Assimilating Blockchain in IoT Technology

By CIOReview | Tuesday, April 24, 2018

With more and more IoT devices being connected to the household a new future of optimized energy utilization and minimization of waste is set to unfold as smart cities as the future gain momentum. IoT devices will be used in the future cities to determine intelligently the best process to treat sewage in an environment-friendly way to minimize the spread of diseases and unsanitary environment, maintain traffic, supply energy and gas. Coming back to the present scenario, IoT devices are also being used to maintain the physical aspects of household security, which highlights the cybersecurity concerns.

With any smart technological development, we have witnessed that hackers follow suit to breach the firewall of such technology, sometimes for monetary gains and other times for superiority display. This poses the question that even though IoT devices will make the society’s life a lot easier, is it wise to implement them?

There is an easy answer to this conundrum—Blockchain. Data scientists believe that blockchain will be the answer as the peer-to-peer sharing platform with data encryption technology will prevent data breaches and cyber-attacks. Furthermore, the data stored in each of the blocks can be changed once registered and a permission key can be enabled to prevent the access of unauthorized personals to view the data.  This feature automatically generates trust among the people.

Data transaction will become simple, swift, and decentralized, thus, preventing security breaches and bringing connectivity to scale. Blockchain also provides auditing capabilities due to the innate timestamp function for authorized personnel to monitor progress over a time period.