Blockchain & IoT is a great combination!

“Organizations that are relatively more mature in adopting IoT are also seen to be way ahead in their implementation of blockchain technology” — By Gartner

Digital transformation is knocking at the door & we should respond to it. Blockchain and the Internet of Things both are next-gen- tech with many beneficial outputs in their mainstream. But what about their relationship or combination? Do you ever think about it? If not, then this article will wipe out all your confusion.

So, let’s start from scratch. In simple terms, a blockchain is a decentralised distributed ledger free from all kinds of manipulation. It is the safest and most secure network protected with nodes. The tech has gained numerous attention after the cryptocurrency launch since more or less 2014. The Internet of things is a network of physical objects embedded with sensors, software and other technologies. Its sole purpose is to form a connection or network between the devices over the internet. Blockchain is now linked with various sectors like blockchain and finance, blockchain and logistics, blockchain and cybersecurity, blockchain and the internet of things.

When Internet of Things meets with Distributed Ledger Tech.

Blockchain is a third-generation technology as it is different from other techs. In recent years, IoT will be combined with the revolutionary tech of the era. Blockchain is a key to all major security hurdles and brings seamless benefits to you. One benefit will be drawn from the Internet of Things as well. Although, the tech would take 10 years for a mature evolution.

The decentralised distributed ledger will help IoT to form communication between devices directly. Blockchain technology is specifically designed for transactions and interaction. So, the technology will not only support in terms of features but also in cost-efficiency.

Is it’s a great combination?

The technology is revolving itself at every step. With its expansion, security problems are also increasing. The collaboration of IoT and Blockchain will be a great thing. It provides a massive benefit to the tech world and keeps business ahead in every situation.