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Blockchain in IoT and the Advent of Truthful Data

Blockchain in IoT and the Advent of Truthful Data

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Episode 92

Blockchain. One of the few technologies more hyped than IoT. Put them together and it’s a hypefest. But is it warranted? Honestly, I don’t know but I can tell you, for me, the decision is not going to be based on if it’s cool tech, it’s going to be based on, if that cool tech contributes to making more money. In this episode of the IoT Business Show, I speak with Jessica Groopman about what blockchain is and how it fits into the Internet of Things.

In this episode of the IoT Business Show, I speak with Jessica Groopman about what blockchain is and how it fits into the Internet of Things.

Jessica is Industry Analyst and Founder at Kaleido Insights, a research and advisory firm specializing in innovation strategy, by analyzing new technologies’ impacts on humans, organizations, and society. Jessica leads the automation practice and conducts research on enterprise and consumer applications of IoT, blockchain, and artificial intelligence.

So far, what I see as the major value prop of blockchain in IoT is, “truthful data.” If it’s practical to use blockchain, and practical is the operative word, then truthful data plays a major role in identity management and security, but it could play an even bigger role in efficiency by eliminating the middleman in the operational and financial transactions between IoT systems and data sources. But the big question is, at what cost?

Here’s What We’ll Cover in this Episode

  • The definition and characteristics of blockchain – from a few different perspectives.
  • Smart contracts.
  • Security enhancements from using blockchain.
  • How integrating financial and operational transactions in a truthful way increases efficiency.
  • The challenges and inefficiencies of blockchain – you may be surprised.
  • Typical size of today’s blockchain pilot programs.
  • Shared truth and why it’s so important.
  • When will blockchain be here, in a commercial way?

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