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Smart Home Inventory Management using a Private Blockchain and a Purchase Order Contract

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Smart Home Inventory Management using a Private Blockchain and a Purchase Order Contract

  1. 1. Smart Home Inventory Management Using Private Blockchain and Purchase Order
  2. 2. Motivation •  Twenty-eight billion Internet of Things devices are forecast by 2022. •  Current infrastructure – A cloud based centralized database model has two limitations •  Blockchain could be the solution
  3. 3. Objective •  Reduce dependence on intermediaries •  Distributed – Single point of failure – Bottlenecks
  4. 4. Public vs Private Blockchain Public -  Bitcoin -  Privacy and security : Everyone can access -  Difficult to scale : Proof-of-Work -  Distributed : Every participant is equal Private -  Eris -  Privacy and security : Only stakeholders can access -  Easy to scale : Proof-of-Stake -  Decentralised
  5. 5. What is this? •  Inventory management system(Prototype) •  Home devices purchase items from market automatically
  6. 6. Who will be using this? •  Homeowner •  Device •  Supplier •  Yet, potentially more stakeholders – Bank, Deliverer, Government
  7. 7. How it works – Overview 1.  Homeowner set up the environment –  Supplier verification –  Device registration –  Purchase order pre-set up 2.  A device creates and broadcasts a purchase order 3.  Suppliers receive the purchase order 4.  Transaction occurs with the lowest bidder
  8. 8. How it works •  3 JavaScript applications – one per one stakeholder •  1 Eris-db (Private blockchain)
  9. 9. Demonstration
  10. 10. How it works – Purchase Order •  Can be started by Device. •  Contains Itemcode, max_price, quantity •  Can be closed when both device and supplier agrees
  11. 11. How it works – Purchase Order Manager •  Purchase Order Manager(PO manager) is a smart contract •  Creates Purchase Order(PO) smart contract •  Sets permissions to access PO and PO manager
  12. 12. Result •  Reducing dependency? – Direct transaction between device and supplier •  How decentralized is it? – Every participant keeps a copy of database
  13. 13. Future Work •  Disintermediation – Financial transaction, Deliverer •  Privacy •  Big data •  Testing •  Deployable software
  14. 14. Achievement •  PO manager – a smart contract that creates and manages smart contracts •  PO – Signed by multiple parties •  Inventory management use case – original attempt using PO •  Research contribution

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