BCL Foundation has announced the launch of a project to create a full-scale public chain for enterprise from Singapore, the BCL Chain, which aims to connect the virtual and real-world through the power of blockchain and IoT devices.
Through the BCL Chain, enterprises in Singapore, Japan and around the world will be able to lock and unlock both digital and physical assets automatically through smart contracts. This is possible because the BCL Chain has added a new layer — the device layer — to the traditional blockchain structure, allowing IoT devices to be directly connected to the infrastructure layer.
“The BCL Chain is designed specifically for the sharing economy. From property and space rental, hotel check-ins, to home and supplier deliveries, BCL Chain empowers organisations and individuals to safeguard their personal and shared spaces. Tailor-made to meet the needs of every customer, we expect this new concept to take off in a sustainable and scalable way as the adoption of blockchain continues to evolve,” said Mr. Ken Okamoto, CEO and Founder of BCL Foundation.
The introduction of BCL Chain provides a solution to the needs and demands of today, through a tokenized sharing economy. Through the BCL Foundation, enterprises can participate in a BCL mainchain — a decentralised commercial public chain with a built-in token economy that allows partners to launch their own BCL subchains, even issue their own assets.
The simple concept is meant to ensure scalability and ease of use in the long run, promoting the concept of lock as a platform. To further streamline the process, the BCL Foundation provides consortium partners with dedicated smart contract templates, customised for the smart lock and the sharing economy. The templates allow developers to significantly reduce time to market and development costs by eliminating the need to learn a new programming language.
“There is no need for enterprises to worry about ease of use, either, as any third party participating in the BCL ecosystem will be able to create its own unique service through pre-set options. This allows businesses to set up their own blockchain business in a few simple steps,” added Okamoto. “Of course, there will be room for companies to make changes accordingly to ensure that it matches their specific need and use case.”
Upon joining the BCL ecosystem, companies will be offered a high-performance IoT smart lock, connected directly to the infrastructure chain through IoT Cloud. Additionally, BCL Foundation plans to integrate more IoT devices, such as a Smart Delivery Box, Smart Appliances, and Smart Cars together with third-party ecosystem partners in the near future, opening doors to more spaces and assets to be shared. The BCL ecosystem will also introduce the concept of authenticating and paying between devices.