Is IoT the Next Boom in Blockchain Implementation? This is What You Should Definitely Know.

Whether it is implementing RFID tags to track shipping consignments or powering on/off? the AC in your house while you are miles away, IoTs or Internet of Things have indeed broadened the scope of possibilities when it comes to controlling and tracking via technology. Based on the benefits that IoTs will bring as we herald into a technological future, the sector is poised to register a 16.7% CAGR to become a $650.5 billion industry ready to revolutionize not just the Web 2 but also the #web3 space. On that note, let’s have a deep dive to know how IoT is changing the world where we live.?

What is IoT?

IOTs or Internet of Things can be best defined as the network of physical objects which have been embedded with sensors, software and semiconductors to facilitate the bridging of connection between two or more devices. Within the ambit of IoTs, one can include everything from household tools and appliances like refrigerators, HVACs to big machines at the industrial unit which can be controlled at a tap of a button on the phone or other related devices. That said, #IoT devices are expected to scale 22 billion? by 2025 with the majority of them being active on Web 3 space.?

Current State of IoT Implementation: An Overview

Cellular IoTs which include in its ambit ( 2G, 3G, 4G, and now also 5G) and LPWA or Low Power Wide Area IoTs like NB-IoT, LTE-M, Lora, and Sigfox have hugely contributed to the IoT adoption. It is expected that 5 years down the line, LPWA will clearly outrun other IoT technology and China would be the prime player in this segment. It might take one by surprise but China has 27% share in all cellular IoTs connections followed by India and the United States. On that note, we can expect that the next age will belong to IoTs but why will IoT boom, that’s a question that needs answering. Let’s look at that as well.?

Why Will IoTs Boom In the Future?

Need For Responsive Devices To Rise

IOT companies have already planned to adopt a frugal method to over-optimize the data intelligence. For that purpose, they are stressing upon minimized wastage to achieve maximum output. IoTs have provided them with the opportunity to manufacture and supply responsive rich devices which gather data for actionable intelligence. To put that into perspective, Michelin, a tire company, has used sensors in their tires that help in conveying the wear and tear. Using this data, the customer would know well in advance when they can replace or rotate their tires. Hence it can help them remain safe on the road.

Improving the Manufacturing Sector?

In Industry 4.0, which majorly stressed upon automation intelligence, IoTs will have a key role to play. Using this technology, the machines can be programmed to work in unison with the production unit. At the same time, since most of the operations will be data-fed, the machines can learn in real-time from humans while they engage in decision making. Through the technology, over the period of time machines will be getting smarter to make important decisions on their own; thus removing the lag at work and improving efficiency.

Revolutionizing Agriculture?

Agriculture will undergo a massive transformation through the use of IoTs as farmers can use their IoT devices to collect actionable insights. Through these data inputs, the farmers will know well in advance the crop cycles, farm inputs and can even survey lands that are up for farming. These will not only result in time saving but will optimize the cost as well to benefit the agriculture sector.?

Adoption in Energy Sector?

The energy sector has already adopted smart-meters which help companies to bill accurately to the customers. At the same time, these meters are also very useful in tracking and identifying those who are using green energy. These households can also sell additional energy that they produce to the grid and receive credits for the same. Hence IoTs could help set-up the gateway which would help in building a sustainable future where energy manufacturing and distribution can be rightfully managed by the technology.?

How Will Blockchain Technology Help in IoT implementation?

Installing Updated Firmware?

Many firms which are manufacturing the IoT devices do not provide timely updates. As a result of this, security gaps surface and hackers could easily utilize this opportunity for malicious intent. For example, if you have a coffee machine operating on top of the IoT tech, you wouldn’t mind its compromise. But what about your home's main door lock or your car? Would you be comfortable enough to compromise? with them? Afraid, you wouldn’t! Using the blockchain technology, timely updates can be uploaded to the server as and when required without the dependence on third parties. In this way, your devices will be much more safe and secure.

Weak Authentication?

IOT devices currently use a weak authentication process which can be easily hacked if someone guesses the password right. Through the use of the #blockchaintechnology , these devices can use Random Neural Network(RNN). Once the RNN has been triggered, even if the hacker has hijacked the network, he/she will not be able to guess the random number accurately to hack into the server and take control of the device. At the same time, blockchain will also eliminate the instance of DDoS attack or Distributed Denial of Service through a decentralized voting mechanism. Hence the users at no point in time can take control of the device.?

How This Will Benefit a Normal Person??

Safeguard Smart Cities?

People have been intrigued by the concept of smart cities. It is a noble approach to venture into technology but it has its own drawbacks. A smart-city running on a traditional centralized server would mean one point of failure. Through the use of blockchain, that can be distributed across nodes to safeguard people’s safety.

Securing Pay As You Go

Using the #dlt or Decentralized Ledger Technology, it would be very easy to set-up pay-as-you-go IoT for vehicles to establish the narrative of a clean future ahead.?

Transparency?

People are having concerns these days while using the IoT devices since they do not know where their data has been kept. Once blockchain has come into the picture, it will simplify data storage and restore safety for people.

?Is SDNA doing anything in this segment?

SDNA Tech has been in the digital transformation business for the past 1 decade and they have done astounding work in integrating technology to improve the business function. Their IoT software's that they have developed has helped proper functioning of the IoT devices. Due to these traits, they have created a separate identity for their services.?

Can SDNA help you implement IoTs powered by blockchain?

SDNA by harnessing their expert team of developers, blockchain architects and system engineers can help you implement the IoT solution that you wish to deploy in your business. Connect to our experts so that they can brief you in detail about the process and show you the POC for better understanding.

To know more go to www.sdnatech.com