Simply, the inspiration was to combat climate change. We saw many research papers indicating how improvements across all sectors via IOT could positively impact climate change. On the same note, we also saw how Blockchain could mesh with IOT to become a very powerful technology for both regulatory entities and industries. Thus, E-chain was born, wielding the potential of top-notch technologies, to save a drastic problem.
What it does
E-chain is a service that provides a system for entities to monitor their emissions while progressing towards emissions reduction legislations using blockchain and real time data.
We are meshing the hardware (sensors) with distributed ledger technology (blockchain + smart contracts) in order to eliminate misinformation regarding emissions reporting/statements and to enforce carbon tax laws. The carbon tax is our prototype's way of representing emissions enforcement, but regulations are up to legislative bodies and the software can easily adapt. The advantage here lies in the fact that the data speaks for itself instead of relying on a company’s statement about their initiatives. By nature of blockchain technology, data recorded would be fully transparent and secure, which would allow for even the public to view. (Of course this aspect could be changed easily, but we value the aspects of a public blockchain more than those of a private blockchain). On the opposite side of the spectrum, E-Chain provides industries with the data to make different processes more efficient and thus help reduce their operating costs. Most times this also leads to emissions reduction. E-Chain is applicable and adaptable to many environments and use cases, this means it can be used by the public sector for example to monitor and improve their transportation emissions. With supply chain emissions being on average over five times as high as a corporation's direct emissions, this makes the trillions in procurement spent by large corporate buyers a critical leverage tool for driving climate action at scale. Gartner analysis shows that the next two years will see 30% of blockchain initiatives refocus on data capture through IOT sensors. This clearly showcases the potential for E-chain in private supply chain use as IOT/Blockchain combinations are expected to rise and they can improve supply chains, which in turn reduce emissions.
How we built it
This was built using solidity (the programming language of Ethereum), a raspberry pi, a dht11 sensor, and Figma. Feel free to check out the compilation of our research at these links: Our Presentation: link Our brainstorm document (be careful it's messy): link Articles we found useful (careful it's also messy): link
Challenges we ran into
The challenges came in recognizing the feasibility and use-cases of IOT and Blockchain combined. The technologies are still in their infancies but experiencing rapid growth. The most critical aspect to consider was where would entities readily accept data collection, and secondly where does using Blockchain make the most sense.
Accomplishments that we're proud of
The accomplishments we are most proud of were taking a deep dive into blockchain and smart contracts, developing a dynamic smart contract, learning how to set up a chainlink node, general research into IOT, Blockchain, emissions, and how they weave together, taking initiative to speak with mentors, and the overall pitch presentation/Figma demonstration.
What we learned
Essentially what we learnt is what were most proud of, which we just stated above.
What's next for E-Chain
Thank you for holding this hackathon, we are deeply grateful for the opportunity to participate. What's next depends on the feedback we receive from judges and others. We hope to continue development, most immediately of which is finalizing development an external adapter for our Chainlink node in order to readily bring IOT data to the blockchain.