Ethereum Computer is finally here; to debut today at Devcon

0
3
Devcon

The Ethereum Computer will finally be launched at the Devcon Three today with Simon Jentzsch, founder and CTO of Slock.it doing the honors.

Devcon Three will also see launch of the Universal Sharing Network (USN) that has been in research and development phase for two years now. The USN aims to rewrite the rules on how objects are shared and intends to enable individuals as well as business around the world to monetize their home, appliances or office buildings.

Today’s session will see Jentzsch demonstrate a prototype of the Slock.it application that enables individuals and businesses to rent, sell or share any smart object through Slock.it software built on top of ethereum’s public blockchain.

The conference will also see Jentzsch demonstrate a physical prototype of a blockchain-enabled “home automation device,” showing how “any existing smart object could be connected to the USN without hardware or software modifications.”

Slock.it claims the device will make it possible to “rent connected cars, homes, white goods, pleasure craft, disrupting the incumbents of the sharing economy.”

Slock.it says there has been market demand for the ethereum computer, with the company “signing on several engagements and revenue-generating contracts with multiple Fortune 500 companies including Innogy Innovation Labs and Siemens, amongst others.”

Following the demo, the USN codebase will be shared, on an open source basis, with the Trusted IoT Alliance, which is led by Cisco and includes BNY Mellon, Bosch, as well as others, among its members.

This project has been years in the making, with Slock.it leading the DAO efforts last year, which raised some $200 million, primarily for the ethereum computer and the USN, making it the first ethereum based ICO of sorts. Things, however, went a bit wrong. Unlike today’s ICOs, the DAO gave direct controls over the assets to token holders. But that was hacked, with the DAO dismantled and funds returned to the rightful owners. Since then, they have raised $2 million in March 2017 in a seed round, according to the press release. So allowing them to continue the project that is now to debut at Devcon.

The idea is to create an internet of things ecosystem connected through the ethereum computer, allowing for machine to machine payments. They have been collaborating with Germany’s energy giant, Innogy, which earlier this year launched hundreds of electric vehicle charging stations connected to the ethereum blockchain for payments. With the project expanding to America. The company has also been a founding member of the Trusted IOT Alliance, which has so far been low key despite the membership of some big names, such as Cisco.

However, following the launch of the ethereum computer that may change. With the exact details and further information to be revealed in just two days.

SHARE
Previous articleAmazon subsidiary registers new cryptocurrency, ethereum domains
Next articleBjörk starts accepting bitcoin for her latest album Utopia

With over nine years of experience through various editorial positions at major news outlets including ITProPortal.com, TheNewsReports.com, TechieNews.co.uk among others, Ravi decided to build up on his interest in cryptocurrencies through CryptoCrimson.com. Ravi is a network security graduate from Liverpool John Moores University, UK. After a 4-year stint as network security consultant at various companies in the UK and India, Ravi’s interest for writing took him to online journalism in 2010.

LEAVE A REPLY

Please enter your comment!
Please enter your name here