OCTOBER 201919`BLOCKCHAIN OF THINGS' IS FUTURE OF `INTERNET OF THINGS'By Prasanna Lohar, Head Technology ­ Innovation & Architecture, DCB Bank DCB Bank (formerly known as Development Credit Bank) is a modern emerging new generation private sector bank with 331 branches across India.Background In today's society, internet ac-cess and general connectivity have never been more apparent or important. Anyone with a lap-top, mobile or computer should have access to the internet, but now that can be expanded even more, which is where the top-ic of the Internet of Things (IoT) comes into play. But the question is "How can we increase inter-net connectivity between every-day devices and other popular objects without sacrificing se-curity, scalability, or accessibili-ty?" Of course, BlockChain once again can be applied to help out in this situation, especially when it comes to increasing the effi-ciency and productivity of digital infrastructures. How Internet of Things (IoT) Works?IoT refers to a network of con-nected devices that are capa-ble of collecting and exchang-ing data. IoT-enabling platforms provide a common network for devices to dump their data and a common language for these de-vices to communicate with each other, allowing people to use it to their benefit.Communication devices - or sensors - are embedded in every-day objects, such as phones, TVs, indoor climate systems, electri-cal appliances, cars, traffic lights and industrial equipment. These sensors continuously emit data about the working status of con-nected devices and allow them to send and receive data from each other via the cloud (internet).IoT platforms will then ana-lyze the data to extract valuable information and share it with other devices to initiate specif-ic commands or actions. The result is a better human experi-ence, greater automation and im-proved efficiencies.IoT Standards and ProtocolsThere's a vast array of technology out there that can accurately be described as enabling IoT. Just at the networking level, there's Bluetooth, Bluetooth LE, ZigBee, RFID, Wi-Fi, cellular, Z-Wave, 6LowPAN, Thread, NFC, Sigfox, Neul, LoRaWAN, Alljoyn, IoTivity, Weave, Homekit, MQTT, CoAP, JSON-LD, and plenty more that can and do play a part in IoT implementations. All of these are technical standards, and there are huge overlaps in their areas of functionality, which means that any giv-en device might work with one, several or none of them. So interoperability can be a problem.CXO INSIGHTSBlockchain at its core is a cryptographically secured, distributed ledger that allows for the secure transfer of data between parties
< Page 9 | Page 11 >