Blockchain Applications in IoT

JAMES SCHAEFER | August 29, 2018

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Blockchain is no longer in its infancy, but it’s still very new. Similar statements can be made about the Internet of Things (IoT). The buzz around blockchain applications in IoT, however, is far more recent. The union of the two verges on the untested—and currently, the unapplied. Despite the fog of confusion and misinformation around blockchain, it has exciting potential applications in IoT. Ranging from secure device communication (and device identity validation) to distributed data creation and automated data selling, blockchain applications in IoT have many possible benefits the keyword here, however, is possible.Many if not all of these possible applications have yet to make it out of a pilot test or even a laboratory setting. Some roadblocks remain before blockchain applications in IoT can become a scalable standard. The first of these challenges is longevity. Many IoT sensors are designed to be operational in the field for years. Some last for a decade. On the other side is blockchain, whose overall market environment is still highly volatile.

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A marketing strategy is successful when it maximizes the benefits to your firm. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the key ingredients in the marketing plan?", "acceptedAnswer": { "@type": "Answer", "text": "Here are the critical ingredients of the marketing plan Extensive market research Appropriate financial planning Robust market strategy Utilization of marketing channels Analysis of competitors Clear marketing objectives" } },{ "@type": "Question", "name": "What is a successful marketing plan?", "acceptedAnswer": { "@type": "Answer", "text": "A successful marketing plan generates a positive return on investment (ROI), additional revenue, client lifetime value, and cost per win (sell), among other metrics. A marketing strategy is successful when it maximizes the benefits to your firm." } }] }

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