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As IoT adds more and more devices to the digital fold every day, organizations of all types and sizes are recognizing IoT’s potential to improve processes. Meanwhile, the number and variety of IoT solutions has expanded exponentially, creating real security challenges. Primarily, there is a need for secure common tasks such as sensing, processing, storing information, and communicating.
Blockchain or Distributed Ledger Technology may have a similar impact upon homes and offices as the internet. Blockchain’s big advantage is that it’s public and secure. Everyone participating can see the blocks and the transactions stored in them but the content is protected by a private key. A blockchain is decentralized, so no single authority can approve transactions or set specific rules to have transactions accepted. All the participants in the network must reach a consensus to accept transactions. Another security feature of Blockchain is that the database can only be extended. Previous records cannot be changed easily.
According to globenewswire.com, the possibility of interaction between blockchain and IoT would increase the security of remote access provided by IoT applications alone. The convergence of blockchain and IoT is on the agenda for many companies and there are existing implementations, solutions and initiatives in several areas, outside of IoT and financial services.
IBM Blockchain is currently exploring the interaction of Artificial Intelligence (AI), IoT and blockchain that will lead to possible IoT applications. To illustrate the benefits of blockchain and Internet of Things convergence, IBM gives the example of complex trade lanes and logistics whereby smart contracts can follow (and via blockchain technology register), everything that has happened to individual items and packages.
The latest technological innovations in the IoT field in defense, security and law enforcement, smart city/safe city, industry, etc. will be the focus of the forthcoming IoT 2017 Conference and Exhibition organized by iHLS.
The event that will be held on December 25th, 2017 at the Lago Conference Center in Rishon LeZion will serve as a meeting point to all the leading members of the IoT ecosystem in Israel and abroad: experts, industries, startups and entrepreneurs, integrators, and officials from the defense and security, law enforcement and first responders sectors, and many more.