okay so and for those who don't know me
I'm Christoph yenge I'm working actually
I'm a theoretical physicist that's my
background but I'm working for the C++
team the etherium and working on the
tests so all the clients use my tests
basically and that's what I've done over
the last year but now I want you to know
a bit more about Lockett so what is the
problem we are trying to solve so most
of you have a lot of property think
about your house your car your washing
machine a lawn mower your bike a lot of
different other things but you use them
only if like five percent of the time
most of the time that's just sitting
around there don't do anything so now
the problem comes how could you when
sellers share them easily and that's
basically a problem we are trying to
solve so when you try to rent them there
are a lot of problems which come up for
you such as doing the payment it's
organization so we actually to meet
someone and speak to someone know I'm a
German and we don't like this so we want
to have this completely automated and
you to match the user somehow you need
all the security all of those kind of
things so it's a real problem to rent
out small things which only cost like
one dollar that someone can use a bike
for 20 minutes or a washing machine and
so those the problems we have that's the
reason I usually just don't do it you do
it maybe sometimes for the big things
and use some platforms for it but we
want to show in our solution which is
basically a lock that can directly open
by paying it
I mean paying the lock now we are just
not talking to paying someone else so
how does this work the basic process is
very simple the owner of a flock
hence their two numbers which is a
deficit and a price and then he's
basically done you just need to do
anything else just block his property
business lock now when a user comes
along he just needs to pay the deficit
after he's done this he has access to
open and closed or switch it on and off
as often as he wants to he is the
current user and he can also send some
other SAP users like family and friends
because he paid for it so they can also
use it so we have a user management
system included and then let's say he
used it for a couple of days and then he
returns it when you transit after a
while he gets back his episode - the
costs and the payments or the cost they
go directly to the owner and this of
course happens automatically on the
blockchain without anyone interfering
that's the recently visualization of the
smart contract behind the slock okay so
now how does this work under the hood of
course it's a smart lock connected to
the theorem blockchain that's why I'm
talking here so what do you have you
have now this big block and what what
belongs to us lock first of all there's
a smart contract which I just explained
which is running on the theorem
blockchain everyone can read it of
course the code is open source it's
actually so easy to read that if you can
if you are a developer even not a
developer but I think you can understand
and it's just sweet it here's just a
part of it it's that's a part of the
closing function I need to make it nicer
after that latest little T updates but
yeah you just sees I'm saying here that
the user gets sent to deficit minus the
costs and owner can tend to cost and now
some other educators handled here so
it's really simple to eat and you have
to smart contract so what are the things
how is the user interacting with the
smart contract all he can do is paying
the deficit open we open close that's
all the interactions he does on the
other side owner what he can do to sue
the smart contract setting a deficit a
price he can also open closed on
restricted basis
so if he's not if that's if it's rented
out here of course cannot open closed it
but if the user has used up his deficit
then you can kick him out so if all
those rules implemented in the smart
contract so but how do we now get the
connection between the smart contract
and the device so we have those little
tiny embedded devices you see more more
coming like this you know the rest by
your PI many people have played with it
but even better ones you see they're a
little in Toledo some really really tiny
and we got a full client running on it
so it's been I say full Klein I mean
approved client so it doesn't need that
much storage so the C plus last line of
course and we also got some in couple of
months will be something from Samsung
calling the Arctic coming out even Tonya
and the spec are good enough that we can
remark that we can actually want a
client on it so in those devices now can
talk to existing smart devices we can
use bluetooth set way for sick p4 don't
of you who don't know separate from
stick be it's just used in smart homes
so it's a smart home technology
connecting all the smart devices in your
home and there are thousands of
different set wave and sikri products
out there which we can connect to so I
would not call us directly a hardware
manufacturer which is connecting to all
of those existing devices out there and
just enable them with our smart contract
to be controlled by the blockchain
instead of just by an F because you know
all the Internet of Things you have
those cool devices but basically all you
can do is just controlling them with an
app it's nice but controlling by the
blockchain this gives you complete
