Blockchain + Internet Of Things: Small Scenes, Great Wisdom

In this issue of “Blockchain Revelation”, we interviewed Kong Qingyang, the key account director of Xita Industry. He introduced us to several cases of the combination of blockchain and the Internet of Things, which will give us a glimpse.

Many people may think that blockchain is included as part of the new infrastructure because of its decentralized, distributed, and trustworthy features, it can solve a lot of problems. The big problem of the moment. However, in the actual landing solution, we can find that from many specific scenarios, the value of the blockchain can be played more vividly. In this issue of “Blockchain Revelation”, we interviewed Kong Qingyang, the key account director of Xita Industry. He introduced us to several cases of the combination of blockchain and the Internet of Things IOT, which will give us a glimpse.

Technologist: In which areas have Xita recently explored the application of blockchain?

Kong Qingyang: Xita has done many blockchain cases in the financial industry, and it is also the scope that blockchain will generally involve, such as bill circulation, equity registration, supply chain finance, BaaS platform construction, etc. Recently, Xita has also discovered, The combination of blockchain and Internet of Things devices can be applied to many existing application scenarios.

For example, Xita and China Mobile cooperated to make a solution for the parking lot scene, which has been launched and promoted.

Parking is an application scenario that we face every day. You may not think that blockchain can also play a role in this scenario.

In the parking lot scenario, there are generally two parties. The first is the owner, that is, the owner of the parking lot site. For example, for many real estates, famous scenic spots will reserve the parking lot. These owners own parking. Ownership of the venue, but will leave the operation of the venue to a more professional platform. 

The operator of the parking lot is introduced here, and the main job of the operator is to do system construction and hardware construction. In actual operation, the operator is responsible for the charging and maintenance of the parking lot, and the revenue of the parking lot is shared with the owner.

In this model, there will be a potential problem, that is, the trust between the two parties in the data, such as how many cars are actually parked in the parking lot every day, how long the cars are parked, and how much parking fee revenue is generated. Since the system is also maintained by the operator, These data are only truly mastered by the operating platform, so that the owner and the operator of the parking lot have formed a kind of information misalignment.

Through the scheme jointly designed by Xita and China Mobile, blockchain chips have been added to the turnstiles and cameras in the parking lot. 

The blockchain chip and the 4G/5G card cooperate to realize the direct recording of the data on the side of the Internet of Things device on the side of the blockchain, that is, the connection from the data side to the chain side. In the actual scenario, the device can directly from the information into an order, and then directly record it on the blockchain without going through the cloud, providing a basis for multi-party reconciliation.

With this combination of blockchain and the Internet of Things, the information of the parking lot is more transparent, and everyone naturally trusts each other when reconciling accounts.

Technologists: What other application scenarios can be expanded for the combination of blockchain and the Internet of Things?

Kong Qingyang: There are still many cases where the blockchain and the Internet of Things are combined. Because the blockchain solves the trust problem, if the source data is not credible, there is no basis for trust. The Internet of Things collects data, which can solve the trust problem of source data.

There are also some cases of the Internet of Things in Xita. Generally, blockchain chips are added to the production equipment. In this way, the daily use of the production equipment and the production volume can ensure the authenticity of the data source, so that long-term data accumulation can be achieved. You can calculate how much value the production equipment contributes and calculate the ROI.

If the credibility of the data collected by the production equipment can be guaranteed, it will be beneficial to many scenarios, such as equipment financing leases, residual value calculations for second-hand transactions, and asset securitization issuance. For investors, what they want to know most is the actual workload of the equipment, which makes it possible to estimate the equipment, in other words, to open an account for the equipment.

Technologist: What is unique about Xita in terms of its technical strength?

Kong Qingyang: The underlying technology of Xita adopts a microservice architecture, which divides the functions of the blockchain into six modules, and runs these six modules in the form of microservices so that different services can run on different servers, as long as the server If it is connected, it can be used as a logical node.

The advantage of this is that it can improve efficiency in a targeted manner. If you need to improve server performance, you don’t need to improve the overall server together, as long as you solve the problem in a targeted manner. In addition, the microservice architecture can also help to achieve the pluggability of components. For example, if you need to change the consensus algorithm, you only need to modify the consensus module.

Technologist: Xita is still a technology company that has just started.

How does Xita consider the sustainability of technology when doing technical design to protect the investment value of customers?

Kong Qingyang: We believe that any sustainable technology will be open, so a company alone cannot guarantee the continuous change of technology. Only by adding more developers and technology companies can we ensure the continuous advancement of technology.

Xita’s blockchain technology is based on the Ethereum account system. The design of the virtual machine instruction set is similar to that of Ethernet, so it can be compatible with Ethernet smart contracts and integrate into a larger ecosystem. 

On the other hand, CITA adopted an open-source agreement to allow more developers to join in to develop their own products.

For example, if you buy something and there is only one store in the world that sells it, users will be more entangled, whether the follow-up service is guaranteed, whether other users can share user experience with their own, and so on.

In order for users to avoid falling into a situation where there is no ecology, Xita’s technology ecology has chosen to establish the open-source community CITAHub. On Xita’s community platform CITAHub, companies from different industries participate, including China Merchants Bank and Zhongshan District. 

For large users like the Blockchain Technology Research Institute, everyone can contribute source code to jointly promote the development of the CITA ecosystem. In terms of open-source ecology, Xita Technology is at the forefront in China.

In addition, in the open-source agreement, CITA’s Apache open source agreement is very business-friendly. In addition, the CITA-based commercial version of Rivus provided by Xita Technology also has a very free authorization method.

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