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Empowering the Economy of Things

Overview

Weeve’s vision is to empower the Economy of Things where IoT machines (or “weeves”) index, process, attest and trade harvested data as digital assets. Weeve is building the infrastructure for public or private marketplaces for any form of digital assets ranging from geo-data to electricity or delivery status. We combine two extremely emergent technologies, namely IoT and Blockchain, to create a highly secure data marketplace. Through the Weeve Platform, both consumers and enterprises can register smart devices they own and effortlessly monetize the data produced by them. The platform facilitates the creation, management and orchestration of marketplaces while empowering individuals, enterprises or governmental bodies to set up, curate or join existing marketplaces in a fair and friendly manner. The Weeve Platform provides a base layer for the EoT-commercialization of IoT data and the design of blockchain-based marketplace applications and services.

Project
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Secure and Interoperable Systems

An industry report estimates that the IoT industry could have a total economic impact of $3.9 trillion to $11.1 trillion per year in 2025, with up to 40% of the value locked in interoperability problems. To tackle this issue at the operating system level, weeveOS will be the first lightweight IoT-Blockchain operating system. It runs on commodity IoT hardware, supports the ARM Trustzone extension, and contains several data protocol and blockchain primitives that allow devices to discover and transact in a secure fashion. This results in more possibilities for data exchange and fewer hacks.

IoT Enabled Marketplaces

When networks of devices achieve sufficient trustworthiness and low transaction costs, new types of trade among devices can occur at staggering volumes. Weeve provides the base building blocks for these marketplaces, including membership standards and secure protocols. These IoT-enabled marketplaces enable groundbreaking efficiencies across sectors spanning manufacturing, agriculture, and transportation. IBM economists share the view that small increases in efficiencies across billions of devices will result in astronomical impact.

Weeve Network Protocol

Trust is an important factor in marketplaces, and it is necessary to maintain high standards to ensure safety for all participants. Without safety, no transactions occur. Therefore, the Weeve Network Protocol combines incentive elements of staking, attestations, and verification to bootstrap trust. The network protocol implements tunable incentives that reward good behaviors and punish bad ones.

Product
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Secure IoT Communication Protocol

IoT communications today are plagued with severe security flaws, as companies are very keen on fast production cycles and ignore important considerations to protect their users. This results in eventual device hackings on massive scales, which could have been prevented with the right precautions. Our TEE-MQTTS protocol extends the widespread MQTT protocol with new cryptographic protections. It is more lightweight than MQTT over TLS, and provides support for Trusted Execution Environments (TEE). The result is higher security, scalability, and efficiency.

Secure IoT Wallet

Cryptoasset wallets are typically designed for general-purpose computers and not IoT device firmware. Therefore, use of existing wallets with IoT devices results in clumsy, error-prone, and inefficient implementations. Weeve’s secure IoT wallet integrates directly into device firmware, stores standardized smart contract templates, custodies device-specific credentials, and supports advanced device-specific functionality such as Trusted Execution Environments (TEE). It will be provided for free to improve the baseline quality of devices that handle cryptoassets.

Signed Data and Execution

Most receivers of IoT device data have no guarantees of origin, reliability, or identity. Weeve’s security protocols include the ability to sign entire programs and their output data to add stronger guarantees around data sourcing. This will reduce the incident of data forgery or contamination while increasing data integrity and richness of metadata.

IoT-to-Blockchain Operating System

There are many hurdles for IoT devices in transacting on the blockchain: processing power is limited, storage is small, and physical security is an important concern. Weeve’s lightweight operating system runs on commodity IoT hardware providing additional security guarantees at the firmware level. It also has support for the ARM Trustzone extension, which parallels the Intel SGX architecture and is more geared towards IoT devices.

Token
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Staking Utility

WEEV token aims to ensure all devices meet the desired membership standards and incentivize curators to provide quality data. To achieve this aim, Weeve’s network protocol requires participants to stake WEEV tokens when registering Devices/Marketplaces/Registries. Device registry is a membership standard that a device needs to fulfil, which implicitly serves the purpose of assessing the quality of the data. All devices must be listed on device registries in order to participate in the marketplace. Participants must stake WEEV tokens to apply for listing, which could be challenged by other token holders. If the device is “good” and accepted on the list, the device owner keeps the staked tokens, and may withdraw the stake when leaving the registry. In any case a challenge is lost, the staked tokens are forfeited and divided as a reward amongst token holders who participated the challenge.

