How blockchain and the IoT is laying the groundwork for the digital economy

Over the last few months, several pioneers in the blockchain space have spoken to bobsguide about the exciting new world of the digital economy. Indeed, we’ve experience firsthand the sort of wild speculation rife in the community. It’s very well to hear about the future changes to society but we’re interested in how those changes will come about and what initial steps need to be taken to sort sci-fact from sci-fi.

To that end, we spoke to Samantha Radocchia, Co-Founder of Chronicled, who is combining IoT and blockchain to automate supply chain processes and put the necessary groundwork and infrastructure in place before the oft prophetised digital economy can take off.

How did you come to Chronicled and what does Chronicled aim to do?

I personally co-founded two companies focused on inventory management and ERP systems which is pretty similar to what Chronicled is doing now.

We founded Chronicled in 2014 with the mission of finding non-cryptocurrency use cases of blockchain. We looked to represent non-financial assets on the blockchain so anything from cars, luxury goods, fine wines to IoT devices.

The reason for this was to be first in market to register unique digital identities. On top of that, we believed we could build upon that unique identity to power interactions in supply chains and the machine economy. We use the blockchain as a trusted and interoperable backend to power these automated supply chain processes that other systems can plug into.

As an example, think about a car that’s hooked up to the petrol pump and can pay for its own fuel using smart contract payment; in this way you can have complete machine economy automation.

It sounds like you are looking to use blockchain to smooth operations in the digital economy.

Correct, it’s one thing to tokenize and digitise assets, but without the additional information ensuring the authenticity, quality, and physical identifiers it would be very difficult to build financial economies on top. We’re the layer of digitisation where we interconnect and test the existence of these uniquely identifiable assets along with the necessary additional information.