeted level of integration will make sure that breaking or removing the lock will break the device it is attached to at the same time.
Also, irreversible trading of ownership is nothing a pure software solution can accomplish.


Network economics

The network economy will be based on fees and what we call “Proof Of Service”. Every transaction within the network will use up an amount of the primary currency, which will be sent to the current leader in serving locks. The second use of the primary currency is creating new UIDS, which will be accepted by the network. These will also go to the current serving leader. The third use of the currency is participation as a serving node in the first place. Besides being used for network functionality, the currency will be tradable and divisible like bitcoins.

The required fees of the network will depend on its usage. This will not commence for a significant time after the protocol launch though. The system will have all required hooks, but as long as the currency is thinly traded and used, which it will most likely be for a long period, this feature will not be activated.

The “Proof Of Service” will be discussed further in the protocol whitepaper, as will an additional “Initial Adopter” feature



Seed investment [IPO]

The currency will be distributed based on ownership of counterparty KEYSEED tokens. There will be a total of 10000 divisible KEYSEED Tokens. We will use following distribution percentages:

http://i58.tinypic.com/6dwba0.jpg

-The fee booster will be used to inject additional fees during early network stages
-Development reserve will be used for the first set of locks which will be created, serving as a second kickstart for the project

The Email giveaway has not commenced, instructions will follow in time

Translations
Chinese - https://bitcointalk.org/index.php?topic=789841
German - https://bitcointalk.org/index.php?topic=792803.0

Current short term roadmap



-   Release of top protocol whitepaper V 1            
Week 40 (09.29 – 10.05)

-   Opening of Keystone-Wiki                          
Week 40 (09.29 – 10.05)




Achieved Progress

- 09.17 Release of lock and key whitepaper V 1            

- 09.18 First Bounty offerings / update on distribution / small update on economic model                              

Follow us on social media

http://i59.tinypic.com/29f8ae1.png

The self moderated thread is used to remove pure spam and giant red letters. Please feel free to ask questions and offer critique.

Original announcement: https://bitcointalk.org/index.php?topic=699113.0

[Keystoneassets]

Bounties:

Adventerous people may apply for bounties. Be warned though, bounty distribution will start at the same time as the seed investment round.
All bounty related work offered before seed investment round will receive a 25% Bonus


Creation of a simple website
- Needs to contain basic information and Mailing list
- Use of Wordpress required
- Contact and feedback with and of our designer is part of the bounty
Stake worth 1.5 BTC at best rate or 0.5 BTC paid directly


Single Translations
-   Chinese
-   German
-   Spanish  pending
-   French

We accept other languages

Stake worth 0.2 BTC each at best rate

We are currently not looking for further translations. These bounties will open up again later.


Community management / contact person
-   Chinese
-   German
-   Spanish
-   French
Fluent English required in every case. Jobs consist of ongoing update translations and relaying of important questions to the team. Payment will be transmitted at the end of every month.
Stake worth 0.3 BTC each month at best available rate

Applications through PM or to Keystoneassets@outlook.com

[sussex]

So you are going  to develop hardware and then persuade electronics companies to integrate said hardware into their products?

Not fudding, just wanting to be clear.

[Keystoneassets]

So you are going  to develop hardware and then persuade electronics companies to integrate said hardware into their products?

Not fudding, just wanting to be clear.

It's an absolutely valid question.

The main goal is to create an underlying infrastructure for electronics security, which will allow for the above described. In principal a company can always create their own hardware side solution utilizing the protocol.

We aim to make this question of adding one of our locks, a no brainer though. As the lock is ultimately a very specialized microcontroller, production in large quantities will be extremely cheap.
And the ability to advertise with theft proof products for a minimal amount of money, is very tempting.

Also, this solution will ultimately have no significant overhead cost, as the infrastructure needed is decentralized and pays for itself.

[UrsaMajorisBeta]

This is brilliant. I'll watch this.
Do you have any eta's or a roadmap on the works?

[Keystoneassets]

This is brilliant. I'll watch this.
Do you have any eta's or a roadmap on the works?

