Augmented Chain of Ownership: Configuring IoT Devices with the Help of the Blockchain
Recording the ownership of assets has historically constituted a cumbersome procedure requiring the intervention of third parties that cannot be freely chosen and take a hefty fee. Its high cost had this process reserved for valuable assets such as real estate, cars, jewelry or artwork. The system itself is also vulnerable to corruption as records can be manipulated by malicious actors. The blockchain presents a solution to both these issues.
The blockchain, as a distributed and persistent ledger, removes the need for third parties and lowers the cost of ownership record operations. Consequently, more modest assets such as IoT devices can benefit from this process as well. By registering IoT devices to the blockchain and documenting their transfers, we aim to create a chain of ownership that can be used to keep track and prove the ownership of IoT devices. In this system, a pseudonymous Proof of Ownership (PoO) must be produced and verified before a sale can occur. A PoO can also replace the product’s registration process that currently depends on the original product vendor and requires the user to volunteer personal information to a private company.
An extension is proposed to facilitate remote configuration of IoT devices and to improve the management of device-related secrets for owners that must configure a great number of devices.
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