Network Governance

WEEV token holders are able to self govern registries and marketplaces if they are outlined in the registry and marketplace guidelines. WEEV token holders could vote for proposals of relevant membership standards and revise them over time. By deploying the WEEV token, we empower the actual users of standards to determine the future state of their own standards. In contrast with the large catch-all international standards bodies of today, Weeve network participants will enjoy shorter feedback cycles for proposals and group deliberations, and standard emergence will occur in smaller fast-moving marketplaces.

Reward or Penalty Mechanism

The Weeve network market mechanism design ensures an equilibrium between key players and important market forces is reached, such that each Weeve player will pursue a utility-maximizing strategy. The idea underlying the Weeve network mechanism follows a trigger strategy: Players supporting the stability of the network get rewarded, while players defecting the network are punished. The reward mechanism clearly incentivises players to join the network, trade their data and contribute their knowledge and services to the stability of the network. Without suitable incentive mechanisms the network will starve, and marketplaces will not foster due to marginal and unimportant supply and demand. On the other hand, the punishment mechanism combats network destabilisation strategies. Destabilizing player strategies of Weeve network participants are disincentivizes and result in negative payoffs. The WEEV token is the unit of value in all transaction to settle value - positive or negative payoffs as per participants actions.

Timeline
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NOTE: The key dates shown are just an estimate, and there is a reasonable chance that some or all of these milestones are delayed.
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Q2, 2017
Patent filed for MQTTS
A secure IoT communication protocol paving the ground for secure transportation of tokenized assets.
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Q2, 2017
Patent filed for Testified Smart Contract
Cryptographic proof (kinda ZK-SNARK) to attest the harvesting and processing of IoT data. Data quality is attested as a valuable, digital asset, when attached to a Blockchain.
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Q3, 2017
Ethereum Camp Hackathon
Teams learn to connect Ethereum to real IoT devices. A chance for Blockchain enthusiasts to transform their ideas into real prototypes and business models. https://www.ethereumcamp.io/
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Q1, 2018
Ethereum Camp Hackathon 2
Teams learn to connect Ethereum to real IoT devices. weeveOS is introduced. A chance for Blockchain enthusiasts to transform their ideas into real prototypes and business models. https://www.ethereumcamp.io/
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Q2, 2018
IoT and Blockchain camp, Valencia, Spain
Connecting real world IoT data with distributed ledger technologies (Blockchain). https://iotcamp.io/ Weeve is is a sponsor of this event and will present weeveOS.
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Q2, 2018
weeveOS alpha release
The first OS to meet scalability and lightweightness requirements for IoT devices and the security and trust prerequisites of Blockchain-based applications and services.
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Q3, 2018
Weeve Network designed with ConsenSys
Enables IoT data tokenization.
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Q4, 2018
weeveOS beta and MVP public release
A fully functional beta release of weeveOS and MVP to the public