Actually, one had already been finished, but during the late concept phase we discovered a problem in the first design, which would have led to an immense additional and unnecessary load on the bitcoin blockchain. On the long run it would likely have been unsustainable. We have solved that problem, but the amount of necessary work changed.
Due to that, we're rather hesitant to release any etas.

There will a very rough and none binding roadmap in a couple of days though.

[UrsaMajorisBeta]

This is brilliant. I'll watch this.
Do you have any eta's or a roadmap on the works?

Actually, one had already been finished, but during the late concept phase we discovered a problem in the first design, which would have led to an immense additional and unnecessary load on the bitcoin blockchain. On the long run it would likely have been unsustainable. We have solved that problem, but the amount of necessary work changed.
Due to that, we're rather hesitant to release any etas.

There will a very rough and none binding roadmap in a couple of days though.

Good, take your time. Better to have a finished product running fine than having to hard fork having whales throwing the value to the floor.

[sussex]

So you are going  to develop hardware and then persuade electronics companies to integrate said hardware into their products?

Not fudding, just wanting to be clear.

It's a absolutely valid question.

The main goal is to create an underlying infrastructure for electronics security, which will allow for the above described. In principal a company can always create their own hardware side solution utilizing the protocol.

We aim to make this question, of adding one of our locks, a no brainer though. As the lock is ultimately a very specialized microcontroller, production in large quantities will be extremely cheap.
And the ability to advertise with theft proof products for a minimal amount of money, is very tempting.

Also, this solution will ultimately have no significant overhead cost, as the infrastructure needed is decentralized and pays for itself.

This seems like a very, very good idea.

I don't think it will be easy to persuade the likes of Sony to use your system, but if you do persuade them it could be huge.

I'm buying a stake, long term, good luck. 

[susu]

Good project, want to buy shares, hoping not too expensive.

[sdersdf2]

what's the TLDR on all this?

Keystone Assets - Smart Property Solutions

What is it?

Keystones is a multilayer project aiming to connect a cryptocurrency with hard physical property, creating a unit of wealth with true inner value while providing a convenient security system for electronic devices. The project is currently leaving the concept stage and entering the prototype stage of development. Every major technical question has been answered.


Technology

Keystone will use cellular network technology as basis of its operation, utilizing existing infrastructure in a genuine new way.
Encoded in the Bitcoin blockchain ownership of a lock through a so called UIDS, a unique data structures stored in a ROM inside the keystone-lock and its digital representation in the blockchain itself. These UIDS are associated with a transaction and thus a public key in the blockchain and can be traded freely. The blockchain ensures a UIDS is unique and the association definitely with a public key.
The analogy of the public key in a classical lock is the keyhole. The lock communicates with the network on a regular basis to request the public key its UIDS is pointed to, changing its keyhole when a trade involving the lock has occurred. To ensure the information transferred to the lock is up to date, the request process will be repeated selecting random nodes of the network until the received answer can be overwhelmingly seen as correct. The only way to cheat the involved process is if over half the network is involved in a coordinated attack. And even then all an attacker can do, is to temporarily stall ownership update, but never fake ownership them.
The lock uses two channels to communicate with other entities. The Network will be contacted over cellular network, the key over short range Bluetooth.
The blockchain services required to run keystones come in the form of a protocol on top of bitcoin, using multisig transactions to store required information. The keystone clients interpret these transactions different than the standard bitcoin client and thus offer the functionality needed to support the physical locks. A secondary Ledger will be used to find consensus of system wide overhead.
We decided a top level protocol will have the best long term viability, as bitcoin as well as keystones will mutually benefit from each other. Keystone receives the security of the bitcoin blockchain as well as easy access to existing infrastructure. Bitcoin on the other hand will profit from additional functionality without the risk to break something in the base protocol.

Additional information will be provided in the whitepaper.

