Register for free to
view the full innovation profile.
Enabling companies to harness the Economy of Things by offering innovative ways to utilize IoT through security-by-design technology and customized solutions.
About
By 2025, 30 billion IoT devices will provide valuable data enabling data-driven decisions, facilitating automation, and offering novel business opportunities. With the rapid rise of IoT devices, companies have started realizing the value these smart devices bring to their business operations. Weeve is an enterprise software company that aims to build the technology stack that allows the remote proof and assurance of IoT data integrity, quality and secure transportation before utilization. We have two patents to execute our solution: 1. Operating a communication network. 2. Verifying execution of a PC program.
Key Benefits
Secure and Interoperable Systems: An industry report estimates that the IoT industry could have a total economic impact of $3.9 trillion to $11.1 trillion per year in 2025, with up to 40% of the value locked in interoperability problems. To tackle this issue at the operating system level, weeveOS will be the first lightweight IoT-Blockchain operating system. It runs on commodity IoT hardware, supports the ARM Trustzone extension, and contains several data protocol and blockchain primitives that allow devices to discover and transact in a secure fashion. This results in more possibilities for data exchange and fewer hacks. Secure IoT Communication Protocol: IoT communications today are plagued with severe security flaws, as companies are very keen on fast production cycles and ignore important considerations to protect their users. This results in the eventual device hackings on massive scales, which could have been prevented with the right precautions. Our TEE-MQTTS protocol extends the widespread MQTT protocol with new cryptographic protections. It is more lightweight than MQTT over TLS, and provides support for Trusted Execution Environments (TEE). The result is higher security, scalability, and efficiency. Signed Data and Execution: Most receivers of IoT device data have no guarantees of origin, reliability, or identity. Weeve’s security protocols include the ability to sign entire programs and their output data to add stronger guarantees around data sourcing. This will reduce the incident of data forgery or contamination while increasing data integrity and the richness of metadata. IoT-to-Blockchain Operating System: There are many hurdles for IoT devices in transacting on the blockchain: processing power is limited, storage is small, and physical security is an important concern. Weeve’s lightweight operating system runs on commodity IoT hardware providing additional security guarantees at the firmware level. It also has support for the ARM Trustzone extension, which parallels the Intel SGX architecture and is more geared towards IoT devices. Secure IoT Wallet Cryptoasset wallets are typically designed for general-purpose computers and not IoT device firmware. Therefore, use of existing wallets with IoT devices results in clumsy, error-prone, and inefficient implementations. Weeve’s secure IoT wallet integrates directly into device firmware, stores standardized smart contract templates, custodies device-specific credentials, and supports advanced devices.
Applications
Weeve operates across verticals as we have established ourselves as a horizontal platform company. Industry Automation: Weeve offers a platform solution to open up IIoT networks while assuring the interoperability with the present infrastructure. The platform serves as a common denominator to extend the trust perimeter to ecosystem partners. Weeve technology provides security guarantees within the ecosystem for the information flows generated by IIoT devices with authentication and attestation protocols. The Weeve platform lays the foundation for reading, monitoring, controlling and billing IIoT data and data-driven services in addition to enabling business intelligence applications on reliable and attested data. Insurance: Insurance companies supporting the Weeve platform activate the benefits of blockchain technology and smart contracts in order to automate billing and claims processes. Weeve empowers the smart technology to securely prevent the insurance value chain from the numerous cyber attack vectors and enable true business models to be built on top. Automotive and Mobility: Weeve provides with its platform solution the common technology layer for the V2V/V2X domain to break out of monolithic businesses and explore the benefits arising from the cross-collaboration with novel ecosystem partners. The platform allows the secure interconnection of vehicles and environmental devices operated by potentially competing players, and implement data-driven applications and services beyond the present technological borders. The platform safeguards the validity of the data and enables vehicle payments, attestation of data, and commercialization of the data through marketplaces. For instance, concepts built around preventing fuel fraud which cause huge commercial damages to fleet providers and transportation companies or safeguarding odometer readings; which enable a true car sharing marketplace to come into effect will only be made possible via a secure and scalable multifunctional IoT Platform.