Blockchain technology, a form of Distributed Ledger Technology, has been gaining enormous attention in areas beyond its cryptocurrency roots since more or less 2014: blockchain and the Internet of Things (IoT), blockchain and cybersecurity, blockchain and finance, blockchain and logistics, you name it. In this article we look at the IoT blockchain opportunities, evolutions and challenges.
As we wrote before it seems as if blockchain technology or, better, Distributed Ledger Technology, is about to change all aspects of digital business and according to some such as Don Tapscott, blockchain is a bigger deal than the Internet. Combine blockchain and IoT and you have two bigger deals than the Internet who need eachother for numerous reasons we explain in this IoT blockchain overview.
Blockchain (there are many blockchains in fact and it’s more than the technology powering Bitcoin), has been mentioned by virtually all research firms as a rapidly accelerating evolution and it’s not just about financial services companies, the scope in which we tackled blockchain outside of its cryptocurrency roots the first time (namely FinTech or financial technology). In fact, the convergence of blockchain and the Internet of Things is on the agenda for many companies and there are existing implementations, solutions and initiatives in several areas, outside of IoT and financial services too.
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