What blockchain means for the Internet of Things

What blockchain means for the Internet of Things

What blockchain means for the Internet of Things

Why is everyone so interested in blockchain, and what does that interest mean for the Internet of Things? Blockchain is beginning to play a major part in the Internet of Things by enhancing security, enabling inclusion of low-value devices to be increasingly viable and making managing a device easier for decades to come.

Blockchain is a peer to peer distributed ledger technology for a new generation of transactional applications. It is a permission-less distributed database which maintains a continuously growing list of cryptographically secured data records hardened against tampering and revision. It can help establish trust, accountability and transparency while streamlining business processes.

With blockchain, we can reimagine the world’s most fundamental business interactions and open the door to invent new styles of digital interactions. This technology has the potential to vastly reduce the cost and complexity of operating businesses. The distributed ledger makes it easier to create cost-efficient business networks where virtually anything of value can be tracked and traded, without requiring a central point of control. The application of this emerging technology is showing great promise in the enterprise.

Read Also:
5 ways Digital Transformation will impact your culture

IBM sees blockchain as the next generation of transaction systems. IBM Watson IoT blockchain offerings enables IoT devices to participate in transactions. Leveraging the Watson IoT Platform, we’re making it possible for information from devices such as RFID-based locations, barcode-scan events, or device-reported data to be used with IBM Blockchain. Devices will be able to communicate to blockchain-based ledgers to update or validate smart contracts. For example, as an IoT-connected package moves along multiple distribution points, the package location and temperature information could be updated on a blockchain.

 



Sentiment Analysis Symposium

27
Jun
2017
Sentiment Analysis Symposium

15% off with code 7WDATA

Read Also:
How Marketers use Machine Learning in Retail

Data Analytics and Behavioural Science Applied to Retail and Consumer Markets

28
Jun
2017
Data Analytics and Behavioural Science Applied to Retail and Consumer Markets

15% off with code 7WDATA

Read Also:
Why CRM is AI's Big Opportunity

AI, Machine Learning and Sentiment Analysis Applied to Finance

28
Jun
2017
AI, Machine Learning and Sentiment Analysis Applied to Finance

15% off with code 7WDATA

Read Also:
Applications of Predictive Analytics in various industries
Read Also:
5 ways Digital Transformation will impact your culture

Real Business Intelligence

11
Jul
2017
Real Business Intelligence

25% off with code RBIYM01

Read Also:
Big Data, Open Data and the Need for Data Transparency (Industry Perspective)

Advanced Analytics Forum

20
Sep
2017
Advanced Analytics Forum

15% off with code Discount15

Read Also:
Big Data and the Storage Challenges in Media Companies

Leave a Reply

Your email address will not be published. Required fields are marked *