Vodafone Uses Blockchain To Enable IoT Devices Complete Automated Transactions

Vodafone has rolled out a blockchain-backed platform that will enable connected devices to complete secure transactions on the user’s behalf. The platform, dubbed Digital Asset Broker {DAB), promises more simplicity for users and businesses who do not need to build their infrastructure.

The device is given a unique digital identity by the DAB, allowing it to securely communicate with other devices within the platform. the simple process, secured by SIM card technology, allows easy and automated payment of goods and services. Vodafone hopes that the solution will open the door for new revenue opportunities.

Vodafone Offering Secure Links To Devices’ Ecosystem

The company said the platform will offer secure links to device ecosystems and third-party platforms. It can be applied across different industries, including manufacturing, energy, logistics, and automobile.

“We are building in-house new, scaled platforms for our customers across Europe and Africa,” Vodafone’s Chief Technology Officer, John Witbergh, stated.

He added that Vodafone is looking to collaborate with other companies to include other payment schemes and features. Vodafone has also launched a pilot service for the new platform in its hometown of Newbury. The service enables electric vehicles to communicate with compatible charging points, allowing a speedy and more efficient charging process for these vehicles.

The new platform draws on the strengths of Vodafone’s Internet of Things (IoT) platform and will enable the users to benefit immensely from the new “economy of things.”

The New Platform Will Carry Out Transaction On Behalf Of The User

Most sensors and connected devices are only capable of sending information through the internet. But the new platform does more than that.

It enables street smart furniture, vehicles, and machines to transact securely and seamlessly on the user’s behalf without their intervention. Vodafone says it will change the way transactions are made with IoT devices, as the user doesn’t need to be present or active.

The platform will communicate effectively with other devices using payment technology, and a unique digital identity will be assigned to each device.

Your capital is at risk.

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