Life on Earth’s SmartAxiom Inc. Receives Blockchain IoT Security Patent
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Irvine, Calif .– (Newsfile Corp. – May 21, 2021) – SmartAxiom Inc., a subsidiary of Life on Earth Inc (OTC Pink: LFER), today announced that it has received U.S. Patent Number 10,924,466 for its Intellectual Property (IP) system and method for IoT security.
The patent covers SmartAxiom’s innovative blockchain for managing and securing Internet of Things (IoT) systems.
Blockchains are ideal tools for building and delivering the trust factor between IoT devices, but have traditionally been plagued with sub-optimal speed and excessive demand for power to run efficiently on IoT devices. SmartAxiom’s revolutionary multichannel technology provides an industry-first solution for devices to interact while meeting the demands of a “Zero Trust” solution. Security is the critical factor in building a robust IoT structure and our patented solution can now deliver this security on an unprecedented scale. The patent also covers significantly improved latency, reliability, scalability and manageability compared to alternatives.
Amit Biyani, President of SmartAxiom and one of the inventors of the patent, said, “We are very pleased that the US Patent Office has recognized our innovation by approving this patent. It covers the core Distributed Ledger (DLT) technology that makes our IoT management and secure communication solution so attractive to large enterprises. This app covers supply chains, distribution logistics, industrial IoT and smart buildings to name a few. cloud. Additionally, it can track full asset lifecycles, digital content, or even the identity of people with non-fungible tokens (NFTs). “
Mahmood Khan, CEO of Life on Earth, said: “This is very important intellectual property and it will have a big impact on IoT as well as cloud solutions. In my next shareholder update , next week, I’ll include more specific details on how our solutions will help our customers deal with the cyber threats they face. ”
Here is the full patent abstract: The present disclosure is directed to a method and system for enabling IOT security using a decentralized IOT security platform that leverages the advanced and security wire model. blockchain to protect IOT ecosystems. The platform uses a multi-chain data schema comprising a device chain and an event chain. The multi-chain data schema uses a time envelope mechanism to generate an event to connect different device chains and enforce a set of security rules through smart contracts. The method includes receiving an encrypted block from an IOT device with event data and verifying the signature and identity of the device based on certain rules within the device chain. Further, the method includes determining access to the chain of events using the previous token, current token, and the timestamp of the encrypted block and updating the chain of events when determining whether ‘access. The chain of events protects data integrity and confidentiality against malicious packets, unauthorized devices, weak encryption, and middleman attacks.
About SmartAxiom Inc.
SmartAxiom’s software manages and secures the Internet of Things (IoT) using lightweight, patented blockchain technology, operating among these devices at the edge of the Internet and enabling them to defend themselves. Our peer-to-peer distributed registries improve security, latency, reliability and manageability. We uniquely create the first true endpoint blockchain solution to the cloud, while our IoT smart contracts manage NFTs and push intelligence to the edge. SmartAxiom technology is proving useful in many verticals such as smart buildings, manufacturing lines and shipment tracking. It interacts with enterprise systems such as IBM Blockchain and Microsoft Azure and has been proven successful on many ARM and Intel microcontrollers such as those from Intel, NXP, Renesas, Marvell and Broadcom. https://www.smartaxiom.com
About Life on Earth Inc.
Life on Earth, Inc. (“LFER”) is a cloud-based business software developer and provider that enables rapid innovation that keeps business operations secure, compliant and manageable. The products were designed to help organizations innovate and modernize existing systems while minimizing the costs and risks of business disruption and ensuring regulatory compliance. For more information, please visit our corporate website – www.lifeonearthinc.com Investors and corporate inquiries, please contact: [email protected] | (646) 844- 9897
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