Asset management block chain

A method for establishing a permissioned blockchain on an Internet of Things (“IoT”) system, the method being performed by a cloud-based central IoT hub, the method comprising:

• identifying, via the cloud-based central IoT hub, IoT nodes associated with the IoT system, each of the identified loT nodes having an IP address and being in communication with the cloud-based central IoT hub via an internet connection, the cloud-based central IoT hub being a central processing unit stored in a cloud;
• running, via the cloud-based central IoT hub, an authentication routine on each of the IoT nodes, the authentication routine including assessing configuration settings and IoT node characteristics of the IoT nodes to assess compliance with a IoT system runbook stored on the cloud-based central IoT hub;
• identifying, via the cloud-based central IoT hub, a subset of the loT nodes that have been authenticated by the authentication routine;
• grouping, via the cloud-based central IoT hub, the loT nodes in the subset into a first group and a second group, wherein the grouping includes:
• comparing available storage space, speed of internet connectivity and security settings of each of the IoT nodes in the subset to threshold values of storage space, speed of internet connectivity and security settings;
• including, in the first group, IoT nodes in the subset that have been determined, during the comparison, to meet or exceed the threshold values of storage space, speed of internet connectivity and security settings;
• and
• including, in the second group, IoT nodes in the subset that are not included in the first group;
• creating, via the cloud-based central IoT hub, a ledger including a plurality of entries, each entry being associated with an IoT node in the subset and including an IP address of the IoT node and configuration information of the IoT node assessed during the authentication routine;
• creating, via the cloud-based central IoT hub, a permissioned blockchain including a distributed ledger by downloading, on each IoT node in the first group, the ledger and a security key;
• and after creation of the permissioned blockchain:
• receiving a request from a new IoT node to be added to the IoT system, the new IoT node supporting internet communication;
• running the authentication routine on the new IoT node;
• if the new IoT node is authenticated by the authentication routine, adding the new IoT node to the first group or the second group in accordance with the grouping;
• creating a block for adding to the blockchain, the block including an entry associated with the new IoT node, the entry including an IP address of the new IoT node and configuration information assessed during the authentication routine;
• transmitting the block to the first group of IoT nodes;
• when the new IoT node is added to the first group, downloading the distributed ledger on the new IoT node;
• and
• when the new IoT node is added to the second group, not downloading the distributed ledger on the new IoT node.