Use Cases

Especially smartphones are a natural use case for this technology. Smartphone thefts are a worldwide epidemic and a gigantic market, screaming for a disruption of another kind. Keystone will ultimately make smartphone thefts futile. Take a phone away from an owner and it will simply stop working. The same goes for any other object secured by Keystones. Take it away and it stops functioning.
This technology allows to make a wide variety of possessions virtually theft proof in the sense of increasing the cost and effort to steal an object prohibitively high. At the same time the cost of finished lock will be in the one digit realm.
Besides smartphones, tablets, laptops, gaming consoles and any other electronic device of significant value are natural users of this smart property solution. Virtually anything that requires electrical power can be secured by the lock.
In addition, even non electric possessions can be secured by a modified version of the lock, by controlling an actual physical lock with the Keystone-lock. Thus even purely mechanical objects like doors, locks, and bikes are able to be secured by the Keystone-lock.
Lastly, a very specific use of keystones are cars. The technology will be utterly disruptive to the car sharing industry.


Advantages compared to software solutions

Well, this one is pretty easy. To crack software security, you need malware or simply reset the phone to its shipping state. Malware can be installed the moment you take away a phone from its owner, nullifying any security build into the software. So, software security is pretty unsafe and the effort to nullify it, is not especially high.
Even in case a very restrictive software killswitch is installed, the necessary infrastructure is centralized, requires large amounts of trust, is inefficient and prone to a malicious attack.
Keystone powered security on the other hand is virtually theft proof. As a hardware based security system, the only way to crack it, is to break or remove it. The targeted level of integration will make sure that breaking or removing the lock will break the device it is attached to at the same time.
Also, irreversible trading of ownership is nothing a pure software solution can accomplish.


Network economics

The cryptocurrency units issued in the genesis transaction of the network will serve several purposes which will ultimately form a cycle of use and reuse.
Issuing a new UIDS as well as successful requests to the network will consume units of the native currency. The value of the currency therefor lies in the amount of network usage and connected devices. The amount of units required to perform specific actions will be derived from amount of network usage. The higher the network usage, the lower the fees required by the network.
These fees will go to clients which provide the services to the network.

The method of fee distribution and associated proof of service will be further discussed in the whitepaper.



Seed investment [IPO]

There will be a very limited round of seed investment coming in the next weeks. Additional Information will be provided in time.



Coming up Next
Lock Whitepaper
Currency Whitepaper
Seed investment

The self moderated thread is used to remove pure spam and giant red letters. Please feel free to ask questions and offer critique.

Original announcement: https://bitcointalk.org/index.php?topic=699113.0

[Keystoneassets]

what's the TLDR on all this?

We're gonna build a specialzed smart property and security protocol on top of bitcoin, it's gonna be AWESOME!

Question answered?

But really. It is not possible to reduce it much more without removing important information.

And please refrain from giant quotes in the future. Further posts like this, cluttering the thread, will be removed.

[provenceday]

when will this start?

it looks great.

[reader31]

Looking forward to this.

[rigdeer]

-   First Bounty offerings                                 
Week 38 (09.15 – 09.21)

I want a bounty.....
do you want a PR manager?

[Keystoneassets]

-   First Bounty offerings                                 
Week 38 (09.15 – 09.21)

I want a bounty.....
do you want a PR manager?

The first set of bounties will be offered at some point this week.
PR Management surely sounds nice, but it unfortunately not part of the current bounty plan. We might reconsider this in the future though, thank you for your offer.

[Jookly]

It's bothering me that you are predicting delays already.  I would be more interested if you could set dates you feel you can realistically meet, rather than posting dates and expecting delays.

[Keystoneassets]

It's bothering me that you are predicting delays already.  I would be more interested if you could set dates you feel you can realistically meet, rather than posting dates and expecting delays.

Development processes are subject to reiteration, as usually new questions arise through every stage of the project, especially if it contains new technologies.
We have a plan and feel the set dates are realistic, but we also know from experience where roadblocks tend to materialize unexpected. As we don't want to work on the basis of "worst case possible" (which may still be delayed anyway), a combination of timeframes and possible delays seems the most sincere approach.

If you look at other large projects, you will usually find delays without announcement.

[Keystoneassets]

Update

Lock and Key whitepaper has been releases

[h0lybyte]

I think your logo is pretty dope

Do you guys have an IRC channel?

[givemeyourcoin]

Smart Property Solutions