Project CHIP Is intended to create a home automation standard for WiFi and other IP protocols similar to that of zigbee and Z wave so that any Project CHIP-certified device would advertise what it is and accept a set of basic commands. So it would say “I am an on/off light switch.” “ I am a multi level dimmer switch.“ “I am a thermostat.“
That’s really all there is to it. It’s just intended to make it easier for hubs and apps to work with IP protocol devices from different brands without having to have essentially a new set of commands for each one.
In that sense it’s similar to the new smartthings API which allows device manufacturers to add their devices to the smartthings app.
But it doesn’t do any more than that. It very specifically does not create a UI for project CHIP Or its own cloud platform. It does not compete with existing home automation systems, whether it’s apple’s HomeKit or Samsung smartthings. It just standardizes one level of communications with Wi-Fi and some other IP protocol home automation devices. (Plus adding a bunch of security features.)
So it’s definitely interesting, and probably helpful to end customers, but doesn’t really change the landscape of market offerings.
See the following thread for more discussion: