Opinion: blockchain is the missing link in the IoT development

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3 months ago
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Maciej Kranz, vice president of strategic innovation at Cisco Systems, published a reassuring article in the journal Network World.

Blockchain is more often associated with cryptocurrencies, such as bitcoin, and confidential financial transactions, but for the corporate world, it is much more than a secure digital ledger, Kranz says. According to him, the blockchain in combination with the Internet of things will open new possibilities creating new business models that have both transparency and multi-structure and are not subject to many security problems with data transmission.

Among the optimal sectors for the implementation of blockchain and IoT Kranz names logistics. DLT can help supply chains that are complex and multilevel ecosystems, reducing the issues with tracking and counterfeiting. Another area for blockchain to rise and shine, according to the author, is medicine – primarily medical records and prescriptions.