Hajra Naz
Distributed Ledger Technology (DLT) and the Internet of Things (IoT) can create amazing and automatic features in the real world, which are also handled digitally.
IoT devices are physical objects that connect to the Internet and work well on a distributed network.
Blockchains are not ideal for high energy costs or lack of speed.
Directed Acyclic Graphs (DAGs) like Obyte are a better alternative, offering cheap, fast, secure, and decentralized transactions or data recording.
Here are some ways IoT and Obyte can work together:
1. Track and Verify Assets
Moving an item from the maker to the end client can be convoluted and unsafe.
Products can be altered, so authenticity and safety are essential. Decentralized networks and IoT devices can track and verify products, ensuring quality.
Sensors and IoT devices can provide real-time shipment status to a DLT, offering accurate, tamper-proof records.
This is useful for monitoring perishable goods or high-value items, improving accountability, and reducing losses from theft, fraud, or damage.
For example, a pharmaceutical product with an embedded IoT sensor can log its location, temperature, and humidity levels onto the Obyte DAG, ensuring an immutable and transparent record.
Any anomalies, like temperature changes, will alert stakeholders for quick action. The product’s journey can be tracked via a QR code on its tags.
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2. Smart Vehicle Leasing and Sharing
Vehicles like electric scooters, bikes, or cars can be leased or rented using tokens on a decentralized network like Obyte.
Users unlock and operate these vehicles by scanning a QR code and paying with tokens.
The vehicle’s usage data is recorded on the DAG, ensuring transparency and trust.
Smaart agreements and Independent Agents can oversee leases, support timetables, and instalments from one wallet.
For instance, John rents an electric bike by examining a QR code with his Obyte wallet and paying the rental charge.
The scooter’s IoT sensors track and record data onto the Obyte DAG.
When John finishes his ride, the smart contract processes the final payment and updates the scooter’s maintenance schedule.
3. Decentralized Health Monitoring
IoT devices like fitness trackers and medical sensors are common in healthcare.
Pairing them with a DAG like Obyte allows for secure digital registration of important medical information, which can be shared with healthcare providers and researchers.
For example, Sarah uses a fitness tracker that records health data onto the Obyte DAG.
If she feels unwell, she can consult a doctor via telehealth, granting temporary access to her health records stored on the DAG.
The doctor reviews the data for an accurate diagnosis, and Sarah can revoke access afterwards to maintain privacy.
4. Waste Management System
Inefficient waste management is a big environmental challenge.
IoT sensors and the Obyte ledger can create a decentralized system to address this.
Sensors in waste bins can monitor fill levels and send data to the DAG.
Smart contracts can automate waste collection services based on real-time data, ensuring timely pickups.
A customized token can reward users for proper recycling, incentivizing environmentally friendly behaviour and improving waste management efficiency.
For example, a city could use a ‘RecycleCoin’ (RCC) token. IoT-enabled recycling bins track waste deposits and log the data onto the Obyte DAG.
Users earn RCC for recycling, which can be redeemed for rewards or traded. This system promotes recycling and ensures transparent waste management.
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5. P2P Clean Energy
IoT and Obyte can help the environment and reduce electric bills through peer-to-peer (P2P) energy trading.
Households with surplus energy from renewable sources like solar panels can sell excess energy directly to others.
IoT devices measure energy production and consumption, recording data on the DAG.
Smart contracts facilitate automatic transactions based on real-time energy usage, ensuring prompt payment for producers and fair charges for consumers.
This optimizes energy distribution, reduces reliance on traditional suppliers, and promotes renewable energy use.
For example, Alice’s home produces excess solar energy. The IoT system logs the surplus onto the DAG for sale.
Mike’s IoT system detects the availability of Alice’s excess energy and purchases it via smart contract. Alice is paid, and Mike is fairly charged.
These examples show the immense possibilities of combining Obyte with connected devices, enhancing efficiency, security, and user experience in various sectors.
