Atonomi ICO Review – Security Protocol for The Internet of Things - Crush Crypto

Atonomi ICO Review – Security Protocol for The Internet of Things

Summary

Video summary (video is 6:07 long):

Project Overview

What does the company/project do?

Atonomi provides a security protocol and infrastructure to enable IoT (internet of things) devices to have trusted interoperability for both data and commerce.

The project proposes an Identity Service which will apply to all products within a network. This will start at the manufacturer level, where Atonomi will provide a screening based on cybersecurity best practices, and provide a score, so people can verify the integrity of their network.

Select manufacturers will be designated as the server operators to verify the integrity of whitelisted parts/products. When something is verified, then the end user/consumer can activate the device to include it in their network.

The team will also develop a Protocol for reputation over time. Auditors will ensure that devices are operating within their predefined parameters, and, if not, their score will decrease.

If a device has a low reputation, its communication with other devices on the network will be restricted to ensure the robustness of security over time. Audit partners will be paid through fees on the network via Atonomi tokens to ensure incentive for quality work.

The image below shows how the Atonomi Network provides an end-to-end security protocol for the IoT value chain:

All information relating to transactions, reputation, and identity, will have the ability to be stored on a public blockchain (i.e. device reputation/identity), or stored on a private blockchain for specific companies (i.e. private data, or sensitive information). This, Atonomi hopes, will allow for a lot of other applications and devices to use the technology.

How advanced is the project?

CENTRI, the parent company of Atonomi, has been developing patented secure technology which will be employed in the Atonomi system. They have received $22 million in venture capital, and has partnerships with Flex, Arm, Intel, PwC, and others.

Furthermore, they are launching a functioning protocol on May 15, 2018, while stating that they have a functioning Alpha at present. The team will be performing demo presentation at Consensus 2018 during May 14 to 16, 2018.

An updated, relevant roadmap will be released closer to the token sale.

What are the tokens used for and how can token value appreciate?

The tokens are going to be used in a number of ways along the track of device activation, registration, and ongoing transactions.

  • Register devices with unique identities. 
  • Activate the devices on a given network.
  • Earned by manufacturers that upkeep the reputation system of devices.
  • Validate the identity/reputation of peer devices for all Atonomi-enabled use cases.
  • As a medium of exchange for commerce transactions between devices.

The tokens should appreciate in value depending on a number of outcomes. For example, if IoT becomes much more prevalent in the world, the security issues within will need to be addressed. If Atonomi can address those concerns, then their protocol, and, thus, tokens should have an increased value from greater demand of use.

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Team

Vaughan Emery, Founder and CEO - Over 25 years’ experience in business development, while currently also serving as Centri’s Founder and CEO.

David Fragale, Co-founder and VP of Product - Over 17 years’ experience in risk assessment and business development, with his most recent being as current CEO and founder of Raven Rock Ventures.

Michael Mackey, CTO and VP of Engineering - Over 20 years’ experience in development and engineering, with the most recent being current CTO and VP of Engineering at Centri.

Luis Paris, Chief Scientist - Over 25 years’ experience in programming, and research, with his most recent experience being as current Chief Scientist at Centri.

Andrii Zamovsky, Technical Development Partner - Over 15 years’ experience in software engineering, and product management with the most recent being the current founder of both Ambisafe, and Orderbook Pte.

The team also have the backing of several advisors including, Dr. John Clippinger, researcher at MIT, Dr. Ulf Lindqvist, Senior Technical Director at SRI International, David Jevans, CEO of CipherTrace, and Rob May, CEO and Co-Founder of Talla.


Opportunities

  • The IoT industry is massive and projected to grow at a rapid rate. Security is one of the biggest concerns regarding the industry. Should Atonomi becomes successful in solving the problem, the upside is substantial.
  • Atonomi’s parent company CENTRI can provide tremendous support to the project, from contributing to the development using its patented technology to securing commercial partnerships.
  • CENTRI’s technology is currently being used by tech giants including Arm, Flex, and Intel, which can become potential early adopter of the Atonomi project.
  • CENTRI holds 8 US patents in the area of IoT.

Concerns

  • The Internet of Things trend is still in its early stage. The success of Atonomi depends heavily on the success of the IoT trend itself.
  • Majority of team members also work at CENTRI. It is unclear how they allocate their time between the two ventures.
  • The detailed roadmap is not published yet.

Conclusion

Overall, we like both the flipping and long-term potential of the ICO. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping

Good. The project’s idea, team, and market awareness are all above average. Not many projects have the level of support that CENTRI can provide.

For long-term holding

Good. Atonomi is backed by seasoned executives in the IoT industry. CENTRI’s technology is adopted by some of the biggest chip makers in the world. In addition, IoT is widely regarded as one of the mega trends in the coming years.

The project has a lot of the right ingredients to become successful. It is the most impressive IoT blockchain project that we see and we believe it has a good chance to succeed.


For more information about the ICO, please visit the following links:

* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.

This article is contributed by Victor Lai with the help of our intern John Coburn.

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