The goods tracking blockchain startup has launched an open source toolkit allowing to register various objects on the Ethereum blockchain. The team hopes it will help to build the global Internet of Things.

The toolkit, according to the site,

“allows any brand, physical IP creator, product authenticator / customizer, or individual to assign a secure digital identity to a physical object by embedding an encrypted microchip and linking it to a blockchain record.”

The near-field communication (NFC) and Bluetooth low energy microchips are provided by Chronicled. However, the company says that while it is “initially playing the role of project sponsor,” in the future, the project is intended to become “a public good that lives on the blockchain, with participation from many partners and brands and without any dependency on Chronicled.”

Ryan Orr, CEO of Chronicled, sаys that the initiative is aimed at making various IoT registries interoperable. Right now, according to him, the development of the Internet of Things is slowed down by the lack of standardisation, which does not allow smart devices to interact with each other:

“Machines need to have identities so that machines can come to a decision on whether or not to trust the other machine or to understand where it’s from, which services it might be able to offer.”

Chronicled runs a project dealing with tracking of luxury and collectable footwear on the blockchain. For the Fourth of July this year, Americans cоuld buy a limited edition of classic Reebok sneakers with the colours of the American flag featuring Chronicled chips registered in the blockchain. In March 2016, the company raised $3.5 mln from Colbeck, Pantera Capital and other investors.

Alexey Tereshchenko