BARTER – Blockchain-Assisted Real-time Transaction Execution and Repository framework
BARTER is a blockchain framework built on top of open source projects Hyperledger Fabric, Dash and Bitcoin and our ChainRider service. It is a micro-payment enabler service that can be exploited to support a range of use-cases that need a secure and scalable M2M micro-payment solution specifically designed for IoT ecosystem. Hyperledger Fabric is an open source enterprise-grade permissioned distributed ledger technology (DLT) platform. ChainRider offers an ecosystem of tools and services built around public and private blockchain which helps in prototyping and building proprietary applications on different blockchains. BARTER integrates all of the aforementioned solutions to provide a private blockchain infrastructure for blockchain-assisted micro-payments, private data storage and smart contracts management. BARTER is a decentralized private blockchain infrastructure with deployed smart contracts for automated micro-payments and data storage, allowing autonomous interaction between IoT ecosystem entities in carrying out everyday business workflows. Regulations, ethics, and business rules are built into smart contracts, which are stored on BARTER’s Hyperledger blockchain and provide REST API interface for integration with IoT devices. This arrangement increases the security of M2M transactions and enforces contract performance.
BARTER has been selected by VICINITY Consortium to provide IoT vertical-agnostic micro-payment solution for VICINITY platform by leveraging ChainRider’s blockchain as a service . M2M use cases will use a set of smart contracts focused on micro-payments with Dash and Bitcoin cryptocurrenciesas well as a set of smart contracts for private data storage and sharing.
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