Viennese startup Riddle&Code wants to connect industrial companies to Web3

The Austrian startup Riddle&Code has launched two programs to get manufacturers on board with Web3. The two initiatives are called HW-03 Enterprise and HW-03 Community and aim to focus on introducing hardware wallets for (industrial) machines and making “knowledge and new business opportunities for a sustainable future” accessible.

Through these programs, Riddle&Code plans to help industrial companies navigate the Web3, as well as tokenize industrial machines and create new crowdfunding opportunities.

Cryptographic Identity for Machines

Automotive hard wallets are not new territory for Riddle&Code. The startup has been cooperating with the German car giant Daimler since 2019 and is developing a “Car Hardware Wallet” for its vehicles. Ultimately, the partnership should provide solutions for autonomous vehicles and car-sharing platforms. For example, these hardware wallets could be used to transmit real-time traffic patterns, connect vehicles to smart city infrastructure, and automatically and quickly transmit accident information to responsible authorities and insurers.

Tamper-proof hardware creates a cryptographic identity for vehicles. It is also integrated with the Telematics Control Unit (TCU), a control unit in vehicles that establishes the connection between vehicle electronics and the Internet, in order to receive, sign and authenticate data from the car’s sensors and of the surrounding infrastructure. This information can be used to record a vehicle’s performance and ensure that it has been properly maintained.

It is not known whether this cooperation with Daimler still exists and what the results of this cooperation currently look like. But Riddle&Code will likely continue to work on similar solutions for the industrial sector under the HW-03 programs.

RDDL network for machines

Since its creation in 2016, Riddle&Code has been developing blockchain solutions for industry, mainly in the areas of power generation and electric vehicle construction, and has made a name for itself through partnerships with large companies such as as Wien Energie, Daimler Mobility, Evonik, Litebit Innovation Laboratories and Telekom.

The HW-03 initiatives are now an opportunity for Ridlde&Code to position itself in the field of industry and also to contribute to the RDDL Network. The RDDL network, which is still in its infancy, is a developer network and is similar to Ethereum in its own right. Ultimately, Riddle&Code is just a participant in the network – the startup’s relationship to the network is analogous to Consensys’ relationship to the Ethereum network.

It is a blockchain protocol based on industrial machines and using the so-called Proof of Productivity (PoP) consensus mechanism, which makes machines tamper-proof and enables trust and traceability of the machine data generated. With a crypto hardware wallet, the machine becomes a decentralized identifier in the network – in other words, an industrial NFT machine. This makes the machine itself part of the RDDL network.

This solution could develop new business models in the area of ​​pay-as-you-go, where companies no longer buy machines but only pay for their use. In the coming years, Riddle&Code expects over 50 million machines to operate as nodes in the RDDL network.

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