Abstract
Blockchain's properties in addressing trust in highly decentralized environments can make it an enabler for novel sharing economy services. In this paper, we demonstrate the practicality of blockchain-based Secure IoT as a Service ( SIoTaaS), where an IoT device can be rented from a service provider, securely and in a privacy-preserving fashion. Our framework allows the simultaneous operations of distinct providers of IoT-based sharing economy services at a large scale. Multiple parties can securely share text and multimedia in the context of location and point-of-interest sharing, perform financial transactions by hiding true identity of parties involved in various online transactions, perform user and IoT registration, transfer value transactions via Ethereum tokens between providers and consumers, as well as raw IoT data payload. This can turn smart room IoT devices, such as smart locks, light bulbs, air conditioning and fans into rentable business entities within a secure sharing economy platform. We will demonstrate such a proof of concept IoT sharing economy framework, which is specifically designed to support the temporary IoT needs of very large numbers of users, such as Hajj pilgrims concentrating for a short period of time at a single area in Saudi Arabia.