The main advantage of using blockchain technology in this context is a radically simplified user journey: Open the app > Find an object nearby > Pay for it > Use it. There is only one key (your smartphone) for everything and no need to register or login for the service thanks to a judicious use of security deposits.

The USN’s key differentiators are:

Cost effectiveness: we leverage a public infrastructure and therefore do not incur datacenter capital outlays

Interoperability: the same network of value used to rent your car can be used by the vehicle itself to pay for its own parking or electricity

Security: Ethereum decentralized apps or ‘dapps’ benefit from public/private key cryptography by default, while the underlying infrastructure presents no central point of failure.

Transparency: The USN lives on the public Ethereum blockchain and can be reviewed by anyone

Permissionless: developers and manufacturers alike do not need to request permission to leverage the USN as part of their products

The Road Ahead

Slock.it ‘s USN will be a B2C product when it launches in beta next year and will be released under a mainstream, user-friendly brand and image. In the meantime, we are very much in B2B integration mode, helping manufacturers onboard their objects onto the blockchain. Manufacturers can contact us at [email protected] for more information.

It’s particularly important to note that we do not intend to produce hardware ourselves, instead, we are integrating with partners such as Noke, who find value in the USN as it allows them to dip into the waters of the service industry while gaining deep insight as to how their products are used in the real world.