BiiLabs is one of the pioneers with the era of distributed ledger technology (DLT) coming. Take Qubic for instance. As a protocol of smart contracts, Qubic can do more than outsourcing the computation power.
Based on IOTA Tangle, BiiLabs implements the service such as Digital ID, ledger & settlement, micro-payment, digital forensics, etc. by both providing and securing sandbox for testing, which means the customization of API.
With distributed Tangle system, all data would be cryptographically secured on multiple nodes so that even sensitive data with quantum-proof can be transmitted safe and sound.
BiiLabs enables micro- and nano-transactions to be recorded with the application of distributed technology and provides developers with an innovative set of tools for IoT economics.
Elements of smart cities include smart charging, smart mobility and smart buildings; however, the massive facilities accompany huge centralized costs, whether energy generation or transmission. Thus, the concept of smart energy communities is to meet self-sufficiency by the incentive called smart grids, a type of cryptocurrencies, and eventually to shape into an innovative business model.
Certificates, a representative of proving an individual, have a big issue on reliability and blockchain technology can take good use of distributed ledger to re-build up the trust ecosystem in certificates, not to mention a more efficient management in digital forms.
Supply chain managements emphasize on the transparency, authorized participations and immutable records. Therefore, DLT gets its role here to strike the trust balances in consumers, producers, transporters, retails and public institutions in contribution of the integration of global trades.
A revolutionary peer-to-peer network removes the necessity of transaction fees and further utilizes a machine-to-machine world. In other words, machines own independent wallets and automatically make the transaction with non-human, which means a new machine-centered business model is emerging.
Centralization in digital identity hardly work in the future with the alarming awareness of self-sovereignty. As a result, DLT would be the best alternative technology to realize online voting, medical record managements and inter-city data exchanges.
DLT can further meet the achievements of self-sovereignty, which indicates that users can control their personal data as well as keep the traceability of private information at will. It is not hard to imagine a new marketplace of data would be upcoming.
PM2.5 is a serious problem now happening everyday in Taiwan & China. The first project is LASS issued by the community. Our team BiiLabs & NCKU DLT Lab offload the sensor data from the cloud to the IOTA Tangle. And will design the sandbox for the sensor to secure the data integrity.
"To solve the challenges for Internet of Everything".
"A hacker, a lecturer, a father"
"There is shadow, there is light."
"A man can be destroyed, but not defeated."
"A midnight coder with big, warm heart"
"Redefine the value of authentication"
"Not everything that can be counted counts, and not everything that counts can be counted. - Albert Einstein"
“Be the change you want to see in the world.” By Mahatma Gandhi.
"Playing IOTA nodes with Node.js."
Former minister at The Government of Taiwan, Founder of Lee, Tsai & Partners
Partner & Strategy Designer, Business Models Inc. Taiwan
The founding chairman of the IEEE Standard Working Group on Fog Computing and Networking Architecture Framework
Expert of data mining, web technology, mobile data management, and cloud computing.
IOTA's Scalable, Decentralized, Feeless, Modular, Open-Source features make it will be the backbone of IoT Ecosystem. The Tangle ledger is able to settle transactions with zero fees so devices can trade exact amounts of resources on-demand, as well as store data from sensors and dataloggers securely and verified on the ledger. IOTA currently does two things really well: transactional settlement (especially feeless and fast micropayments) and data integrity.
The main innovation behind IOTA is the Tangle, a revolutionary new blockless distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees.
TangleID is a secure, easy-to-use system for self-sovereign identity, built on IOTA/Tangle. An identity can be cryptographically linked to offline data stores. Each identity is capable of storing the hash of an attributed data blob, whether on Google Cloud, Azure, AWS, Dropbox, etc., which is where all data associated with that identity is securely stored.
Identities are capable of updating this file themselves, such as adding a profile photo or a friend, or they can also grant others temporary permission to read or write specific files. Since they can interact with Tangle network, TangleID identities can also control digital assets such as cryptocurrencies or other tokenized assets.
Use cases are possible for the very first time. Real-time streaming payment services for data and energy, immutable data history tracking for supply chains, computational resource sharing (for bandwidth, CPU, and storage) and more. BiiLabs helps enable entire new business models which were previously impossible with the legacy financial system and other Distributed Ledger Technologies built on Blockchain.
By parallelizing transaction issuance and validation, IOTA is able to achieve a significantly higher transaction throughput. In a Blockchain, because many miners are working to add the next block to the chain, with significant overlap between the transactions included in their respective blocks, transactions are forced through a bottleneck by design - this is how the double-spend problem is resolved and how consensus is ultimately achieved. However, the vast majority of transactors are not trying to cheat by double-spending their coins, yet they are forced through this bottleneck nonetheless. Instead IOTA lets all transactions through and cleans up any conflicting transactions using the "heaviest Tangle" rule, More Activity=More Validation.
Because there are no miners in the Tangle, and the responsibility for validation is an intrinsic part of issuing a transaction, there are no transaction fees. The value sent is always equal to the value received. This enables feeless micro and even nano-payments which the emerging machine-to-machine sharing economy will require to operate at scale.