Opening locks via the blockchain.
OkeyDokey is a platform for smart contract embedded IoT devices e.g. smart locks to autonomously rent and sell anything it controls. By creating an ecosystem for secure and autonomous transactions, OkeyDokey will transform how we rent and share things in our community
OkeyDokey puts emphasis on automated IoT device controlled transactions, which simply puts the focuses on humans interacting with IoT devices or devices interacting with each other. By removing the human to human interaction element of transactions it allows for a number of advantages to be had.
Innovative ventures like OkeyDokey are implementing an asset sharing infrastructure that makes full use of the connected device controlled transactions to provide benefits for both the owner of physical assets and renters. It will completely transform the way we view transactions and what we may expect from a transaction in the future.
Advantages of removing human-human interactions
By increasing the autonomy of transactions with regards to asset sharing a number of inefficiencies will be reduced. It might seem like a scary thought to trust machines to handle our transactions for us, but it’s a leap of faith worth taking. Here are some of the more notable benefits:
● Fewer overheads: elimination of human-human interactions means overheads for the asset owner are reduced, which in turn reduces the cost of renting. This means assets will be more widely available for rent. Likewise, financially, it makes more sense to put up a wider range of items that are available all parts of the world for rent.
● Convenience for asset owner: some asset owners may have hundreds and even thousands of assets up for rent, which means meeting every renter in person will be impossible. Furthermore, hiring people to do it on their behalf is an expense that doesn’t need to be incurred when machines can handle the greet and meet process. Smart contract embedded smart locks can grant the renter access once the authentication process is completed via the blockchain.
● Convenience for renters: the speed of access to a rented asset will be improved because there is no need to find the host and then wait for them to unlock the door. The renters can simply walk up to the smart lock and instantly get access. This is also more convenient because there is no need to arrange a meeting time with the host. For example, you may arrive to the city late at night for check-in. Without automated entry late check-in may not be available if the host can not provide it.
● No more double booking: the system is decentralized and uses smart contract embedded smart locks that execute all transactions according to the written/programmed contract. This means that whenever and a booking is placed every node on the network is updated. This includes the host, and other renters that might be interested in renting out the same asset.
The advantages of the transactional economy outlined above are just a few notable ones that will surely increase the rate at which the system is adopted. Once full implementation is achieved other unforeseen benefits are likely to surface that further increase the value of such a setup.
OkeyDokey is leading the charge by opting to go with a revolutionary connected device controlled asset sharing. Once asset owners and renters begin using the system it will transform the way we think about asset sharing in the community.
OkeyDokey Official Website https://okeydokey.network