South African technology companies DoshEx and Digital Twin have unveiled a ‘world first’ designed to revolutionise the security and integrity of solutions deployed across the Internet of Things (IoT)
DoshEx and Digital Twin have collaborated to create a solution that aims to secure interaction between various components throughout the IoT.
DoshEx CEO Alex de Bruyn commented: “Our collaboration enabled us to create a globally scalable solution to the problem of harnessing blockchain technology without the need for outside verification of events logged by a blockchain. We call the new product Sherlock.
“The IoT nightmare is that ‘bad bots’ might create havoc in the case of cybercrime or system malfunction. Sherlock will help developers put these fears to rest.”
Richard Creighton, CEO of Digital Twin, said: “Secure, automated and highly dependable field data is essential in achieving the next generation of cross-business insight and control, we believe we’ve made this possible. It could even be a world-first.
“The industry forecast is that $15tn will be invested in IoT by 2025. But IoT creates a multitude of technical and scientific challenges. Sherlock addresses one of the big potential snags to rapid IoT uptake by bringing together blockchain technology and edge-based connectivity in a seamless but secure manner.
“It is essential that IoT solutions enjoy public and investor confidence. Sherlock will significantly increase the level of trust and open the way for serious IoT development.”
DoshEx developers and Digital Twin innovators connected an inbound Oracle input from an edge-capable device over a globally enabled USSD network (the global communication system used by mobile technology). This ensures trusted and SHA256 encrypted input into a blockchain. Encryption using the SHA256 algorithm is tamper-proof.
Creighton added: “By using USSD, the edge devices and their inputs can be instantly globalised without reliance on any specific local cellular provider. The edge device can travel anywhere in the globe and transmit encrypted messages into the blockchain.”
The Sherlock collaborators can now build industry-specific IoT-enabled smart contracts for large value chains across multiple participants that rely on trusted data.