Smart lock, in our definition, is a 'lock' which knows when to open for the 'right person' at the 'right time'. This unlocking can be done via digital authentication, if a person has the legitimate private key, which in the case of blockchain, will allow the person to access the property by allowing the lock to be opened. BCL Smart Lock records all the transactions of ownership changes against blockchain and verifies the 'rightness' of the ownership. This is what we refer to as the 'tokenized sharing economy'. All ownership changes will be recorded against the blockchain in an immutable way. The ownership will be tokenized and be transferred from A to Bx and back to A. This is the abstraction of a lock which links the physical world and digital world.
With the emergence of BCL Smart Lock and BCL Chain, sharing of assets and spaces will become simpler than ever before. BCL Foundation will launch "Physical Asset Decentralized Rental Exchange (PADREX), a space-sharing platform as our first use case. By using PADREX, safe space rental can be easily done simply by installing a smart lock connected to the BCL Chain in the space of an apartment or office owned by the property. PADREX is not limited to apartments.
Each device can be connected directly to the BCL blockchain network, enabling executing smart contract safely and quickly. Starting from smart lock, BCL Foundation is committed to expand smart blockchain devices onward.
The IoT Cloud layer connects chain and devices. In orderto facilitate the development of DApp, the SDK and smart contract templates are provided.
The infrastructure layer consists of the BCL main chain and the accompanying BCL token, and the BCL Subchain that can be launched as needed for each business of each consortium partner.
By adopting the BCL Chain as its own consensus algorithm, BCP or BCL Consensus Protocol, it is possible to securely execute payment between devices and execution of smart contracts. Another feature that the BCL Chain is designed to serve as the basisZ for the fundamental commercial blockchain service is that the consortium partner is able to launch its own subchain on the BCL main chain. This design enables each consortium partner to quickly and safely launch its own value transfer business for its own benefit. As a result, the position of the BCL chain as a safer and more powerful commercial blockchain service infrastructure supported by more consortium partners are established.
Former head of Rakuten Blockchain Lab
Former executive officer at SRA Inc
Former EVP at Rakuten USA Inc
Blockchain and IoT device service provider
System integrator and consulting
Established in: 1965