Slock.it has secured $2 million USD in seed funding according to a blog post from founder and COO Stephan Tual. This round will go towards the development of the Universal Sharing Network (“USN”) project, which seeks to shake up the sharing economy by enabling both companies and individuals to rent, sell or share any connected smart object.
“With the USN, rental apartments and offices will become fully automated, smart objects will be rented on demand and unused vehicles get a new lease on life.” — Christoph Jentzsch, CEO Slock.it.
How to revolutionize the sharing economy with Blockchain + IoT
Since its inception in November 2015, Slock.it’s mission has been to develop the future infrastructure of the Sharing Economy. We’ve codenamed this project the Universal Sharing Network, or “USN”. Build on top of the public Ethereum Blockchain, the USN will provide users a set of mobile and desktop applications to find, locate, rent and control any object mediated by smart contracts, from anywhere in the world.
The main advantage of using Blockchain technology in this context is a radically simplified user journey: Open the app > Find an object nearby > Pay for it > Use it. There is only one key (your smartphone) for everything and no need to register or login for the service thanks to a judicious use of security deposits.
The USN’s key differentiators are:
- Cost effectiveness: we leverage a public infrastructure and therefore do not incur datacenter capital outlays
- Interoperability: the same network of value used to rent your car can be used by the vehicle itself to pay for its own parking or electricity
- Security: Ethereum decentralized apps or ‘dapps’ benefit from public/private key cryptography by default, while the underlying infrastructure presents no central point of failure.
- Transparency: The USN lives on the public Ethereum Blockchain and can be reviewed by anyone
- Permissionless: developers and manufacturers alike do not need to request permission to leverage the USN as part of their products
The Road Ahead
Slock.it ‘s USN will be a B2C product when it launches in beta next year and will be released under a mainstream, user-friendly brand and image. In the meantime, we are very much in B2B integration mode, helping manufacturers onboard their objects onto the Blockchain. Manufacturers can contact us at email@example.com for more information.
It’s particularly important to note that we do not intend to produce hardware ourselves, instead, we are integrating with partners such as Noke, who find value in the USN as it allows them to dip into the waters of the service industry while gaining deep insight as to how their products are used in the real world.
“We’re talking about the deployment of a global, real-time, ad-hoc Internet of Value” — Stephan Tual, COO Slock.it.
“We hope to build up our developer community capacity throughout 2017 by making the Ethereum Computer available as a free and open source image for popular SoCs platforms. We’re proud to have opted for a ‘permissionless’ approach on the public Ethereum Blockchain, encouraging network effects through a free and easy integration for both the maker community and larger manufacturers of smart objects alike.”
“Blockchain is and will continue to be at the core of everything we do. It’s still early days, but we’re proud to be one of the first companies to give end-users a real-world preview of what Blockchain can actually do for them.
If you’re passionate about decentralization and would like to join us in building the USN, please check out the careers section of our website.”
- First Ever Real Estate Project on Blockchain Launches in Amsterdam – ICO Today - June 26, 2017
- World’s first decentralized speech recognition platform plan to raising up to $3M on ICO - June 26, 2017
- A2B Direct to Launch a Blockchain Platform and Hold an ICO - June 24, 2017
- The ‘under the radar’ ICO, Populous. A platform tackling the Multi-Trillion Dollar international billings industry. - June 23, 2017
- Blockchain Startup TrueFlip Reinvents Business with 600 Year Long History of Fails - June 23, 2017
- EXMO exchange lists WAVES Blockchain Project - June 23, 2017
- Blockchain Startup DECENT Launch Date Announced - June 23, 2017
