It took more than a year, but the Ethereum Computer is finally here, to be debuted at Devcon on November 4th by Simon Jentzsch, founder and CTO of Slock.it, according to a press release.
Following two years of research and development, the Universal Sharing Network (USN) is to be revealed, with the aim of “rewriting the rules on how objects are shared and enabling any individual or business to monetize their home, appliances or office buildings.”
Jentzsch is to demonstrate a prototype of the Slock.it application which allows individuals and businesses to rent, sell or share any smart object through Slock.it software built on top of ethereum’s public blockchain.
Jentzsch is to further demonstrate a physical prototype of a blockchain-enabled “home automation device,” showing how “any existing smart object could be connected to the USN without hardware or software modifications.”
The start-up claims the device will make it possible to “rent connected cars, homes, white goods, pleasure craft, disrupting the incumbents of the sharing economy.”
Slock.it says there has been market demand for the ethereum computer, with the company “signing on several engagements and revenue-generating contracts with multiple Fortune 500 companies including Innogy Innovation Labs and Siemens, amongst others.”
Following the demo, the USN codebase will be shared, on an open source basis, with the Trusted IoT Alliance, which is led by Cisco and includes BNY Mellon, Bosch, as well as others, among its members.
“Slock.it’s contribution of The Ethereum Computer brings all the elements of a smart contract connected IoT computers together with the Trusted IoT Alliance collaboration and governance framework,” Zaki Manian, Executive Director of the Trusted IoT Alliance, stated before adding:
“Secure key storage, light client functionality and peer to peer connectivity are basic building blocks of smart contracts [binding] directly physical objects from doors to automobiles.”
This project has been years in the making, with Slock.it leading the DAO efforts last year, which raised some $200 million, primarily for the ethereum computer and the USN, making it the first ethereum based ICO of sorts.
Things, however, went a bit wrong. Unlike today’s ICOs, the DAO gave direct controls over the assets to token holders. But that was hacked, with the DAO dismantled and funds returned to the rightful owners.
Since then, they have raised $2 million in March 2017 in a seed round, according to the press release. So allowing them to continue the project that is now to debut at Devcon.
The idea is to create an internet of things ecosystem connected through the ethereum computer, allowing for machine to machine payments.
They have been collaborating with Germany’s energy giant, Innogy, which earlier this year launched hundreds of electric vehicle charging stations connected to the ethereum blockchain for payments. With the project expanding to America.
The company has also been a founding member of the Trusted IOT Alliance, which has so far been low key despite the membership of some big names, such as Cisco.
However, following the launch of the ethereum computer that may change. With the exact details and further information to be revealed in just two days.