Why Blockchain Needs IOT

Essential to Arckadl’s Blockchain Session Controller™ is another equally hyped technology, the Internet of Things (IoT) and, more specifically, Software-Defined IoT. Interestingly enough, the concept of IoT needing blockchain is not new and has since been a discussion topic for several years now. The combination of these technologies is believed to produce a virtually limitless variety of possibilities.

Consider the potential limitations of IoT that blockchain addresses and a real-life application of what can be accomplished with both technologies working together.

Blockchain provides security that IoT lacks

Blockchain works as a fully transparent, distributed ledger to provide exchange items of value without an intermediary. Setting the standard for security, trust protocols ensure that records on the blockchain are not altered. This principle can be carried forward to allow secure messages between all IoT devices without a central authority (as is true in the server/client model). Encryption or a private sidechain may be used in the case of confidential data to ensure the network is restricted to company members only, and permission may be needed to read, audit or transact on the blockchain.

Decentralization means no single point of failure

Concerns also exist around one central authority storing mass amounts of data and the regulations around protecting consumer information. After all, as is the case in many organizations, the fine for releasing personal data might be less than the amount earned from selling it. Blockchain provides an additional benefit as a decentralized solution in that no single organization owns the data stored on the ledger.

Remove IoT siloes for increased scalability

Blockchain reduces overhead costs

Provides a foundation for enterprise blockchain solutions

The combination of IoT and blockchain is just one of the technology combinations that the Blockchain Session Controller™ is based on. To learn more about how the Arckadl blockchain solution works or the future iterations, we encourage you to follow our journey on Twitter.

Believe blockchain and IoT go hand-in-hand, leave us a clap and let us know why you agree in the comments.

Arckadl is a global company with an enduring commitment to the foundation of all trusted ecosystems using blockchain technology.