difference in now yours and use cases
okay
now let's come to other products what
have people until now
the first thing we come out with is ass
lock home server and i will now try a
real life demo on real life net so
really hope that it works that you turn
off all your wife eyes and
so this is how our app looks like we
have it on Android and iOS so what if
for justice user doing so he can now
hear if he has the name of this lock
which this log on a record stood on the
blockchain then he gets the public key
from there otherwise you can type in the
address or just scan in a crack code to
get the public key after smart contract
so for now just let's use last used
locks for example a power switch and
this power switch the owner set here 10
deficit in buyers at the subunit of
ether we Lok and the price and viper
minute for example what I would do now I
rent it and this is now sending a
transaction and the ethion blockchain so
now we wait for one block to confirm it
but you could do this like couple of
days before you don't don't need to do
it when you're in front of it so we need
to now one block to to get a syntax to
confirm that's actually really happening
on the life if you network right now so
after this transaction is going through
I am the current user in a smart
contract and then I have access to open
and close it so now it's done thank you
- and now if I for example push this
open button and this power switch there
goes on okay you can think about here -
just the kettle but you can think about
a washing machine a trial which just
went out in your shared apartment for
example and it lets us say your shared
apartment five people one bought a
washing machine so other people want to
use it they just pay one ether of one
dollar to use it but you don't need to
handle any of those things payments
automated the device is really connected
to the blockchain so you can yeah you
can have a lot of things behind the
power outlet just get your imagination
going in industrial processes like
paying money to use a big machine behind
the power outlet a lot of different use
cases
let's I'm going to show you something
else - like for example the door lock
and if you just use a small door lock
and I can do the same thing I see the
deficit is now handed ISA the price per
day is
ten Issa so I'm now renting out the
stored and I'm just using now my slog
home server to connect to all those
devices so people will already have a
smart home yeah it can now say I can
control all those devices with the slock
home server so basically you have a it's
theorem client running in your home you
know there's this startup making the
Bitcoin computer and you know but here
we have the etherion computer in your
home controlling all of your devices so
let's narrate for the - so they are done
now so here you have a closed door this
is the door locked
smart he could buy on the market
and Amazon today and I could now say
open and it now they sent a whisper
message that's important and confirm it
I hope you can all see it they click
it's turning around for those influences
and now how does it stand because of
scalability if you don't know what want
to send a theorem transaction for every
time you open closed something so you
only have a theorem transaction for
renting it and returning it but in
between we just use visible messages but
I can see it's the signed by the wide
public key which I can find the
blockchain if so I execute open or close
so this goes therefore it's much faster
me over in front of the door it's just
the device for matches it takes about
one or two seconds and it opens you do
not need to wait one block to confirm
this so when I'm done using it I can
return it then I can take my deficit and
minus the costs and the owner gets this
cost but so as simple as that so this is
how the app works okay also it's just
another feature which I like you can
think I'm here in front of those devices
but you actually don't need to be I I
can turn out you know we have a bubble
machine there doused and I already
rented it so I can now open it and you
know we'll see the bubbles going coming
out there so you can imagine I'm
standing in front of the door I don't
have money I just call a friend could
you please open this door for me just
sent them either to this account and
it's open
so because on the blockchain is
international that works so I'll close
it because people don't like it
sometimes to get too many bubbles
okay this force about the products so
what else do we have
and this supports that wave stick be a
bluetooth we made I called all in one
box a slot power switch here we use this
little tiny int 11 connected to relay to
just switch power on and off so you
don't need a slot home server for this
home service good if you want to control
many devices in your home or something
like a door lock but you want to have it
cheaper and all in one box then you have
for example the slot power switch you
see those prototypes on most and if you
want to try them out now that's really
just the beginning and we are currently
speaking to buy clock manufacturer
they're doing smart buy clocks so it can
really rent out your bike for example
just lock it with a slot and then you
can leave it for three or four months
and people can just find it unlock it
drive around leave it there with GPS you
can say rather should leave it and so we
are partnering up right now is a bike
