Semantic Smart Contracts for Blockchain-based Services in the Internet of Things

Abstract

The emerging Blockchain (BC) and Distributed Ledger technologies have come to impact a variety of domains, from capital market sectors to digital asset management in the Internet of Things (IoT). As a result, more and more BC-based decentralized applications for numerous cross-domain services have been developed. These applications implement specialized decentralized computer programs called Smart Contracts (SCs) which are deployed into BC frameworks. Although these SCs are open ato public, it is challenging to discover and utilize such SCs for a wide range of usages from both systems and end-users because such SCs are already compiled in form of byte-codes without any associated meta-data. This motivates us to propose a solution called Semantic SC (SSC) which integrates RESTful semantic web technologies in SCs, deployed on the Ethereum Blockchain platform, for indexing, browsing and annotating such SCs. The solution also exposes the relevant distributed ledgers as Linked Data for enhancing the discovery capability. To achieve this goal, the OWL-S service ontology is extended by incorporating some domain specific terminologies, which are used in the development of the proposed SSCs. As a result, SSC can be utilized to enrich queries for a domain-specific terms across multiple distributed ledgers, which greatly increases the discovery capability of decentralized IoT applications and services. Contribution in standardization is also discussed. We believe that our research work takes the first steps towards connecting BC-based decentralized services with semantic web services in order to provide better IoT ecosystems.