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How distributed ledgers enhance the IoT through better visibility and create trust
Blockchain isn't just for bankers anymore. Most of the buzz around the distributed ledger has focused on its uses in finance, where it originated. But one of the most promising blockchain trends is its growing disruptive presence in the Internet of Things (IoT).
Companies are pioneering innovative new solutions that use blockchain for tasks like tracking goods as they move and change hands in the supply chain, monitoring the location and condition of assets like industrial machinery at remote work sites, or storing medical data, and they are transforming the IoT
In a new report from BI Intelligence, we analyze the developing role of blockchain in the IoT ecosystem. First, we look at how blockchain works, both generally and as part of an IoT solution. We then identify the areas most suited to use blockchain as part of larger IoT projects, specifically looking into the supply chain, asset tracking and monitoring, and health care. Finally, we discuss the challenges companies looking into blockchain solutions for IoT programs will face, and explore what the future holds for blockchain in the IoT.