The world-famous Blockchain technology that made cryptocurrencies such as Bitcoin viable, is getting more attention by industry experts that tend to
The world-famous Blockchain technology that made cryptocurrencies such as Bitcoin viable, is getting more attention by industry experts that tend to find new ways to use the network of trust a decentralized distributed ledger offers.
While we’re used to seeing decentralized ledgers being used to create monetary value, attached to digital assets, and traded through the network (see Crypto Kitties), tech behemoths like IBM, Samsung, and even Walmart are using blockchain technology to identify and track physical assets and products such as imported groceries, clothes, and even cars.
In addition, a new firearms firm called Justifire filed a patent to use blockchain technology in order to track the activity of a gun and even identify the owner/ temporal user, through what they call a “black box” for guns.
The device, which looks pretty much like a traditional videogame attachment for your weapon is able to monitor environmental changes, audio, video and other data that can help access the intention of the user, as well as the overall situation of a supposed conflict.
A closer look at the patent reveals that the 3x3x1.5 inch device will utilize blockchain technology for e2e data integrity. The DLT network will be used to store, distribute, as well as monetize the pulled data in order to incentivize node participation.
“Nodes of the blockchain network may include client devices, servers, and firearm environmental recording apparatuses, and tokens of a cryptocurrency may be provided to nodes for performing data transactions in the blockchain database.”
“Justifire uses a combination of autonomous sensors to capture every aspect of any given situation. In case of self-defence, this data can be used to recreate the actions and events leading up to and after discharge of a firearm,” he says the CEO of Justifire who is actively looking for investors to help him realize his vision.
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