The use of blockchain for IoT

Since I joined #SettleMint, I wanted to understand what #blockchain technology means for #IoT. Let me share some of my findings.

1) Blockchain is a distributed network. It removes the single point of failure that we usually see in traditional client-server networks. It means that we can share data directly between parties without the middle men :-)

2) Blockchain enables the use of Smart Contracts. A line of codes with a business logic (e.g. if-then-else), signed between parties, and stored on a blockchain network. So, it allows to define with who and under which conditions we share data with each other. How cool is this?

3) The first commercial implementation of Blockchain was a crypto-currency. Its 18 digits decimals made it possible to do micro transactions between companies.

IoT & Blockchain

We all know that IoT is there to reach a business goal: e.g. predictive maintenance. This requires a mix of technologies and skills. I have some doubts that one single company will deliver a full end-to-end solution. I'd rather see a mix of complementary companies and platforms, working together, to reach business goals.

What if we regulate the exchange of data between them using Smart Contracts? And, we rely on the decentralised nature of blockchain to reduce the risk of failure? And that some of the data could be monetized through data exchange crypto-currency?

SettleMint's venture DataBroker DAO (#DataBrokerDAO) makes this all real. From February 25 to 28, we will be exhibiting the Mobile World Congress #MWC19.

Come and see me at the Belgian Pavilion G71 or book my calendar using this link: https://calendly.com/vincentbultot/60min

Looking forward to showing DataBroker DAO in action!

Note: take the last training seat available for the 1 day training "Discover the business potential of Blockchain"scheduled on 4th of March in Leuven (Belgium) : https://www.eventbrite.com/o/blockchain-academyglobal-13425571722

Vincent