lock company if also company building
small pack love padlocks so thinking
about just a locker they can have some
stuff in there lock it and people pay to
open it and get it I could imagine for
example a store which is open 24/7 is
out any stuff and the things in there
are just locked with this lock you can
go down the middle of the night because
you really need a smartphone and then
you just unlock the lock pay for it grab
it and go so you can really automate a
lot of things so everything you can lock
you can now when send shared so it's a
real powerful platform to be used and
every time I talked about this to
someone they came up with different use
cases like having a parking slot for
example and out your parking slot in
front of your door other use cases and
use your power order to charge car so
the electric cars can park in front of
just your home and they paying you for
getting some energy of your house before
they go along driving so there's a lot
of things you could do with this
technology so our vision of course is
far greater than just the Chairman
sharing economy that's where we want to
start but you know in a lot of things is
going to be a big thing I think the
first thing when a developer sisters he
thinks about our scalability you can't
do this on the etherium blockchain to
and not to the good thing is that's a
for IBM Islam song they cannot put all
the device on the blockchain but
actually we can because you don't have
that many devices yet so scalability is
not a proper for us the next coming two
or three or four years and I hope until
then Vitalik has solved the problem so
but for the next couple of years we
won't have a problem because really the
ethion transaction only to random you
turn it everything else or just whisper
messaging so it's just basically a user
control system on the blockchain so we
are hope that we are really the first
one to bring together IOT and blockchain
war on the etherium and i think that's
the first real prototypes to see working
everyone's talking about this big thing
IOT blockchain but it just did it ok
I hope those things were amazing to you
but we have just another thing and a
really cool thing like we're speaking to
investors and this there are some
investors who want to give us some money
and I have some how do we do the
business model how can we make money we
talked for hours about this and you have
this aetherium blockchain now so we
thought we can do much better today we
do not need it to do it old way we can
do it in the blockchain way so what is
the blockchain way of creating a company
of course it needs to be in Dao so an
IVA how today show you how to CEO a
decentralized autonomous organization
will work so of course they have to do
and you have service provider I hope for
the first time we will be the service
provider but actually they are free to
choose which any for any service
provider they want to so this the
overall has of course a smart contract
in the blockchain where the constitution
of the deal stands
and you can interact up and equus so
what are the tasks of the do first of
all they fund the development so we will
do a pre-sale will do a fundraising like
a crowdfunding and that's where we need
your help I will now explain to you what
you can get from this when you
participate in our presale our
crowdfunding so you found the
development you are able to vote and
make your decisions and very importantly
you control the funds so when we do this
crowdfunding the money will not go just
to us like all the money to us and we
can maybe use it good or maybe use it
bad you stay in complete control of the
funds and your goal isn't to be a
profitable deal so this is a four
prophet Dao so how does it work
of course you send some Issa to the CEO
and you get some slot tokens which are
basically just membership in this tio so
you have a right to road and very
important you get a reward I will
explain later how this works
but you can think about this like buying
shares in a company in getting actually
dividends and I don't know if that many
crypto tokens out there where your exact
of volatility just get a dividend a
monthly basis of weekly basis there's
something you invest new care dividends
compared to how much we quo I will
explain you how the students come to you
and of course you wrote on major
decisions like how to spend the money
where it where you want to send the
money to so then you give some tasks and
orders to a service provider usually
through a smart contract and we will set
up for this so what is the service
provider - so the first source provider
will be Lockett gmbh in germany and what
we do we produce this locks we do the
marketing the partnerships there's all
those hardware manufacturers which are
producing smart blocks
so this basically our task and we need
money for doing this so but how are we
rewarding you now and this is the
interesting thing we can do it actually
automatically on the blockchain so if
you don't not need to trust us to pay
you out or to send some money to do so
how are we going to do this so how is
the reward going back and to the do so
there are two ways of doing this and
actually the owner of this lock has an
option either yes a certain percent of
fee for every transaction so basically
if I rent out let's say this apartment I
pay 1% to do every time and I do the
