Riddle&Code Physical Blockchain – Smart Enabling Validating Contracts?
Riddle&Code is a platform that connects physical objects to the blockchain. Keep reading to learn more about how this unique technology works.
What Is Riddle&Code?
Riddle&Code is a platform that acts as a bridge between physical objects in the real world and the blockchain. The platform promises to build that connection in an “uncompromisable way”.
The key technology behind Riddle&Code is the open source crypto-platform. That platform prevents counterfeiting, allows for secure identification and authentication, and works with know your machine protocols.
But Riddle&Code is more than just one platform: it’s a complete suite of crypto services offered across industries. Together, this suite of tools wants to help us manage the growing internet of things (IoT) and all of the devices we use in our daily lives.
As Riddle&Code explains, “We don’t create the rules. We create the environment to establish them.”
One of the ways in which Riddle&Code will be used is by embedding tags into certain objects. A tag might be inserted into a smart device or an article of clothing, for example. That tag tracks and verifies the physical object while connecting it to the blockchain. Riddle&Code’s tag system is called “Tagtok”.
How Does Riddle&Code Work?
Riddle&Code is based on an open source crypto platform. That platform provides three core services:
Provenance: With Riddle&Code, products need to prove at any time that their provenance is the expected one.
Identity & Privacy: Riddle&Code lets you protect your personal data and identity. You can guarantee that your identity is only used according to your interests.
IoT Compliancy: The internet of things devices around us should behave in accordance with expected rules. Riddle&Code creates a platform where someone can establish those rules.
How does Riddle&Code accomplish the above features? It uses three separate solutions. Those solutions include:
Virtually every industry is affected by counterfeiting. Riddle&Code’s official website cites a study by the Counterfeiting Intelligence Bureau (CIB) that states counterfeit goods make up 5 to 7% of all world trade.
Riddle&Code plans to solve this problem by creating an unbreakable link between the product, the brand, and the owner throughout the product’s life cycle.
Together, these anti-counterfeiting measures will protect intellectual property (IP), preserve the value of items over time, fight against grey markets, and prevent fraud.
Identification & Authentication
There are two elements to Riddle&Code’s authentication, including Physical Identification and Digital Authentication. Obviously, identity theft is an issue that affects millions of individuals and corporations around the world.
Riddle&Code’s solution creates digital and physical certifications simultaneously. Those certifications are 100% compatible with the blockchain, allowing individuals, businesses, and governments to validate in real-time the identity of any person on the blockchain.
For physical identification, Riddle&Code’s platform can identify any type of physical object. It can validate the provenance and legal ownership of that physical object. It lets you check contracts (like insurances and service contracts) that are bound to objects themselves.
For digital authentication, Riddle&Code can guarantee that contracts were never manipulated. It can guarantee those contracts originated from the right source, and that they’re still valid.
Know Your Machine
Riddle&Code uses a tag system (embedded between the layers of any product) and a token (kept by its owner). These two elements together can give proof of provenance, proof of ownership, and contract fulfillment. Companies can choose to secure their products with the Riddle&Code solution.
In terms of the internet of things, Riddle&Code can insert a chip into a smart device – like a car or refrigerator. Or, for wearable devices, Riddle&Code can transform 100% analog products into a digitally addressable asset. Basically, it can make something as simple as a t-shirt a “smart” product by adding a chip and connecting it to the blockchain.
What Is Tagtok?
Riddle&Code’s key innovation is called Tagtok. It’s an active tagging and token system that works like a micro-blockchain processor. It combines an active NFC transponder, energy harvesting modules, and crypto ICs together with tokenized, multi-signature blockchain transactions.
Some of the key features of Riddle&Code’s Tagtok include:
- Flexible: The technology is “blockchain agnostic”, and works with Ethereum, bitcoin, etc.
- Hardware Secured PKI
- 0.7mm thick
- NFC with Energy Harvesting System
- 2MB of on-tag storage
The tag is also Arduino environment compatible. Because it harvests energy from the outside world, it doesn’t need to be charged or attached to the battery. It just sits in an object to verify and maintain its identity and authentication over time.
Who’s Behind Riddle&Code?
Riddle&Code, Ltd. is incorporated in Malta, although the LinkedIn page lists the company headquarters is in Vienna, Austria.
You can contact the company by email at [email protected]
There’s limited information about the company available on the official website. Crunchbase, however, has a more detailed profile of the company.
The company was founded by Tom Fuerstner (CTO). Other key members of the team include Alexander Koppel (CEO) and Alvaro Mier (CCO). The company has raised an undisclosed amount in two funding rounds since being founded in 2016.
Riddle&Code is a way to connect physical objects with the digital blockchain world. Riddle&Code has created a tag system called Tagtok that can be inserted into clothing, wearables, smart devices, and other products. That tag tracks an object as it travels through the supply chain.
Ultimately, Riddle&Code could change the way we exchange physical objects in a digital marketplace. It acts as a bridge between the blockchain and the real world. You can learn more about the unique company solution today by visiting RiddleAndCode.com.