Trusted IoT: Linking IoT Devices to NFTs
One of the greatest challenges within IoT is to properly identify devices. With can identify malicious or fake devices. Along with this, we can use the identity of the device to provide a timeline of its usage — from its creation until it is destroyed.
And so, one way to do this is to match the IoT device to an NFT (Non-fungible Token), and where we can create a cryptographically signed artefact that relates to each device. A recent paper defines a mechanism for achieving this in a secure and trustworthy way [1]:
ERC-20 and ERC-721 tokens
In a tokenized world, we can transfer ownership of the crypto asset through the digital signing process, where the previous owner of a car uses their private key to assess the car to me. I prove to everyone that I now own it using my public key. That all works well for physical assets, but what about software and digital artefacts? Well for this we have the concept of the NFT, and where we can protect the ownership and also the creator of a digital asset. This might relate to photographs, music, or movies. The creator of the asset can thus provide digital evidence that the asset was registered at a certain…
