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Introduction

Blockchain technology is commonly associated with Bitcoin, Ethereum, and other digital currencies. These digital currencies established the viability of distributed ledger as a means of conducting, verifying, and permanently recording transactions without the need for a trusted third party.

Highlights

  • There is strong potential to use blockchain in IoT for security, identification/authentication, verification, and record-keeping. We have seen particular interest in using blockchain to enable 'smart contracts' (also called self-executing contracts) created between machines as IoT-enabled machine-to-machine transactions take place.
  • However, blockchain is not an appropriate solution for all IoT transactions. The question is whether the value of eliminating the friction point for a particular workflow in IoT is worth the investment in implementing a new technology and in dealing with new complexities.

Features and Benefits

  • Evaluates the role of blockchain in IoT.
  • Examines blockchain use cases in transport and logistics and agriculture verticals.

Key questions answered

  • How does the distributed ledger technology of blockchain fit into IoT?
  • What are the pitfalls to watch out for?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Recommendations

The role of blockchain technology in IoT

  • What is blockchain?
  • Blockchain use in IoT
  • Blockchain use caveats

Appendix

  • Methodology
  • Further reading
  • Author