New technology blockchain + Internet of Things or will be a new species

The blockchain has finally become the new darling of the tech world, and many individuals, businesses, governments, and even secret organizations are using the technology for a variety of attempts.

Since the beginning of 2018, many technology boom trend reports and articles have suggested that blockchain and Internet of Things may be the next key to development. Moreover, by 2019, nearly 20% of all IoT deployments may have basic blockchain services. why?

So far, the most pressing challenges facing the Internet of Things are security (ensuring data privacy, data storage security) and integrity (data continuity and compatibility of various data interactions). It is clear that the Internet of Things will gradually expand into all aspects of our lives and lead to a dramatic increase in connectivity. However, servers used for data transfer between network devices are more likely to be weak points in terms of productivity and reliability. Unlike databases that are typically stored on a central server, blockchain technology is fragmented and distributed among a large number of network users, so there is no way to interfere with its operation.

Blockchain technology can stabilize the performance of complex IoT systems by ensuring the security and authenticity of their information by quickly and securely storing the results of switching protocols and various devices in a decentralized system. The distributed architecture of the blockchain improves security performance, and even if some network devices are hacked, it will not affect the overall system performance.

In order to achieve widespread adoption, IoT systems require a secure P2P network that reliably transmits information between all devices and participants. Blockchain can help develop the Internet of Things by tracking the history of each particular device, saving all data that the device interacts with people, networks, the outside world, and other devices in a single blockchain. Perhaps the financial industry is a leader in implementing blockchain and the Internet of Things, leveraging this tandem feature to protect payment integrity and credit card data. Several companies have taken the lead in integrating blockchains into production and supply chains.

For example, IBM is leveraging its vast cloud infrastructure to provide blockchain services to track high-value items in the supply chain. Similarly, blockchain can be introduced into other areas of the Internet of Things: areas such as smart energy, enhanced social network trust, cyber fraud, cyber attacks, logistics, availability verification of various services, and authentication management.

The combination of blockchain and Internet of Things has also formed a new concept - "programmable economy." Gartner believes that "the success of the Internet of Things can only be achieved by establishing a new economic platform and currency operation model. Therefore, the "things" of monetization will redefine the economy. Based on "smart" technology and distributed computing resources The combined programmable economy can promote a major shift in the global economic system through new value exchanges and new markets.

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