IoT Meeting Blockchain- Bringing Fundamental Change
There are numerous applications where IoT and blockchain finds its scope. Ranging from electricity industry to using smart contracts or recording autonomous machine-to-machine transactions. Blockchain is highly being used for security reasons with optimization, adopting AI approach and predictive maintenance improvements which boosts the decision making and facilitating new applications.
The IoT platform incorporates blockchain and artificial intelligence in a way of IoT and AI, IoT and blockchain. Numerous technologies are emerging such as next-gen security, fog computing, edge computing, computer vision and others. IoT and blockchain technologies are being implemented in supply chain, compliance with security, end user authentication and smart contracts.
As IoT renovating offline objects to online assets, transports, manufacturing units are more susceptible to threats. Nowadays, smartphones, desktops needs to be secured and the businesses that are more use to deploying new technologies requires more strategic and planned security. Blockchain based IoT will enhance and make our home connected, secure and reliable. By adopting AI, businesses can make the IoT more widespread in its approach for analysis of data and other insights.
Business adopting the all-inclusive approach of blockchain and IoT will be among the few to ace the market competition. This requires structuring intellectual IoT ecosystem by utilizing enhanced AI and machine learning enabled IoT. The fundamental attributes in the blockchain IoT app development are large scale data management, domain-specific knowledge and developing high performance infrastructure to deal with complex business operation and data processing.
Variety of operational and compatibility challenges need to be addressed. There are some compliance issues raised by IoT-blockchain amalgamation that need to be solved. If given the impetus behind the individual technologies and the possible synergies between them then the merging of IoT and blockchain is going to create wonders.