German start-up Slock.it uses blockhchain to open locks

German start-up Slock.it uses blockhchain to open locks

Slock.it is a physical implementation of the blockchain technology. As a digital locking system, it can be controlled by a smart contract on the blockchain with the help of Ethereum.

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Slock.it is a physical implementation of the blockchain technology. As a digital locking system, it can be controlled by a smart contract on the blockchain with the help of Ethereum.

Slock.it can open anything – from bikes, padlocks and cars to houses and apartments. “With Slock.it, Airbnb apartments become fully automated, wifi routers can be rented on demand and unused office spaces get a new lease on life. It’s the future infrastructure of the Sharing Economy.”, reads on the company`s website (slock.it).

Christopher Jenitzch, founder of Slock.it, said before IBTimes UK (ibtimes.co.uk): “Slock is working together with smart lock manufacturers wanting to implement our technology stack into their products. Airbnb-style apps are of course an obvious use case – but ironically, with a slock you wouldn’t have to use Airbnb, therefore it’s very disruptive and revolutionary in the sense that for the first time, you can open a lock by paying money to it directly, as an autonomous entity.”

According to the founders, the start-up solves a problem. It enables users to sell, rent or share property without middlemen.  Furthermore, it can be embedded in different types of smart objects. “The lock runs an Ethereum client to check what’s happening on the blockchain and determines who is the current authorized user. The user can then sign transactions to open and close this lock using a smartphone.”, said Jenitzch in an interview with IBTimes UK.

“There is more. Slock.it is also a platform for developers.”, said the founders in a video uploaded on their official website. According to them, any developer can build applications on Slock.it.

The technology was presented this November at Devcon Blockchain Hackathon which took place in London. The first reference products are planned to be on the market by mid 2016.

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