Blockchain In IOT

Blockchain In IOT: Introduction

Blockchain - The modern ledger technology that creates a huge impact on many industries, business platforms, applications, more and more. Which we know already.  As this technology empowers the industries like banking, SCM, telecom it doesn’t fail to disrupt the technology platforms that act as key elements for the world’s digital transformation. Those platforms are, 
  • Big Data
  • AI
  • IoT
We have already gone through the use  cases of blockchain in big data in the previous article. Now it’s time for us to discuss the use cases of blockchain in IoT. So let’s discuss how blockchain can be used in IoT by exploring the use cases of blockchain in IoT. 

IoT - The  Internet of Things Explained

Before we have gone through the highly technical concept of implementing blockchain in IoT, It is a must for us to understand, what is IoT, and why it needs the support of blockchain. 
IoT, as defined, 
“it is a network of connected devices to share data or information by communicating
with each other through the collection and distribution of data via the internet. “
IoT devices are connected with our day to day routine life, without we notifying and identify it as IoT Device. Like Smartwatches, finger ID, Smartphones, Security Cameras, Debit card readers, and more.
Many countries, organizations, and industries are initiating a lot of projects by focusing the automation interpreted with artificial intelligence. To feed those ideas, and to grow up those ideas for mass implementation. IoT is found to be the most promising technology. 
Some of those real-world applications, which are expected to be promised by IoT implementation, are
  • Smart cities
  • Wearables like iWatch, 
  • Smart cars or self-driving cars
  • IoT in agriculture
  • Smart Retail
  • IoT In Healthcare
  • IoT in Farming 
And more…
So likewise there are “N” number of IoT implementations are in the queue. Here is the proof of statement by popular sites. 
  • An article from Gartner.com, explores that there will be around 20.4 billion Installed IOT devices by 2020.  IDC Reports that there will be 30 billion connected devices by 2030.
  • By the report of IDC, 2019 will witness $357 billions of revenue from IoT and by 2020 the revenue will increase to $450 billion. 
Reference : Blockchain In IOT

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