Blockchain and IoT: towards a Web 3.0

IoT and blockchain are two topics that are generating a great deal of enthusiasm, not only in the technology circle, but also in the business world.

With the progressive growth of the IoT phenomenon, the centralized networks will soon become a bottleneck, causing delays and failures in critical exchanges due to excessive traffic congestion ...

IoT and blockchain are two topics that are generating a great deal of enthusiasm, not only in the technology circle, but also in the business world.

With the progressive growth of the IoT phenomenon, the centralized networks will soon become a bottleneck, causing delays and failures in critical exchanges due to the excessive congestion of network traffic.

It is precisely with this in mind that the association of blockchain technology to the IoT is increasingly gaining ground.

There are supporters who say that both are destined to revolutionize all aspects of our lives.

And then there are detractors who point out that many of the possible uses have yet to be truly proven.

However, the idea that putting them together could lead to something even bigger than the sum of its parts. This last hypothesis is beginning to gain ground.

IoT is a term used to describe the continuous proliferation of devices that are always online, which collect data in our work and personal lives.

Blockchain is an encrypted digital storage system designed to allow the creation of tamper-proof real-time records.

Put together IoT and blockchain and, in theory, you have a verifiable, secure and permanent method to record data processed by "intelligent" machines.

"This decentralized approach would eliminate all the failure points of traditional networks, facilitating the creation of a safer ecosystem for smart devices".

"The cryptographic algorithms used by the blockchains, moreover, would increase the protection of data of private consumers". It supports Annalisa Casali in her interesting article "IoT and blockchain the binomial behind the Digital Transformation".

For these reasons the blockchain is applying for the key application role for the IoT industry.

In the future, IoT will become a network of interconnected offline devices that can interact with their environment to make intelligent decisions without human intervention. In other words, when an object can perceive and communicate, it changes how and where decisions are made and who creates them.

The implications of this connectivity revolution go far beyond smartphones. In fact, this revolution is about to be applied on an industrial scale to everything, in a way that today is hard to imagine.

The IoT will benefit each industry as it will be able to:

Analyze data in real time

Improve the customer experience

Generate new jobs in flexible organizations

Reduce the time-to-market of products

Manage intelligent machines that will automate tasks

From this point of view it will be essential that the transmission of information takes place as safely as possible.

SOURCE: Digitaluniversitas