Top Benefits of using Blockchain for the Internet of Things

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Top Benefits of using Blockchain for the Internet
of Things Blockchain, the distributed ledger
technology is about to transform all aspects of
the digital business.

• According to International Data Corporation, by
  2019 20 of all IoT deployments will have basic
  levels of blockchain services enabled. Also, IoT
  based spending to top 1 trillion by 2020
  representing a large area of industries including
  agriculture, transportation, logistics, and
  healthcare.
• Three Benefits of using Blockchain for IoT
• Building Trust Blockchain technology development
  has the potential to build trust between devices
  and parties. As none of the individuals can
  actually see each other over the network, but
  the transparency, security and immutability
  features help the participants to trust each
  other. This trusting reduces the risk of
  collision and hacking.
• Reduction in cost The transaction or
  peer-to-peer exchange of information are
  happening directly between them which eliminates
  the need for intermediaries or middlemen. This,
  in turn, reduces the operating costs.
• Accelerate transaction Blockchain technology is
  really fast. It takes seconds for any
  transactions. It reduces settlement times from
  days to mere hours.

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• Deployments of IoT is not easy and for that
  distributed ledger is well suited. As it can
  offer IoT device identification, authentication,
  and seamless secure data transfer.
• Blockchain and IoT is experimented in different
  industries across the world, here are some
• examples
• They can lead to intelligent automated insurance
  policy applications
• Security in smart logistic
• Changing business model in the energy industry
• As this is going to be big, companies and
  enterprises need the right partner to help them
  to succeed. The future of all these new
  technologies is bright.
• We are working on blockchain-based application
  development, you might want to know how it can
  help you. Contact us today and lets discuss your
  plan to integrate blockchain in your business.

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