The ubirch protocol can secure IoT sensors in a way that insurance companies can fully rely on the data coming from the insured risks. This is also possible when the insurance company isn’t directly connected to the IT of the insured object – ubirch sealed data can also be verified when it arrives in the IT of the insurance company indirectly.
With the ubirch seal on the data the insurance company can check if the date really comes from the specified sensor/device and whether anything has been changed in the content or the order of data. This check can be performed fully automatically and at a high speed.
A solution like this offers a number of business benefits for insurance companies:
Risks can be assessed better with IoT – Sensors can provide historical information about a machine or a building, environmental conditions can be checked and IoT sensors can provide early indicators of a failure.
Damage Tracking and Prevention
Damage can be reported automatically and reliably. Whenever something happens to an insured risk IoT sensors can deliver data what happened in real time. If this data can be trusted by the insurance the claim can be handled automatically.
Fraud by forged damage data can be reduced by sealing the data from the source. Every manipulation of the data creates a red-flag immediately.
Claim settlement can potentially be automated or at least be accelerated. Condition data can be used to prevent or curb damage
Additional to securing IoT sensors it is possible to seal the data of a smartphone accordingly.
In the case of photos this is particularly important for insurance companies. Using an app equipped with the ubirch protocol damage and risks can be documented, for example. Secured photos play an increasingly important role in the field of micro insurances.
The ubirch protocol can be used to secure and seal production data before leaving the factory. This can address many concerns of producers who want to network their production but who are concerned about the misuse of the data.
Example use cases in Industry 4.0
Production tolerances are recorded during production and precisely sealed in the Blockchain. The following production steps can modify their processes using this data.
Data from the production of all suppliers are used to optimize the assembly of the final product. For example, component carriers with negative tolerance can be combined with fenders with positive tolerance. The final product can be assembled with higher precision without an additional investment on high-precision manufacturing of individual parts.
Cryptographically secured machine data can be provided for connected service providers. By sealing the data all parties benefit from the machine’s “immutable log”, for example when the compliance with maintenance procedures can be proven.
Elimination of intermediate and final checks
In a networked production measuring processes are frequently repeated, for example when goods are shipped and they are received in the plant of the subsequent producer. Sealing the measurement data in a Blockchain – and thus establishing the full reliability of measured data – can help reducing intermediate checks and streamlining processes.
Evidence of origin and production conditions
Sealed data from the production process can be used to provide legally watertight information on the identity and the origin of a part and to save critical factors of the production.
Many processes in the networked industry rely on the concept of the so-called “digital twin”, which means a digital equivalent of the produced good in the cloud. This provides you with all status information of the actual good. The more business processes are based on this data the more essential it is to secure the integrity of this data. The ubirch protocol helps ensuring this using Blockchain sealing.
Cities are increasingly using IoT sensor technology to keep an eye on their infrastructure and to offer digital services. In many of these cases it is crucial that citizens can rely on this data and to prevent fraud – for example while logging air quality data or having an ambulance trigger phased traffic lights.
Similarly, it’s more and more important to offer digital infrastructure for companies to be able to receive or send data reliably.
For example, this could enable car rental companies to use a Blockchain API to check whether a valid driving license is available or not. The ubirch method helps building up reliable infrastructure and providing many parties with data and putting less effort in securing the transmission channels and saving money at the same time.
Complex supply chain and logistics tasks require a largely automatic and data-driven process across all suppliers. This requirement fits the features of the ubirch protocol which offers a distributed security infrastructure based on the level of single data points.
This also means that changing parties in the supply chain don’t have to be connected using the respective IT systems (VPN or similar). Integrity checks can be implemented on the level of ingoing and outgoing data more easily and quickly.
Energy suppliers are faced with the requirements of increasingly complex and decentralized organized networks.
For example, in Smart Micro Grids many decisions have to be made locally rather than using a central control.
Intelligent devices like electric cars have to authenticate to be charged, and there are many means of feeding.
A protocol to secure the used data on current flow, feeders and electrical loads can help securing grids and ensuring that only authorized switch commands can be performed. At the same time the fragmented and local feeding and consumption can be recorded legally watertight and invoiced automatically.
IoT platforms are increasingly faced with the demand for securing data using a Blockchain integration. This only makes sense when data has already been sealed with cryptography as soon as it leaves the sensor, otherwise the use of a Blockchain might lead to the perception of false security.
No one can guarantee that the – unchangeable – data saved in a Blockchain actually reflects the sensor data. The ubirch protocol can be integrated with a large number of IoT devices/sensors and backend structures and can be made an integral part of an IoT platform.
Customers using the IoT platform can choose the sealing of data with a ubirch protocol as an option for critical use cases, for example, when they want to capture data of their IoT devices on a pay-per-use basis.