XinFin Hybrid blockchain uses Kramaa Platform for IoT integration
XinFin.org has successfully demonstrated financing of a solar plant using blockchain technology and IoT devices.
The simulation involved digitising and representing a solar plant on the blockchain. The buyer and financer entered into a smart contract over the Blockchain and the solar plant was financed using the underlying XDC tokens. The IoT integration enabled real-time monitoring and reporting of the plant performance. The IoT signal was fed to the smart contract between buyer and financier thereby triggering peer to peer wallet transfer toward repayment.
XinFin has developed a highly scalable secure permissioned and commercial grade hybrid Blockchain that leverages public blockchain technology while being enterprise ready.
XinFin also used the Kramaa platform for registering the IoT devices on the blockchain.Blockchain back-end & encryption can create secure identities with immutable data attestation. Adopting standardized p2p communication model to process the numerous transactions between devices will significantly reduce the costs. Unlike centralized system, failure in any single node wont bring entire network to a halt. Registration & verification of chips on blockchain promotes interoperability while also providing a building block for IoT
The author is a Founder & CEO of Kramaa. Kramaa is a Singapore based technology company converging latest technologies in blockchain, IoT, and analytics. The Company has created a blockchain based application (“The platform”) for IoT identities linked to physical assets on Xinfin’s proven hybrid blockchain architecture. The platform securely integrates physical assets & IoT devices through blockchain, smart contracts & firmware for creating digital identity, provenance, authentication, e-commerce, supply chain & finance. Industry applications for the platform include smart cities, pharma, packaging, logistics, Fashion / Luxury, Food & beverages, precious metals & Jewelry.
For more details on the Kramaa platform & IoT integration feel free to reach out to us on firstname.lastname@example.org
website : https://www.kramaa.com
India. +91 989293 5802
Singapore +65 31580937
U.S. +1 680 6666697
U.K. +44 1183151000