Crypto anchors

Balagurusamy, Venkat; Cabral, C.; Coomaraswamy, S.; Delamarche, Emmanuel; Dillenberger, D. N.; Dittmann, Gero; Friedman, D.; Gökçe, Onur; Hinds, N.; Jelitto, Jens; Kind, Andreas; Kumar, A. D.; Libsch, F.; Ligman, J. W.; Munetoh, Seiji; Narayanaswami, Chandra; Narendra, A.; Paidimarri, Arun; Delgado, M. A. P.; Rayfield, J.; Subramanian, C.; Vaculin, R.

doi:10.1147/jrd.2019.2900651

Cited by 21 publications

(10 citation statements)

References 16 publications

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“…data feed from the drones, cameras, QR codes, sensors to the smart contract nodes in relation to the raw goods and all the required data to have a complete provenance. provide proof of this verification by flying a drone using FPV goggles 12 and can record the mining of the diamonds and their being tagged with cryptoanchors (Balagurusamy et al 2019). The cost and effort to deploy FPV recordings in conjunction with the inspector's verification is probably justified in the gemstone mining process where regulations are strict.…”

Section: (Insert Figure 1 About Here)mentioning

confidence: 99%

“…Here the smart contract is a ledger onto itself and physical assets and events should be tokenized or represented virtually. Since these transactions occur and assets exist in the physical layer and not in the virtual blockchain layer, the issues of legitimacy and provenance emerge (Balagurusamy et al 2019). Bridging this gap between and the virtual and physical world exists the connecting layer or "Oracles" (Figure 2).…”

Section: (Insert Figure 1 About Here)mentioning

confidence: 99%

“…However, such a level of detail may not be economically feasible from an operational perspective and would be context specific. Secondly, the tagging of raw goods can be problematic, particularly for stockpiles and liquids (Balagurusamy et al 2019). Thirdly, the entire blockchain ecosystem of the supply chain will require infrastructure to support it.…”

Section: Sixth: Communication Of the Solution -Future Researchmentioning

confidence: 99%

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Trust but Verify: The Oracle Paradox of Blockchain Smart Contracts.

Appelbaum¹

2020

Preprint

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Although research shows that blockchain provides fairly immutable virtual provenance workflows, proof that the Blockchain accurately represents physical events lacks truly independent verification. This dilemma, the Oracle Paradox, challenges blockchain architecture and is perhaps one reason why businesses have hesitated to adopt smart contracts. Blockchain proponents claim that people can serve as trusted Oracles in a smart contract. However, auditing research shows that people are the weak link in almost every internal control application, including those pertaining to blockchain. People are susceptible to collusion, bribery, error, and fraud and these tendencies are not entirely mitigated by blockchain technologies (Balagurusamy et al. 2019; Nakamoto 2008). This research proposes a framework to mitigate the paradox of the Oracle: A Business Process Management (BPM) model of a Blockchain Smart Contract-enabled Supply Chain with IoT as the sole "third-party" Oracle participant, utilizing Design Science research.

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Section: (Insert Figure 1 About Here)mentioning

confidence: 99%

Section: (Insert Figure 1 About Here)mentioning

confidence: 99%

Section: Sixth: Communication Of the Solution -Future Researchmentioning

confidence: 99%

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Trust but Verify: The Oracle Paradox of Blockchain Smart Contracts.

Appelbaum¹

2020

Preprint

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“…The issue of genuineness of sensor hardware is already addressed by various stakeholders. Other than for computer hardware, each class of sensor system tends to require individual anti-counterfeit technologies (Gokce et al, 2018;Balagurusamy et al, 2019); their choice is determined by acceptable costs and the appeal to fraudsters. Sensor data can be made trustworthy through a combination of techniques to create accountability for its accuracy.…”

Section: Sensorsmentioning

confidence: 99%

Blockchain for Organizing Effective Grass-Roots Actions on a Global Commons: Saving the Planet

Ducrée

Etzrodt²,

Gordijn

et al. 2020

Front. Blockchain

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An overwhelming majority of experts has been flagging for decades that "Saving the Planet" requires immediate, persistent and drastic action to curb a variety of catastrophic risks over the 21st century. However, despite compelling evidence and a range of suggested solutions, transnational coordination of effective measures to protect our biosphere continues to fall short. To remedy, we propose a novel platform for addressing the central issue of affording trust, transparency and truth while minimizing administrative overheads. This will empower an even loosely organized, global grassroots community to coordinate a large-scale project on a shared goal ("Commons") spanning the digital and real world. The Web3 concept is based on the swiftly emerging "Blockchain" and related cryptographic, distributed and permissionless technologies. "Wisdom of the crowds" mechanisms involving competitive parallelization and prediction markets are enabled by formalized reputation and staking to incentivize high-quality work, fair validation and best management practice. While these mechanisms have been (mostly separately) applied to science, business, governance, web, sensor, information and communication technologies (ICT), our integrative approach around Blockchainenabled 'operating principles and protocols' sets the basis for designing novel forms of potentially crowdfunded Decentralized Autonomous Organizations (DAOs).

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“…The problem is that these identifiers are not related to something intrinsic of the product, i.e., they are not true product identifiers since they can be modified, copied or transferred to another product. To avoid this problem, crypto anchors were proposed as a tight link between the digital and physical domains [ 14 ]. Silicon physical unclonable functions (PUFs), which exploit the variabilities of the semiconductor manufacturing process [ 15 ], can be treated as crypto anchors for electronic products such as IoT devices.…”

Section: Introductionmentioning

confidence: 99%

Secure Combination of IoT and Blockchain by Physically Binding IoT Devices to Smart Non-Fungible Tokens Using PUFs

Arcenegui

Arjona

Román

et al. 2021

Sensors

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Non-fungible tokens (NFTs) are widely used in blockchain to represent unique and non-interchangeable assets. Current NFTs allow representing assets by a unique identifier, as a possession of an owner. The novelty introduced in this paper is the proposal of smart NFTs to represent IoT devices, which are physical smart assets. Hence, they are also identified as the utility of a user, they have a blockchain account (BCA) address to participate actively in the blockchain transactions, they can establish secure communication channels with owners and users, and they operate dynamically with several modes associated with their token states. A smart NFT is physically bound to its IoT device thanks to the use of a physical unclonable function (PUF) that allows recovering its private key and, then, its BCA address. The link between tokens and devices is difficult to break and can be traced during their lifetime, because devices execute a secure boot and carry out mutual authentication processes with new owners and users that could add new software. Hence, devices prove their trusted hardware and software. A whole demonstration of the proposal developed with ESP32-based IoT devices and Ethereum blockchain is presented, using the SRAM of the ESP32 microcontroller as the PUF.

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Crypto anchors

Cited by 21 publications

References 16 publications

Trust but Verify: The Oracle Paradox of Blockchain Smart Contracts.

Trust but Verify: The Oracle Paradox of Blockchain Smart Contracts.

Blockchain for Organizing Effective Grass-Roots Actions on a Global Commons: Saving the Planet

Secure Combination of IoT and Blockchain by Physically Binding IoT Devices to Smart Non-Fungible Tokens Using PUFs

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