- Adex, A Decentralized Ad Network, Taps WINGS Platform For Community Engagement, Token Sale Value Discovery And Social Promotion - June 23, 2017
- Comcast’s Advanced Advertising Group And Participants Announce Blockchain-based Technology Platform - June 22, 2017
- Online Platform for Gamers to Release a Cryptocurrency for In-game Skins Trading; Launches an ICO - June 22, 2017
- Colu Launches Digital “Local Pound, East London” Currency to Empower Local Economies - June 21, 2017
- bitJob.io is Building a Student Employment Program on the Ethereum Blockchain – Launching ICO - June 21, 2017
- Blockchain Project Waves launches landmark USD gateway - June 21, 2017
- Status.im Raises $270m in Three Hours – Shattering Token Raise Record - June 21, 2017
- World’s First Mobile Data Exchange DENT Seeks to Disrupt Telco Market with Blockchain - June 20, 2017
- Financial Inclusion Company Everex Takes Home RemTECH Award For Ethereum Apps - June 18, 2017
- SONM Raises $42 Million in Token Raise - June 18, 2017
- WISeKey partners with the Blockchain Interface company RIDDLE&CODE to develop innovative solutions for securing IoT via Blockchain technology and crypto-hardware - June 17, 2017
- Bancor Announces $153 Million Raise, Largest Token Generation Event in History - June 17, 2017
- CORION Announces Final Coin Sale Details to Build its Revolutionary Platform & Stable-Rate Currency - June 17, 2017
- Enhancing the value of history with ZenDao – ICO announcement - June 16, 2017
- FunFair Announces Token Creation Event on June 22 for World’s Fastest Blockchain Casino Platform - June 15, 2017
- Blockchain Technology Venture Nimiq Announces Token Sale - June 14, 2017
- Outlier Ventures Makes Multi-Million Dollar Investment in Distributed IoT Marketplace ‘IOTA’ Through Major Token Purchase - June 14, 2017
- Bancor Token Allocation Event Smashes Record – Raises over $150 Million - June 13, 2017
- Consensys Introduces Omega One - June 12, 2017
- MetaX and DMA Join Forces to Launch adChain: a Blockchain Solution to Digital Advertising Fraud - June 12, 2017
- Aeternity Raises $24 million Over Phase Two of Token Sale - June 12, 2017
- HyperChain Capital announces Collaboration and Investment in CoinDash - June 12, 2017
- Community-Driven Cryptocurrency Credits Announces First Public Release - June 12, 2017
- Bancor Protocol Foundation Announces New Partners Before Upcoming Token Allocation Event - June 12, 2017
- Investors from Russia are launching a venture fund formed on blockchain - June 12, 2017
- Bancor Adds Heavyweight Advisory Team to their Foundation – Token Allocation Event Kicks off Today - June 12, 2017
- Bancor Protocol Foundation Adds Author and Euro Designer Bernard Lietaer as Chief Monetary Architect - June 10, 2017
- Russian Billionaire Announces Business Incubator on Waves Platform - June 9, 2017
- Bancor Launches Crowdfunding Valuation And Promotion Via Wings Dao On Ethereum - June 9, 2017
- Coinsilium invests in Indorse.io Decentralised Professional Network - June 8, 2017
- Cofound.it Breaks Pre-Sale Record, Selling Out With Priority Pass Before Public Token Sale - June 7, 2017
- Cofound.it Token Pre-Sale Reaches $5 Million Threshold Within Three Hours, Announces First Three Projects - June 5, 2017
- Blockchain Startup DECENT Testnet #2 Launched! - June 4, 2017
- Blockchain Challenge Dubai Announces Winners- Awarded $45,000 - June 4, 2017
- Waves Ceo Sasha Ivanov: Blockchain Will Lead To Rapid Progress Not Only In State Administration, But Also In Business - June 4, 2017
- Exscudo ICO Successfully Concluded – $5M Dollars Raised - June 1, 2017
- Aventus launches Ethereum-based Event Ticketing Solution - June 1, 2017
- Brave Token Sale Blasts Records With $35 Million in 30 Seconds - June 1, 2017
- Japanese Blockchain Startup releases VALU – Social Media Value That Can Be Traded - May 31, 2017
- MetaX and ConsenSys Announce adToken Sale June 26, 2017 - May 31, 2017
- Blockchain Indy Production Start Up to make a TV Series about the Bitcoin Revolution. Fans invest to help tell the story! - May 31, 2017
- Chat Platform Kik to Integrate Kin Token as First Mainstream Adoption of Cryptocurrency - May 31, 2017
- VPN Blockchain Startup Mysterium Network Raises 68,629 ETH ($14,358,975 USD) in under 45 minutes - May 30, 2017