An Internet of Thing (IoT) device includes a transceiver coupled to a processor. Blockchain smart contracts can be used with the device to facilitate secure operation.
1. An Internet of Things (IOT) device, comprising:
a processor;
a sensor coupled to the processor;
a transceiver; and
a module for processing a smart contract in a blockchain with the blockchain address, the processor storing tamperproof events on the blockchain or a side chain, the processor executing terms of the smart contract and a module for forming a contract between the processor and another machine.
2. The device of claim 1 , comprising a blockchain accessed by the processor to store data for the device.
3. The device of claim 1 , wherein the side chain comprises a second blockchain operated parallel to the block chain where transactions or transaction outputs later merged back into the blockchain.
4. The device of claim 1 , comprising a module for forming a contract with yet another machine.
5. The device of claim 4 , wherein the module receives from another machine a manifestation of intent for a contract and assents to the contract.
6. The device of claim 4 , wherein the module checks an offer for vagueness and clarifies with an offeror.
7. The device of claim 4 , wherein the module accepts from another machine an advertisement with a quantity and recipient, a production contract, an output contract, or a requirement contract.
8. The device of claim 4 , wherein the module revokes or cancels the smart contract upon receiving a revocation from an offeror.
9. The device of claim 4 , wherein the module complies with Uniform Commercial Code.
10. The device of claim 4 , wherein the module sends another machine a seasonal expression of acceptance or a counter-offer.
11. The device of claim 4 , wherein the module separately accepts or rejects a counter-offer if the other machine is not an agent for a merchant.
12. The device of claim 4 , wherein the module assigns the smart contract to another machine.
13. The device of claim 4 , wherein the module performs terms of the smart contract as a unilateral contact with a second machine and then requests payment from the second machine.
14. The device of claim 4 , wherein the module processes an option to extend time.
15. The device of claim 14 , wherein the module processes the option without payment if the other machine is a merchant agent and otherwise receives payment to bind the option.
16. The device of claim 1 , comprising a module to process a real estate transaction or a rental transaction.
17. The device of claim 1 , comprising a module to process a sport event or fitness event.
18. The device of claim 1 , comprising a module to process a health transaction or medical transaction.
19. The device of claim 1 , comprising a module to process data for gaming transfer, gambling transfer, betting transfer, auction transfer, or money transfer.
20. The device of claim 1 , comprising a module to transfer data for Internet of Thing (IOT).