CPChain Crosses the Physical and Digital IoT Chasm Using Blockchain, Edge

By Cynthia S. Artin June 29, 2018

While CPChain, a distributed infrastructure platform provider based in China, may be most well-known for raising $30M in less than 48 hours in an ICO completed in January 2018, the company may become better-known if their parallel distributed architecture for data storage and sharing – or PDash – truly solves for problems inherent in today’s IoT and IIoT systems, particularly when it comes to edge device management.

CPChain’s technology integrates blockchain and encryption via cloud storage to enable IoT devices to interact with different data sets over cross-chain applications, making communications and interconnection less expensive and complex, while making the sharing of data across different systems and applications more secure.

"While it has the power to change our everyday lives, IoT remains fragmented and comprised of various incompatible systems, fraudulent data, and risky open network sharing that can lead to a breach," said Dr. Long Chengnian, CEO of CPChain. "PDash addresses these major hurdles by connecting data providers and users more efficiently and securely via a chain that unites and stimulates all data sharing participants. We're excited to give our fans and future users an inside look at our innovative platform."

While the platform will not be generally available until October, based on the company’s description, it will be feature rich, including wallet and market features, as well as a proxy network, without the need for expensive data miners to solve cryptographic problems to verify transactions.

While the majority of blockchains require miners, enabling data blocks to be attached to their respective blockchain, and entire reward systems have grown as more and more miners perform computationally intensive tasks, CPChain is on a mission to deliver a distributed technology using a parallel-processing approach. The platform incentivizes users to share information and assure the quality of data listed in the marketplace leveraging its decentralized proxy network to ensure the data is intact and can be retrieved by the user.

In their white paper, CPChain describes a novel technology of combing cryptography and distributed hash table to solve for known scalability issues associated with data storage on blockchains, a distributed consensus protocol designed to support ecosystem cooperation, and re-encryption and homomorphic encryption for additional security.

The PDash wallet feature enables users to make transactions and manage data when making a purchase, placing a focus on the data's value and it's sharing lifecycle.

The marketplace allows users to view and purchase data or upload it for sale.

The PDash tokenization strategy rewards valid transactions and punishes fraudulent ones.

Driven to Greatness
While the platform is still in development, CPChain’s team is already at work on specific industry vertical applications, including automotive/transportation, supply chain/industrial, healthcare and financial services and fintech.

CPChain, for instance, is working to help drivers better control their driving data.

By implementing CPChain gateway hardware at key components of vehicles such as OBD, all the driving data can be integrated into the user interface for the driver.

At that time, they will have full control of their driving data. Within the CPChain marketplace, the R&D team of BMW may need data from a million drivers for R&D and can post their requirement in the marketplace.

Drivers see these requests and feel they have the data BMW wants. Then they can decide whether to sell the data for some CPC or not.

Moreover, with CPC/token in hand, they can use such tokens in either investments or online credit shopping centes.

PDASH will be the fundamental structure for this flow to run.  This use case scenario is only one of the many that CPChain can integrate PDASH into.

Other potentials include shared vehicle, EV charging, automatic driving training, vehicle-to-vehicle interaction, smart parking, and more.

The company has developed an interesting “ecosystem mix” of investors and partners including the Trusted IOT Alliance (TIOTA), Torque Capital, High Performance Blockchain (HPB) and VeChain, and was co-founded by an expert in blockchain (Dr. Chengnian) and Dr. Zhao Bin, who has secured three patents on IoT inventions.

Edited by Ken Briodagh
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Contributing Writer

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