Blockchain & the Internet of Things (IoT): A marriage made in (data) heaven?
by Terry Brock for DSound & Steemit
A version of this article originally appeared in Business Journals
Security has become a bigger issue than ever lately. We see hacks like what happened to Equifax and other organizations and we realize how vulnerable we are.
At the same time, in a different technology area, many see a lot of opportunities in the field of Internet of things. There are many ways that using sensors to track objects can make life a lot easier for human beings. Benefits range from medical devices to self-driving cars, to automated manufacturing facilities.
However there's a big concern about security with sensors tracking your every move and having so much information about you. Think about the ability to have the benefits of heart monitors and biometric devices to alert professional medical people about changes in a patient's status. That's very good if the right medical personnel get the information, but not if other bad players get hold of that information.
Here’s where blockchain comes into play. In the past we have focused on data in a particular server or database that needs to be secure. This remains true today no matter what. However what about data that is on a sensor? What if competitors can get access to sensitive data about machinery and confidential processes information? That could create havoc in business.
Many are now seeing blockchain as a viable means to secure the Internet of Things (IoT). This could be a marriage made in data heaven.
Manufacturers, for instance, can make devices secure by validating identity with blockchain. Blockchain can make sure that when devices are connected to each other they are registered and recognized and then remain secure.
The beauty of blockchain is that it is decentralized. Rather than storing all the data on one device which is vulnerable to a single attack, information is dispersed among several nodes. Blockchain, also has the advantage that transactions are immutable, they cannot be changed in the future. This way devices can be registered as reliable. When a device attempts an attack the system will detect the attack and prevent entry or shut down (all part of the specific code that would be written).
By writing the appropriate code into a contract on blockchain, no outside party can change that and the code stands as the test. This is why some have called this “code as law” which is in contrast to “code of law.” This way you’re trusting mathematics, not someone’s interpretation of the contract. It also is a lot cheaper to let machines monitor the status than have human beings watch over it.
The field is growing fast and we see yet another application for blockchain when it combines to work with IoT. Recently I had the opportunity to talk with Vaughn Emery, the CEO of Atonomi, a company devoted to working with “the secure ledger of things.” You can see the interview and learn more about how blockchain and IoT are being combined for some very productive and secure solutions.
youtu.be/7d_Ie8sUcfU
What do you think? Please leave your comments. Please resteem this and upvote if you will. I greatly appreciate it and look forward to hearing from you.
Terry
Terry Brock, MBA, CSP, CPAE
Member, Professional Speaker Hall of Fame
Certified Speaking Professional
TerryBrock.com
BrockonBlockchain.com
Terry@TerryBrock.com
+1-407-363-0505 (Orlando, Florida, USA)
Outrageously cool videos on my YouTube Channel (!)
youtube.com/user/TerryLBrock/videos
Linkedin - MarketerTerryBrock
Facebook - MarketerTerryBrock
Twitter - @TerryBrock
Steemit -
► Listen on DSound
► Listen from source (IPFS)