Troy Norcross says with 30bn devices set to be connected by next year, the Internet of Things and blockchain have significant opportunities to grow together in the futureTHERE will be some 30bn connected devices by 2020 producing a staggering five quintillion bytes of data each day, according to Tim Stack of Cisco Systems.So what are these billions of connected devices? Think about all of the smart home devices like thermostats and lighting controls, sensors built into your cars, and even simple Bluetooth devices monitoring temperature, humidity, and motion on containers.Today’s solutions for managingthis growing glut of data from an ever-growing number of devices is to pullthe information into one or more large central locations.Google takes in all the data from Nest and Google Home. Amazon pulls in data from Amazon Alexa and all things connected to the Alexa-based smart home.Dozens (if not hundreds) of other smaller companies are collecting their own large data lakes of information which they are desperately trying to figure out how to monetise.But these are centralised thirdparties who may not have business interests aligned with those of us who have all of these sensors in our lives. What is needed is a decentralised system for storing,… Read full this story
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