IoT integration: Cisco files patent for blockchain

The technology conglomerate Cisco applies to patent for an invention that could enhance the efficiency of IoT networks
24 October 2017   2189

The technology conglomerate Cisco files US patent application for “Block Chain Based IoT Device Identity Verification and Anomaly Detection”.

Cisco patent application
Cisco patent application

The concept is enabling a blockchain-based system that could record changes to the conditions affecting and captured by sensors (i.e., smart objects) in a network and instrumentalize network relationships and the data that the network generates in order to exercise control over those nodes.

While working with Low-Power and Lossy Networks (LLNs), “routers and their interconnections are constrained” in terms of their “processing power, memory, and/or energy (battery), and their interconnections are characterized by, illustratively, high loss rates, low data rates, and/or instability.”

Additionally, “changing environmental conditions may also affect device communications.” As such, a system that enhances communications between these sensors and another device in the network could expand the number of practical LLN use cases.

In one embodiment, a device in a network receives a network registration request from a particular node. The device causes performance of a validation of the information about the particular node via comparison of the information about the particular node to a distributed block chain that includes information regarding the particular node and one or more other nodes.
 

About Cisco application

The application also lists “the smart grid, smart cities, and building and industrial automation” among the types of LLNs that might operate more efficiently with the integration of the invention.

The device causes an update to the block chain based on the information about the particular node and the validation of the information about the particular node. The device uses the updated block chain to control behavior of the particular node and the one or more other nodes.
 

About Cisco application

The smart objects/sensors that could, at least partially, comprise these networks include “lights, appliances, vehicles, HVAC (heating, ventilating, and air-conditioning), windows and window shades and blinds, doors, locks,” as well as actuators – automated devices that can, for instance, start an engine.

Facebook to Launch GlobalCoin in 2020, BCC Says

Facebook consults with representatives of the US Treasury Department and Bank of England  about regulating the initiative named Libra
24 May 2019   43

Operator of the world's largest social network Facebook Inc. will launch a new payment network based on its own cryptocurrency in the “dozen countries” in the first quarter of 2020, the BBC reports.

The publication claims that Facebook consults with representatives of the US Treasury Department and Bank of England Governor Mark Carney about regulating the initiative, code-named Libra.

At the same time, the Financial Times reported that Facebook is already in talks about listing GlobalCoin on the American exchanges Gemini and Coinbase. 

Sources of the publication said that Facebook is discussing with the trading firms Jump and DRW the prospects of market-making and liquidity.

Previously, the media claimed that the company is also in talks to support the initiative with Western Union, Visa and Mastercard.

Testing the network is supposedly scheduled for the third quarter of this year.

On May 2, Facebook registered Libra Networks in Geneva, Switzerland. Its profile involves the development of infrastructure and software, in particular, related to investment activities, payment transactions, financing, identity management, data analysis, Big Data, blockchain and other technologies.