What is IoT?
Imagine a world were information is being traded freely and instantaneously...
The time your alarm wakes you up is based on the traffic delays of that morning, knowing you like to get coffee on your way and accounting for that in the time it says you have to leave the house. You walk in to get a coffee and it has already been pre-ordered based on what you normally get given the current weather conditions and your wallet pays for it without even pulling it out, by automatically trading some of your appreciating crypto assets for a stable coin, akin to fiat. Want to go out to dinner? It would present some options based on your past likes and then book the reservation for you. While you are at work it hires out your car like a self-driving Uber, automatically depositing the revenue into your wallet. On your way home it takes the HOV toll lane and pays the toll based on time of day, traffic and number of people in the car. You pull up to your house, the door unlocked for you, the tea kettle hot for your evening tea. We are just starting to hear the whispers of this future with smart home lighting, Netflix predicting your interests and self-driving Teslas.
The future we are walking toward is this future based on interacting, constant streams of data...
This technology is being actively developed by many companies around the world. The problem is each one is developing to their own standards, storing data in their own centralized cloud servers and not working to involve each other to progress the ecosystem. We have to trust these companies to keep our data safe and maintain their servers.
This is where blockchain technology comes in.
Blockchain technology enables data to be open to all, unchangeable and decentralized by distributing the same record to everyone. There doesn't need to be trust and privacy can be ensured with cryptography.
This technology will drive standardization and allow all devices to utilize information from many sources of data in order to make intelligent decisions enabling the next generation of Internet.
To learn more about blockchain and some of the technology behind it, click the link.
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