Internet of Things (IoT) and blockchain are creating a lot of hype in technology and the business world. They are bringing revolutionizing changes in almost every aspect of our lives. Yet there are many more to come. However, combined together they will result in something greater than expectation. Defining the terms…Internet of Things or IoT is the constant proliferation of always-online, data-storing and sharing devices into our personal and professional lives. Blockchain is designed in a suitable way which is an encrypted and disseminated computer filing system. It allows the formation of real-time and tamper-proof records.Why Combine Blockchain and IoT?There are several advantages of combining blockchain and IoT:First, with data transactions taking place between multiple networks owned and administered by multiple organizations; an immutable, static record means ownership that can be tracked as physical goods or data.As Blockchain records are transparent by their very nature, anyone who is authorized to connect to the network can track and analyze any activity pertaining to it.Second, the use of encryption and disseminated storage makes the data accessible by all parties involved in the supply chain. Each and every detail of transactions will be recorded and monitored by the automated machines.The private keys which ...
Read More on Datafloq
No comments:
Post a Comment