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#News(General) [ via IoTForIndiaGroup ]
In 2017, according to analysts Gartner, there were an estimated 8.4 billion IoT devices. By 2020 that number could exceed 20 billion, and by 2030 there could be more than 500 billion. The implications of this revolution in connectivity extend far beyond just smartphones and private houses. In fact, it’s about to be applied on an industrial scale to everything from fridges to farming to healthcare, in a manner people can hardly imagine.
Currently, any failure in an IoT ecosystem exposes multiple devices, huge amounts of highly personal data (for example, smart home devices have access to intimate details about our lives and daily routines), supply chain partners and the community as a whole. Such security flaws typically revolve around three areas: authentication, connection, and transaction. Devices that verify, connect or spend improperly with other devices are all major concerns.By using blockchain to manage access to data from IoT devices any attacker would have to bypass an additional layer of security that is underpinned by some of the most robust encryption standards available. In addition, because there’s no centralized authority, single-point failure concerns become a distant memory, no matter how populated a particular network is.
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