Connecting Technologies To Build The “ Fourth Industrial Revolution”
Since a decade it has been anticipated that by 2020 more than 20 billion connecting devices will come into existence. 2020 is here, and this forecast should not be overlooked looking at the wide range of popularity IoT gained in the modern world. But its implementation has been slowed due to certain concerns, which are discussed in this article. Also, deep bits knowledge on how to resolve these issues have been concentrated in this article.
The world is concentrating only on the positive side of connecting gadgets to the internet. But, it is equally imperative to pay attention to the other side i,e. security risk that IoT devices will bring. If this issue isn’t adequately addressed in the initial stages of implementing IoT, it’ll be easy for hackers to target weak points and misuse the data of a company. As more and more gadgets are being connected to the internet, servers will get overloaded, and indeed, a single point of failure will become more apparent.
This issue can be resolved by interfacing it with blockchain technology which can offer assistance in strengthening the future of IoT.
Not just with the IoT, even Blockchain, Artificial Intelligence(AI), and Big Data, which are all considered as “Big Four” technologies have issues and concerns that are being heeded about their growth.
This is what made companies wonder if combining these technologies could solve the problems. Big Data, as a cornerstone component, can be useful when combined with both AI and Blockchain, but perhaps the combination of IoT and blockchain can again help the advancement of these two technologies.
Blockchain has slowed in its adoption and growth, but its application is broad and comprehensive. Thus it can benefit AI and IoT technologies. Blockchain can also play a significant role in helping IoT along.
Undoubtedly, IoT may be a prevalent innovation. Still, it has moderated down recently because of the concerns related to security and the opportuneness of usage. In a similar vein, this has also happened with Blockchain.
As IoT and Blockchain are within the same pace when it comes to adoption, combining them may help each other to solve at least some of the significant concerns. Startups, companies, and users of IoT and Blockchain decided that the Fourth Industrial Revolution will not just be built on one, but a combination of all of them in different facets.
The combination is going to work this way; If IoT has issues with security, then Blockchain can help secure the data with its most significant feature “immutability”. Similarly, if AI is struggling with its recording of data and a record of AI, Blockchain comes to its aid. Finally, if Blockchain is able to solve these issues when integrating it with the above technologies, then Blockchain will become more useful, making it indispensable in some sectors. Such adoptions have always been a hope for the distributed ledger technology.
It is high time for the blockchain developers to stop concentrating on employing a single blockchain by disturbing the other sectors, both past & present. Instead, begin concentrating on how they can utilize the most extreme potential of blockchain by combining it with IoT, AI, Big Data, and other innovations, to build that Fourth Industrial Revolution.
31/12/2019
