Visible Energy has launched Blockduino during the Blockchain Week in San Francisco. According to the company’s CEO Marco Graziona, Blockduino is an integration of blockchain and Arduino Technologies comprising of a circuit board and software layer that will enable manufacturers to develop devices that are blockchain and cryptocurrency-powered.
The Silicon Valley startup known for developing practical products for home conservation envisions having all devices from electric cars, vending machines, LED lighting and commercial air conditioning. Systems, etc use blockchains smart contracts and digital assets to transact.
The development of Blockduino is hoped to make performance-based models economically viable. As of now it is too expensive to employ a hardware-as-a-service model because of high micro-transaction cost with several intermediaries each levying a fee.
Nonetheless, in the event that Blockduino is adopted in mainstream electronic device manufacturing, the invention could help transition the GDP driven economy to a service-based economic model. Consumers would no longer be charged for product features they don’t use. This will prompt manufacturers to develop more focused market-driven products.
How exactly does Blockduino operate? According to Forbes, Graziona explains that “the Blockduino software development kit (SDK) provides high-level functions to create smart contracts that interact with any other Blockduino-enabled devices.” About security of transactions, Graziona adds that Blockduino is launched to the public Ethereum blockchain and “adopts a trusted execution environment.”
Visible Energy explains that by incorporating blockchain, smart contracts and cryptocurrency in Blockduino, it will enable manufactures to reduce their product’s cost and more so inspire them to develop more durable and better devices.
Blockduino was developed as an open source meaning members of the public can access it freely. How then does the company plan to break even? According to the company’s CEO, they will be selling the secure hardware module to electronic device manufacturers. The sale will be inclusive of proprietary software that guarantees the device’s security.