Protocol to trace physical objects in a decentralized way
TraceMy is similar to Find My Network from Apple, but decentralized and with tracking ownership (aka provenance). We want to ensure individuals and businesses can reliably track and verify the ownership of physical objects, providing an effective solution against theft, loss, counterfeits, and unauthorized trading of products.
Conventional smart trackers use Bluetooth rather than GPS due to power consumption constraints. When a lost tracker is within range of another device, that device encrypts the object's location and sends it to a centralized server like Apple's. The object's owner can then decrypt and get the tracker’s location.
TraceMy implements a similar approach but enhances it with blockchain technology:
- DePIN Tokenomics: reward trackers. A vampire attack on web2
- Permissionless: Any company or individual can add a tracker to the network
- Provenance: Transparent ownership mechanism. It could be used for Supply Chain Management.
- Censorship resistance: unstoppable in places where a government tries to ban it.
- Trustless: No organization can create a backdoor to spy on who owns what.
In pure jargon, it’s a permissionless network for geo-tracking and provenance leveraging DePIN tokenomics.
There are many initiatives for the middle/long term. These two are the most ambitious ones:
- Solving proof of location, avoiding spoofing, in collaboration with FOAM.
Included projects are (Credits goes to them for the hard work):
- The original Openhaystack
- Headless Haystack