Hyperledger PR

With a growth forecast for over 8 billion mobile phones and 30 billion ‘Internet of Things (IoT)’ devices expected by 2030, Pairpoint is today empowering this expansion with a blend of connectivity, IoT, secure SIM technologies and trust / automation through our platform. This integration paves the way for a novel ‘Economy of Things (EoT)’, where devices can autonomously transact on a distributed platform, an achievement made possible through blockchain technologies. 

Pairpoint is excited to announce our collaboration with the Hyperledger Foundation, a milestone that marks a significant step forward in our journey, where we collectively build the world’s most extensive IoT device ecosystem, where physical devices can interoperate with public and private blockchain platforms. In this article, we’ll explore how Hyperledger based blockchain technologies, such as Hyperledger Besu, can be seamlessly integrated into our platform, enabling key use cases for our customers. Furthermore, we’ll describe how our platform serves as a pivotal interoperability bridge for our customers, enabling them to connect Hyperledger Besu-based use cases to their IoT devices. 

Blockchain and the Economy of Things

The Pairpoint Digital Asset Broker (DAB) solution addresses key needs for the Internet of Things and Economy of Things, particularly edge to network security and trust. Edge to network security is based on our unique SIM based technologies that securely deliver keys for signing or encryption. Trust is delivered through our decision to base our platform around blockchain technology. This enables an EoT, where smart devices autonomously exchange value or data. In such an ecosystem, diverse use cases emerge, necessitating a robust system where interactions are not only recorded in a transparent way, but are immutable, ensuring verifiability and trust. 

In the EoT, it’s crucial that the registry of all devices interactions is maintained in an immutable manner to guarantee that customers who are developing use cases and registering devices on our platform, have an independent source of trust on which to build their businesses. Customers and partners can audit and trace every interaction linked with their use cases and the actions of their smart devices, ensuring accountability and transparency. 

Blockchain technology stands out as a globally accepted cryptography-based solution that aligns perfectly with these needs. It’s not just a trend; it’s an effective and transformative framework offering specific features crucial for the EoT. The distributed nature of blockchains allows for scalability of computation and storage, privacy/ confidentiality and network reliability. Importantly, a “network effect” means that customers choosing to use the Pairpoint platform can more easily work with partners to bring new applications and services to the market, enhancing the value to end users and creating additional business opportunities compared with traditional centralised systems and application silos. 

The blockchain approach aligns with our vision for a distributed, transparent, and secure-tech based platform where smart devices can autonomously and reliably transact, paving the way for innovative applications and services in the EoT. By enabling devices to transact in an autonomous, secure and efficient manner, and with easy connectivity to public and private blockchains, such as Hyperledger Besu, we’re setting the stage for a new era of innovation and interconnectivity.

Capabilities of the DAB Platform

Leveraging a distributed ledger architecture and core, Pairpoint’s platform ensures that data is not only accessible but also immutable, providing customers with the ability to monitor their device networks and transactions with guaranteed clarity and in near real time. The Pairpoint platform enables services to be created, which allow devices to work beyond application silos, be able to use complex applications logic, invoke smart contracts, make autonomous payments (including FIAT) and, most importantly, record activities on a permissioned immutable ledger. 

Pairpoint offers more than an application platform; it’s an ecosystem that encourages interoperability across a diverse range of industries, supporting collaboration and innovation within the IoT and EoT. Our cross-industry platform and commercial framework is instrumental in unlocking new possibilities and creating new business opportunities around IoT use cases.

Diverse Use Cases and Scenarios 

• Advanced Supply Chain Management: Elevate the transparency and integrity of supply chains by digitising the tracking process and authenticating goods at every step from origin to destination, without manual record-keeping. Using IoT sensors attached to containers, real-time data on the location, condition, or security of the goods could be collected and transmitted to the DAB platform, ensuring stakeholders have immediate access to the status of their shipments. The data from IoT sensors is authenticated at the source, confirming that it’s coming directly from the intended equipment, which is crucial for maintaining data integrity, and is securely logged onto an immutable ledger, providing an unalterable record of the shipment’s journey. 

• Intelligent Contracts for IoT: Use smart contracts to automate and enforce agreements between devices autonomously, facilitating a new level of self-sufficiency and interaction within device networks. 

• Robust Data Exchange: Ensure the secure and verifiable sharing of data among devices, bolstering the integrity and confidentiality of information, which is crucial in today’s data-driven landscape. To support this, we can incorporate advanced security measures such as data signing for authenticity and integrity, encryption for privacy and authorization, and immutable data storage for a trustworthy and verifiable history of data exchanges. 

• Innovative Mobility Solutions: Break silos and interconnect mobility services of connected cars, enabling a new level of convenience through in-car payment options.

These capabilities underscore the Pairpoint platform’s versatility and power, arming customers with a comprehensive suite of tools to pioneer and thrive in the EoT. Whether the aim is to enhance supply chain visibility, enable autonomous device ecosystems, or secure data exchange, Pairpoint provides the essential features to realize these objectives with efficiency and innovation. 

By harnessing the power of the DAB platform, businesses and developers can unlock new possibilities in the IoT and EoT, creating a more connected, secure, and efficient world. Whether it’s enhancing supply chain logistics, enabling smart city infrastructures, or innovating within the automotive sector, Pairpoint offers the tools and capabilities to bring these visions to life. 

Benefits of Hyperledger Besu Interoperability

Our strategic choice to develop interoperability with Hyperledger Besu within our platform is based on a future vision where physical devices work seamlessly with virtual assets on blockchains powered by Besu. In this world, smart contracts running on Besu can work with physical devices, knowing their provenance, trusting their data and being able to interact with those devices. Enterprises will adopt Besu for blockchain applications and Pairpoint brings security, trust and additional capabilities (e.g. Fiat payments) to enhance enterprise blockchain applications, offering greater flexibility and privacy over data to customers when compared to public networks. 

Providing integration options with Hyperledger Besu also brings further advantages to Pairpoint customers. Mainly this allows customers to develop new services based on Solidity, the wide range of related development tools and the capabilities of the Ethereum Virtual Machine. This makes service creation for Pairpoint’s platform more easily accessible to customers, while also giving Ethereum developers that important connectivity to trusted physical devices. 

Moreover, Hyperledger provides other modular tools and frameworks that enable the addition of new functionalities for our customers’ specific use cases. While these capabilities, such as creating private transactions or ensuring interoperability among various blockchain systems, are built on the Hyperledger side, our platform offers the key bridging technology that allows these solutions to work in the wider EoT ecosystem. 

Conclusion

In summary, this partnership with Hyperledger marks an important advancement for Pairpoint, enhancing our customers ability to create richer use cases through the combination of the Pairpoint platform, EoT ecosystem and Hyperledger’s commitment to delivering industry leading blockchain technologies. Together we are opening access to future possibilities within the EoT. 

We invite you to delve deeper into the Pairpoint platform. Sign up for a demo, and engage in the conversation about the future of blockchain-powered device interactions. Explore Pairpoint today and be part of shaping tomorrow’s interconnected world.