Problems and VECAP’s solutions

Interest in the Internet of things and the number of existing IoT devices continue to grow every day! But the security of IoT devices is significantly inferior to the pace of development of the Internet of things. According to Ericsson research, there will be over 18 billion IoT devices in the world by 2022. At the same time, according to AdaptiveMobile, about 80% of existing IoT devices do not have a sufficient level of protection. Thus, it becomes obvious that the issue of security is vital for the further development of the Internet of things technology.

Ø What does VeCap offer?

VeCap will be able to protect all smart home or office devices by combining them into a single decentralized network. All transactions made between IoT devices will be recorded in the blockchain on the basis of smart-contacts. Blockchain records will be duplicated on millions of IoT devices in tens of thousands of smart homes and offices, which will make this network virtually invulnerable.

Ø But that’s not all!

Another important problem faced by owners of smart homes is the problem of compatibility of devices with each other. BCG and McKinsey argue that in order to increase the market share of smart homes, their suppliers must develop ecosystems and platforms for compatible devices, which will eliminate the limitations of their offerings. The earliest owners of smart homes will be the first to understand the problem, who deal with the problem of compatibility of devices in their homes. Therefore, all IOT devices certified by VeCap will be automatically added to the blockchain ecosystem, which will allow them to interact with each other directly or through special VeCap modules.

More information about the solution for IOT from VeCap-on our official website https://vecap.io