Anonymous Pico-Payments for Internet of Things

Abstract

In this Chapter a new way of payments for Internet of Things services is proposed, based on a stream of anonymous pico-payments realized by means of pico-coins. System architecture and information flow are presented, showing fully automated way of contextual payments which protect customers' privacy. With the proposed stream of pico-payments, two basic problems of efficient and widely acceptable payment method for the Internet of Things are solved: privacy protection, and toleration of frequent unexpected disconnections.