vote and how many percent is is if you
the do make it high then it's hard to
sell this locks but if you make it low
Rick maybe can sell more so we need to
talk so but let's say you have size
0.51% 3 so every time something is using
its locked renting out something you get
a direct payment to the deal and you can
get your shares all the time there so
it's out in the field it means if our
GBH is gone so stream ph is the like you
like a limited in germany and if we are
gone this still works you still get
payments as long as there's locks out
there stocks out there you get you get
your money
another thing would be because we spoke
to air our Airbnb hosts you're staying
in a BB here we just found out that our
host is also here
so just by chance he know what about
blockchain he wants to indicate us now
and but he didn't like to pay 1% all the
time so but he said what he would like
to do is have like a one-time deployment
fee so he could free yourself of this
rule like paying 1% all the time and
instead paying a certain amount of money
which to do decides how much this will
be let's say like 10 to handle dollars
and every time someone deploys a smart
contract for his flock this money goes
directly to the deal so we can make it
happen on the blockchain that you who
participated in the crowdfounding gets
your money back all the time as loggers
use this log is solved or they use it
for sharing something so this is the
real deal the deal stays in charge of
the funds and maybe to say we have a
good marketing campaign going on there
you send it to them they promised us -
if they make a good job we said money to
them again so it's like not sending
money to us with one thing one step but
really staying in control yes looking
maybe we can use some nice tools we saw
here at the DEF CON some great tools for
managing and the CEO will look into this
and then make a decision which one to
use okay so that's the complete picture
you will see now for the first time a
will do we have we have spoken about
this last one or two years but now it's
happening we have a real decentralized
autonomous organization well you can
participate by in shares and get
dividends back completely automate on a
blockchain so if you believe that IOT
blockchain sharing economy has some
future you should invest try this out
and participate really in this video ok
now just who are we for now this is the
team I explained Who I am
core developer the steepest pass team
this is not by chance that is the same
name see - my brother he's a great
developer for over 20 years now working
for large German companies like Deutsche
Bahn and other ones and I think some of
you may remember 7 tool I hope so yes he
has worked for for we sign for other
page and other companies he has been the
former the former CTO of etherium so I
think he makes a great job for strategy
and market development
I think you have a create team in place
and other people suing that fight a
black riff I have not mentioned them
here and we're helping out right now
with the community so if you're building
this community you're building this do
and in a couple of months or weeks time
you will be able to participate in this
do so yeah thank you very much
so something that timestamp measurements
but this could be done it might be done
but you haven't done it you know like
for now what we have done is this log
home server a smart contract and like
controlling smart device in your home
but of course you know things we can we
can do other things it's not too hard to
do IOT just connected measure how much
goes through it yeah also if you have
some great ideas for new products please
join us on or email you can set up an
email list we invite you to our slack
that we just cast all those things that
we can come up with new products for
using is the killer depth real power
application just let us know we can
build it after this the owner gets
access again so he can take he loses
access from 12 to the lock and user the
owner has 10 access control of the log
hi what about the network transaction
fees they are so tiny like if we preload
this log home service 5 ether this will
last a while just for transaction fees
so that they need to go to the exchange
and get some easier to do this
somebody's thing is just pre doubt pre
loading it with a couple of ISA this I
know no it currently is saying is 0.02
dollar send something like this turn the
transaction so he can make thousands of
such actions there's a little bit of pre
noted ether
how do you plan to solve the problem
where the final end user that is renting
the machine doesn't need to know or
understand that he will or have any turn
so we try to solve this of course in our
app what we thought now is just using
ether so in the future we are also
planning that you can pay us paper or
credit card but then you have a
centralized exchange between so this
basically means like for you guys who
know how to use these some
cryptocurrencies it's a completely
decentralized system working without us
but if you don't use cryptocurrencies
you then we will offer a service for
those people that is really easy to use
we do all the work behind and we will
probably charge of free photos to make
some money out of this if you use the
decentralized way but for for you paying
with ease though maybe with a Bitcoin
relate a a Bitcoin it's free free of
charge thank you very much