Blockchain, the distributed ledger that eliminates any need for a central authority, has been gaining momentum since the last year. From being a technology that backed a cryptocurrency to becoming mainstream for a secure and robust recording of transactions, Blockchain has come a long way.
Blockchain technology is changing all aspects of doing a digital business. Another technology that has been altering business operations and giving birth to newer opportunities is the Internet of Things buzz. Connecting all devices, or things to the Internet and deriving knowledge from them, or building practical applications on them, is a trend that organisations have well embraced.
The billions of smart things getting connected with each other and with humans can transform cities, homes, and lives. But, this immense interconnection also brings us to the same old worry about the security of big data and information.
Imagine a botnet attack a group of these devices. What are we to do then? To the rescue, Blockchain comes. Security of transactions and operations is the one thing Blockchain technology promises, and the one thing the Internet of Things technology lacks!
Through a winning combination of IoT and Blockchain, a lot of challenges that face IoT can be reduced and a lot of …