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Top Benefits of using Blockchain for the Internet of Things

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Blockchain, the distributed ledger technology is about to transform all aspects of the digital business. – PowerPoint PPT presentation

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Title: 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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