Quote from: loreRex on April 16, 2018, 05:20:37 PM

Hi guys,

I'm building a startup in Berlin applying blockchain tech to the IoT (Internet of Things). Here's a small demo that we did a couple of months ago, hopefully you will find it interesting:

https://medium.com/coinmonks/building-embedded-wallet-for-ethereum-c9777c1f4697

(it's a Medium article written by my cofounder)

I'm looking for feedback, every comment is welcome!

Reading the article, got some questions.

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Blockchain is able to provide a unique identity to the IoT device together with an ability to broadcast messages (called transactions) which have unfalsifiable source of origin embedded into them.

How could this work? Imagine someone has a blockchain in his security cam, which reports the data to central server and signs it so that it is unfalsifiable (if I correctly understood the use case). Now, this small device should have it's private key in it, stored somehow locally, correct?. What is the security measure if it?

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Given its low footprint, wallet is a good candidate to become a part of IoT device itself.

Why a toaster needs a wallet? No, seriously, I can understand that blockchain, probably, has application to IoT. But why things should be built around "wallets" and "balances" there?

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The private key is also necessary to generate a public address which can be used to send funds to the IoT device.

Why would it be necessary, funds in a wallet of my door bell? Wouldn't distributed, blockchain based consensus work here, but not involving currency-ish idioms?

Sorry for some critics, but you asked for comments. I do think blockchain can be used in IoT and such a projects have great potential, but I can't get why it's still being built around "wallets", "funds" and "balances". Is this because there is no technical basis for something different and Ethereum dominates the area?