Vodafone has introduced a blockchain-based venue that enables the linked devices to carry out automatic and secure transactions on the behalf of the customers. As per the official statement, the latest venue, named DAB (Digital Asset Broker) draws on the potential of IoT (Internet of Things) thereof as well as will assist Vodafone consumers in benefitting from the latest ‘Economy of Things.’
The characteristics of Economy of Things
Most linked sensors and devices nowadays gather and send information through the Internet. Nevertheless, the unique ‘Economy of Things’ venue from Vodafone provides additional things. It permits verified linked vehicles, devices, machines, as well as smart street-related furniture to transact in an unparalleled and secure way on the behalf of customers. The unique venue of Vodafone will assign exclusive digital identities instead of businesses building the complicated infrastructure.
Then it becomes capable of communicating as well as transacting securely with the rest of the devices with the utilization of payment and wallet technology via mobile SIM. The respective venue is secured with the utility of blockchain technology.
The entirety of the devices linked to the DAB of Vodafone is confirmed and then by default certified to trade and exchange money and data over encrypted and secure connections. The Chief Technology Officer at Vodafone – Johan Wibergh – stated that they are constructing unique scaled as well as in-house venues for their consumers throughout Africa and Europe.
The latest venue, he added, will run the unique Economy of Things enabling the negotiation between everyday devices and objects along with selling as well as the purchase of services on their behalf. In addition to this, he mentioned that they are communicating with several other firms to swiftly spread collaborations and broaden the ecosystem across the world to incorporate the rest of the payment schemes and features.
Enhanced EV communications
The respective service was accessible on 28th February, in a trial of market lending that interlinked electric vehicles by default as well as securely with a Newbury-based charging point. Drivers are provided with real-time information over the compatibility as well as the status of the nearest accessible charging point along with the capability of certifying the vehicle thereof to recharge smoothly. Generally, Vodafone considers that the venue will remove range anxiety (being afraid of the end of battery life) and allows consumers to intentionally select the providers of renewable electricity.