RDDL Protocol
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Trust Anchors as Data Oracles
HARDWARE SECURED DATA ORACLES
The RDDL network is establishing decentralized data oracles for globally distributed machines. In 10 years time, every edge device will have a built in hardware wallet, and the RDDL protocol will be the leader.
Oracles are entities that connect blockchains to external systems…
In the case of the RDDL network, these external systems are machines, machine infrastructure, processes and products along the complete value chain of various industries. This is a Decentralized Physical Infrastructure Network (DePIN).
Everything starts with attaching identities to machines, processes, stakeholders and products.
The RDDL network then orchestrates all these identities and connects them to blockchains via identity attestation, data notarizations, account and value settlement contracts, data exchange policies and a new blockchain primitive - descriptors.
Descriptors describe, document and guarantee the provenance and integrity of data and signals, giving proof to the industrial and regulatory compliance of data. Furthermore, descriptors allow the confidential exchange of data between third parties with a lack of trust to each other.
All machine identities can be defined via simple DIDs (decentralized identifiers), but wherever possible they are defined by TA (trust anchors), dedicated hardware components consisting of a combination of three functions - a hardware wallet, a data logger and where necessary an energy meter.
DIDs and TAs enable the tokenization of machines and machine infrastructures, resulting in the opportunity to define and implement incentive and financial systems on top of machines not possible up until today - decentralized and regenerative financial products like machine NFTs, data markets, micro-loans and investments, carbon-offset markets, green-bonds, green-power-purchase-agreements, material passports and many more.
As machine derived tokens incentivize all stakeholders along a value chain the combination of making machine data and signals publicly available in a trusted and confidential way results in operational and automation benefits like better real-time auditing, predictive maintenance, more efficient control systems and improved cybersecurity. Besides, innovation in the areas of machine to machine communication and settlement, federated learning, secure data exchange and IoT.
The RDDL network is built on top of Cosmos-IBC (inter blockchain communication) meant as a bridging technology between different special purpose blockchains to orchestrate them to fulfill the versatile requirements of one and the same tokenized machine - its data markets on the Ocean Protocol, its energy related markets on the EWF chain, its carbon-offset on IOTA, and so on.
One important, special, web3-related functionality of the RDDL network is its capability to create so-called synthetic- or wrapped-tokens for all network specific tokens involved to directly swap them via the RDDL network itself. This guarantees low fee transactions, easy chain migration and chain-agnostic DeFi/ReFi/MachineFi products.
The RDDL network is set-up as Liechtenstein Foundation. The go-to-market strategy follows a community process which resembles an open, collaborative innovation process built around co-creation. Web3 developers meet with industrial developers to combine the new tool-chains built around AI, 5G, blockchain and IoT with established industrial tool-sets and test the transferability of the new business models.icing access to all services the network is capable of. The token-systems also enables further DeFi opportunities like staking and swapping.
The further development of the RDDL network will be driven by a governance scheme based on voting, The RDDL Enhancement Proposal (REP).