Press Release (ePRNews.com) - MITTWEIDA, Germany - Mar 31, 2017 - Slock.it, known for its IoT + Blockchain solutions, has announced today it has secured $2 million USD in seed funding.
Slock.it is building the Universal Sharing Network (USN) project, which aims to revolutionize the sharing economy by enabling both companies and individuals to easily and securely rent, sell or share any IoT connected object.
Build on top of the Ethereum public blockchain, the USN will provide users a set of mobile and desktop applications to find, locate, rent and ultimately control any object mediated by smart contracts, from anywhere in the world.
The Slock.it advantage is a radically simplified user journey. There is only one key (a smartphone) for everything and no need to register or login for the service.
What makes Slock.it’s solution competitive versus the incumbents’ offering is cost effectiveness, interoperability, security, and transparency, all provided thanks to a judicious use of blockchain technology. Developers and manufacturers alike will not need to request permission to leverage the USN as part of their products anyone can join this sharing network as its smart contracts will be released under an open source model.
Christoph Jentzsch, Slock.it’s CEO, is keen to point out that: “Slock.it’s solution is not limited to smart locks. Once deployed, the USN will connect the blockchain to the physical world, effectively giving any connected object including vehicles, white goods and routers an identity and the ability to send and receive payments.”
Stephan Tual, Slock.it Chief Operating Officer, adds: “We’re talking about the deployment of a global, realtime, adhoc Internet of Value: 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”.
It’s still early days for the German Startup, but Slock.it is proud to be one of the first companies to give endusers a realworld preview of what blockchain can do for them. Slock.it is actively recruiting and looking for programmers passionate about decentralization.
Slock.it technology connects the blockchain to the physical world, effectively giving connected objects such as lock and vehicles an identity and the ability to send and receive payments. This could disrupt the fields of transport, logistics and the sharing economy by drastically reducing the cost of transactions.
Quoting the respected Nesta institute, “Slock.it simultaneously cracks the challenge of trusting strangers in the sharing economy while ripping up the rulebook for how those same platforms make their money.” Slock.it was the recipient of the 2b AHEAD 2016 Innovator Awards, the IoT Award at FYFN 2016, the Postscape Editor’s Choice Awards and the 2016 German Mobility Award.
Slock.it flagship project, the Universal Sharing Network, is currently in active development. If you would like to join us in building the USN, please check out the careers section of our website.
Chief Operating Officer