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With the advent of the Internet of Things, some estimated 8.4 billion devices have been connected to the internet. This is to enable remote control of activities in the daily life of people, like lighting and heating of rooms. So far, other fields have steadily been making use of Internet of Things with Healthcare being one of the main sectors with great potential. Doctors can remotely monitor their patients’ pulse rates as well as be notified of emergency situations as seizures and heart attack.

Blockchain and Internet of things

This technology has extended to all aspects of our daily lives, with an estimated 30 billion devices to be connected by 2020. The net effect of this interconnectedness is efficiency, reduced human exertions and economic benefits.

Blockchain is quickly finding its spot in the IoT territory, which hitherto remains replete with security gaffes threatening its very existence and popularity. Reputed to be one of the most secure inventions of our time, Blockchain’s decentralized security system has enabled it to grow in leaps and bounds.

In 2017 alone, Bitcoin transactions averaged $2bn per day in the United States alone. This incorruptible online ledger accords users security and convenience. With the lack of a central coordination, Blockchain has proven to be a hard nut to crack for hackers.

Safety Concerns of IoT

The interconnection of Blockchain and Internet of things, however, is one which will take many concessions to achieve. With the two technologies being complete opposites in terms of security set-up, developers have to strike a working interdependency to ensure convenience and safety as well.

IoT faces network attacks which corrupt the wireless connections to steal and manipulate user data. This is largely due to its centralized security system which is a hacker’s paradise! The absence or weak (if any) identity verifications so common with the Internet of Things devices has to somehow marry with the Blockchain-type security if serious threats like the Mirai botnets are to be averted.

Also, the rampant password cracks involved in the IoT market threaten to destabilize the very industry reputed for revolutionary innovations like the driverless car. There is no doubt the Internet of Things is essential for the comfort and efficiency of human activities, advancing into the future.

A delicate balance of Blockchain and Internet of Things

However, this industry faces a major test of having a reliable decentralized security system with the lack of traditional monitoring of the failures and malfunctions of these devices. The other side of the test is maintaining the status quo or improving the security of the devices to match that of the Blockchain.

2018 Barcelona Congress

Barcelona will be the host of a major Internet of Things congress which will attract a total of 14,000 visitors. The forum will bring together over 300 industry technocrats to discuss the opportunities presented in the transport and manufacturing. The other areas of interest in IoT will be Energy utilities, Healthcare and Infrastructure.

Set to start from the 16th- 18th of October, the Congress will extensively address the challenges, opportunities and the future of IoT. With over 300 sponsors, The Barcelona Congress will provide a great opportunity to interact with industry bigwigs and close deals!

 


The future is now: Blockchain and the Internet of Things
Digital Mag

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