Blockchain: when the result exceeds the sum of the parts
From Internet of Things towards the Blockchain of Things.
When we use the term IoT (Internet of Things) we refer to a technology that is based on the use of some physical objects able to interconnect with each other through the network: hence the name ‘Internet of Things’.
These ‘things’ are nothing more than IoT sensors and devices, i.e. intelligent electronic devices with monitoring, data detection and automation functions, which allow the digitization of a large number of operations.
IOT is revolutionizing the way we live and work and with the advent of Blockchain this revolution promises to become even more profound and disruptive.
How an IoT ecosystem works?
IoT is a set of different and complementary technologies, all networked and capable of communicating in order to perform the established tasks or react to certain conditions. There are four main elements that unite all IoT ecosystems: sensors, devices, software and networks.
This is where the whole flow of information starts. The sensors read the data relating to processes, activities, events, environments and send them to the other elements of the IOT ecosystem. Typical sensors are photoelectric cells, accelerometers, temperature or pressure sensors.
They are the famous ‘intelligent objects’, that is devices of various types capable of receiving data from sensors and sending instructions, managing the flow of information in a bidirectional way. It can be specific hardware or simple smartphones and tablets.
They are entrusted with the data processing process and the transformation of what is measured into information that can be used by the user of the platform. It is essentially the engine that drives the entire IOT ecosystem.
If the sensors are the engine, the networks are the communication routes, the technologies that allow you to connect all the different devices together. They are naturally the founding element, as it is thanks to their functioning that the IOT ecosystem can exist.
Monitor, communicate, improve: how effective is the Internet of things.
Integrated into environments or processes, an IOT ecosystem offers many advantages and allows you to carry out operations that would otherwise be impossible, too long or excessively expensive.
Detect, measure, check
The different types of IOT sensors can be installed on any machinery, equipment or environment, monitoring what is happening and sending signals and information to the connected devices.
All the data collected can be placed on the network and shared in real time. This means that the user has the ability to control the process and interact when and where he wants, simply by using his IOT device.
Optimize your tasks
Analyzing the data through IOT software it is possible to always have an updated overview of what is happening, compare different periods and identify critical issues and trends, anticipating problems and optimizing each process.
Here comes the Blockchain. And nothing is the same anymore.
The change of technological paradigm initiated by Blockchain is being fundamental for the world of Internet of Things. Thanks to the characteristics of the Blockchain, any IOT device connected to the network can be traced and each passage of information is recorded in a certain and immutable way.
Basically, the architecture of the Blockchain provides to IOT the optimal conditions to spread more and more and become indispensable for a multiplicity of uses, in the private and industrial sectors.
Security is undoubtedly one of the key points that make the Blockchain so popular in an increasing number of applications. An IOT ecosystem based on a decentralized network is first of all less vulnerable, as it does not have a Single Point of Failure (SPOF) sensitive to cyber attacks or breakdowns and loss of information, guaranteeing the general efficiency and privacy of users.
What happens in Blockchain, stays in Blockchain. Forever
Every transaction recorded and processed by the IOT systems is saved to Blockchain through operations such as the timestamping and the notarization. In this way, are created immutable records of the process or activity that are always available and verifiable, which make the entire ecosystem transparent, reliable and incorruptible.
Internet of Things with no more masters
Leaning on the Blockchain, IOT no longer needs a central authority to regulate the flow of information and value. All devices are able to communicate autonomously and transactions are validated and guaranteed by the distributed architecture.
IOT and Blockchain: together for business development.
The applications of an integrated IOT – Blockchain ecosystem have no limits, thanks to the great versatility and scalability of the technologies used. Basically, any process can be measured by IOT sensors and the information collected can be recorded in Blockchain and made safe and immutable.
Each production line can be equipped with sensors and IOT devices connected to the management systems, able to report on Blockchain the entire flow of information related to the process. In the design it will be essential to go as close as possible to the data source, thus reducing the number of steps, for greater reliability.
In terms of quality and food safety, it is essential for those who work in the food sector to be able to guarantee complete traceability of raw materials. IOT and Blockchain come to the aid of producers, making it possible to identify with certainty every step and every actor in the supply chain, making the entire production transparent. Find out more.
Insurance and security services
The ability to automatically acquire reliable information details from IOT systems and save them on Blockchain (where they are kept without risk of manipulation) makes the integration between the two ecosystems a vital resource for sectors such as insurance or for those involved in supervision, where it is necessary to verify claims or incidents for the disbursement of reimbursements.