Lomiko Increases Ownership in SHD Smart Home to 25% as SHD Investigates Using Blockchain for IoT Software Security Applications

Lomiko Increases Ownership in SHD Smart Home to 25% as SHD Investigates Using Blockchain for IoT Software Security Applications

Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) and its 100% owned subsidiary Lomiko Technologies are pleased to announce that it has exercised 111,111 warrants granted to Lomiko at .72 per share to increase its ownership of SHD Smart Home Devices to 25.13%.  Recently, SHD has entered into discussions with US based Automated Building Devices (ABD) for the sale and distribution of spider charger units to homebuilders across western USA. The initial discussions are centered around the Spider Charger® and have broadened to include (Internet of Things) IoT security and blockchain applications.

IoT Security and Blockchain

Blockchain or Distributed Ledger Technology may have a similar impact upon homes and offices as the internet. Blockchain’s big advantage is that it’s public and secure. Everyone participating can see the blocks and the transactions stored in them but the content is protected by a private key. A blockchain is decentralized, so no single authority can approve transactions or set specific rules to have transactions accepted. All the participants in the network must reach a consensus to accept transactions. Another security feature of Blockchain is that the database can only be extended.  Previous records cannot be changed easily.

The possibility of interaction between blockchain and IoT would increase the security of remote access provided by IoT applications alone. The convergence of blockchain and IoT is on the agenda for many companies and there are existing implementations, solutions and initiatives in several areas, outside of IoT and financial services.

As IoT adds more and more devices to the digital fold every day, organizations of all sizes are recognizing IoT’s potential to improve business processes and, ultimately, accelerate growth. Meanwhile, the number and variety of IoT solutions has expanded exponentially, creating real security challenges. Primarily, there is a need for secure common tasks such as sensing, processing, storing information, and communicating.

IBM Blockchain is currently exploring the interaction of Artificial Intelligence (AI), IoT and blockchain that will lead to possible IoT applications. To illustrate the benefits of blockchain and Internet of Things convergence, IBM gives the example of complex trade lanes and logistics whereby smart contracts can follow (and via blockchain technology register), everything that has happened to individual items and packages. The benefits: audit trails, accountability, new forms of contracts and speed, to name a few.

The Market

There are currently 130 million established households in North America and a healthy seasonally adjusted annualized rate of 1.3 million housing starts. In addition, offices, hotels and coffee shops are also potential markets for USB charging devices. If only one or two USB charging devices are installed in new homes and retro-fitted into current homes undergoing renovations, there will be a healthy demand for these IoT products. Smart Home Ltd. plans to enter into negotiations to sell the Spider Charger and other related devices in North American markets with IoT distributors and builders. Lomiko will share its network of industry connections to help grow the venture and then enjoy the SHD equity multiplier without being burdened with any engineering, new product development, IP or associated marketing costs as the Spider charger and SHD suite of IoT products are rolled out.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.

On Behalf of the Board

“A. Paul Gill”

Chief Executive Officer

We seek safe harbor.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: Uptick Newswire

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