We are accustomed to the idea of a smart lock that can be controlled digitally using devices such as a smartphone. But, consumer-grade smart locks are still subjected to potential threats and cybersecurity issues. Using a Blockchain-enabled smart contract can mitigate such threats by inducing a state of variable embedded into a smart contract.
Blockchain-enabled smart locks open up a whole new world of possibilities, as they can be easily linked to any payment method be it a token or oracle. Using a smart contract adds versatility and security over the initial concept of the smart lock. Not to mentions, there can be a plethora of real-world applications for Blockchain-enabled smart locks for residential as well as commercial property.