Usage metric-based warranty for internet-of-things devices

A computer program product comprising:

• a computer readable storage medium readable by one or more processors and storing instructions for execution by the one or more processors for performing a method comprising:
• obtaining a usage report of an Internet of Things (IoT) device in a predefined format;
• recording the usage report of the IoT device in a blockchain network;
• updating a warranty balance for the IoT device by reducing an amount of the warranty balance corresponding to the usage report of the IoT device from a current value of the warranty balance, wherein the warranty balance for the IoT device is stored in the blockchain network;
• and
• resolving a warranty claim on the IoT device based on respective blockchain records of the usage report and the warranty balance regarding the IoT device.

A system comprising:

• a memory;
• one or more processors in communication with memory;
• and
• program instructions executable by the one or more processors via the memory to perform a method comprising:
• obtaining a usage report of an Internet of Things (IoT) device in a predefined format, wherein the predefined format of the usage report of the IoT device includes a time stamp and one or more data values on preselected attributes of run cycles that affect functionalities of the IoT device for the purpose of warranty and environmental conditions that affect the warranty of the IoT device;
• recording the usage report of the IoT device in a blockchain network;
• updating a warranty balance for the IoT device by reducing an amount of the warranty balance corresponding to the usage report of the IoT device from a current value of the warranty balance, wherein the warranty balance for the IoT device is stored in the blockchain network;
• and
• resolving a warranty claim on the IoT device based on respective blockchain records of the usage report and the warranty balance regarding the IoT device.