There is
a lot of hype around blockchain technologies, including it's use with IoT. Necessity and cost are surly concerns, where blockchain technologies do
not bring
many advantages when compared to more traditional device technologies.
When it comes to trust, the immutability of blockchain technology is a wonderful concept. Which
may make it very attractive to areas of the world where corruption perceptions are higher. But it's important to understand that a blockchain is
not a single player game.
Adding a blockchain to some 'thing' does
not automatically establish trust. Trust can
only be achieved when a blockchain has many participants. See '51% attack'. To attract participation, a blockchain
must contain information that's useful to others.
IoT developers are
probably drawn to the potential that blockchain immutability and trust
may provide IoT security. Security is a
very important part of IoT development. While a blockchain
may offer better security, compared to other approaches... Blockchain is not required for IoT development, security is.
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Brian LaVallee
INVITE Communications Co. Ltd
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Original Message:
Sent: Aug 02, 2018 04:51
From: Thandi Demanet
Subject: How important will blockchain/DLT be in IoT developement?
In the thread on "What thing would you connect?" Discussions within the IoT community seem to have died. Either everyone is hunkered down and working...
blockchain came up and so I thought I'd start a new thread to discuss what role this technology will play in IoT and how important it will be to its development.
Any thoughts, comments, concerns - bring them to the table!
Through several conference panel discussions and workshops around the world, I found it interesting that while there is a contingency of blockchain skeptics highlighting concerns around trust, necessity and cost across Europe and North America, these were not expressed in rapidly developing markets across South East Asia and India for example, where there seems to be a general consensus that it is vital and inevitable that blockchain be exploited and at great advantage as well.
I'd be very interested to gauge opinions in this global community and try to get a sense of what makes blockchain so attractive to some, and simply hype to others.
Thandi
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Thandi Demanet
TM Forum
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