Team
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Harald Zapp
Co-founder, CEO
Harald Zapp has more than 25 years of experience in the information technology and telecommunications industry. In 2012 he found Germany’s successful IoT middleware company relayer and in 2016 he found Europe’s leading IoT and blockchain company builder Next Big Thing AG. Previously he held the CEO position at ASC Telecom AG and leading positions at Cisco Germany.
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Prof. Dr. Sebastian Gajek
Co-founder, CTO
Prof. Dr. Sebastian has a strong focus on the topics of cryptographic algorithm design and system security. He is a professor for IT-Security and Cryptography at Flensburg University and co-founder of Weeve, a venture at the forefront of IoT and Blockchain.Prior to this,he held a research position at NEC Laboratories Europe, where he transferred foundational security research to products. He was a postdoctoral fellow at the Tel Aviv University and obtained his PhD from the renowned Horst-Görtz Institute for IT-Security, one of the leading academic institutes for Information Security in Europe.
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Martin Buhl
CFO
Martin Buhl is the CFO at Next Big Thing AG. Martin mentors ventures while providing financial guidance and business development for token economies. As Investment Director at Innogy Innovation Hub, he oversaw seed investments and conducted valuation, portfolio performance, network development, and evaluation of coin offerings. Martin specializes in topics of machine (AI & blockchain) and sharing economies, smart buildings, transportation, big data, IoT and cybersecurity. He served as Board Member and Advisor for energy, technology, and financial industry startups as well as Founder and CEO of GLOW.CAPITAL, connecting international entrepreneurs and VC’s in Fintech and AI.
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Martin Maurer
Blockchain Developer
Martin's 19 years of experiences at the cutting edge of business and technology spans across several continents, making him a key asset to the weeve team. His passions range from blockchain technologies, spatial computing, functional programming to smart contract writing.
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Marvin Kruse
Blockchain Developer
Marvin studied computer science, focusing on the theory and practice of contemporary cryptography and its application to financial technologies. At Weeve, he is working on the design and implementation of cryptographic smart contracts for the Economy of Things.
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Sascha Thomsen
Secure System Engineer
Sascha focuses on novel secure system architectures for the Internet of Things. He develops innovative execution environments for safeguarding trustworthy smart contract creation on IoT devices.
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Mathias Davidsen
Trusted Application Developer
Mathias studied computer science, focusing on computer and communications security. Mathias is a trusted computing enthusiast and is an active contributor to various open-source operating system projects. At Weeve he works on Dynamic code attestation.
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Sidd Bhasin
Venture Developer
Sidd combines his engineering and business expertise to help grow Weeve as a business. His past experience as a startup-cofounder for a tech business(Papertree) coupled with his Blockchain consulting background with a boutique consulting firm in Berlin(Konfid.io) provided the foundations for his venture dev role at Weeve.
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David Weber
Blockchain Program Manager
David is a Project Manager for Weeve, responsible for corporate partnerships and industry use case implementations. He previously worked for the Innogy Innovation Hub supporting portfolio companies on Blockchain and ICO related projects. Besides that he supported as a freelance project lead a group of startups in structuring and setting up a decentralised network. He is passioned about modern information technology.
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Kasey Davies
Marketing Lead
With 3+ years of experience in the Digital Arts and Marketing arena paired with a desire to disseminate new technologies, Kasey creates content experiences. Her aim is to make technology, whether it be data-driven marketplaces or decentralized ledgers, intelligible, inclusive and diverse. Prior to Weeve, she supported various entrepreneurial business initiatives in South Africa.
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Marc Zapp
Designer
Marc is the Creative Group Head at Next Big Thing AG. He has past experience in brand management, design & innovation processes to transform ambitious brands & businesses.
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Jonathan Vieu-Robson
Blockchain Researcher
Jonathan has built-upon his education in Economics, assisting in the development of startups in markets from travel to artificial intelligence. While at NBT, he has supported weeve in the drafting and editing of core company documents such as the business whitepaper and the token paper.
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Cornelius Schneider
Head of Blockchain Implementation
Cornelius is an Engineer with an extensive experience in the field of Blockchain and IoT. He co-founded a smart home/IoT venture YOUMO and worked as a Venture Developer and Project Manager for innogy´s Innovation Hub. His passion is making the right matches between corporates/industry/startup partners and weeve on the technological level. He is in charge of partnerships and collaborations in order to foster weeve´s standing in the community.
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Martin Klauck
Sr. Cloud Developer
Martin is an experienced Senior Software IoT Cloud Developer / Architect with a demonstrated history of building new solutions in the automotive, financial, oil&gas and IIoT industries. While at NBT, he is advising and supporting Weeve in building the scalable and stable platform.
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Advisors
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Prof. Dr. Philip Sandner
Frankfurt School Blockchain Center, Head
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Dr. Svetla Petkova-Nikova
COSIC Research Group, Research Expert
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Fabian Vogelsteller
Mist and web3.js Developer and Ethereum
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Dr. Martin Sonnenschein
A.T. Kearney, Partner
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Prof. Dr. Benny Pinkas
Professor, Bar-Ilan University

Partners
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