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Blockchain and the Internet of Things explained

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Blockchain and the Internet of Things explained.

Blockchain and the Internet of Things (IoT) are two distinct but related technologies that have the potential to transform a wide range of industries and applications.

  1. Blockchain: Blockchain is a decentralized, digital ledger that uses cryptography to record and verify transactions. It allows multiple parties to access and share a single, tamper-proof version of the truth without the need for a central authority. This makes it well-suited for use cases such as financial transactions, supply chain management, and digital identity.
  2. Internet of Things (IoT): IoT refers to the network of physical devices, vehicles, buildings, and other objects that are embedded with sensors, software, and connectivity, which enables them to collect and share data. IoT devices can be used to monitor and control various systems and processes, such as industrial equipment, transportation systems, and energy management.

The combination of blockchain and IoT has the potential to create new and powerful applications and services. For example, blockchain can be used to secure and manage the data generated by IoT devices, such as sensor readings, and to enable secure and efficient sharing of that data among multiple parties. Additionally, blockchain can be used to create tamper-proof records of the authenticity and ownership of IoT devices, and to enable secure and efficient micropayments for the use of IoT-enabled services.

Training on IoT, Big Data and Supply Chain.

Data Quotes

  • “Not everything that can be counted counts, and not everything that counts can be counted.” ~ Albert Einstein
  • “All businesses need to be young forever. If your customer base ages with you, you’re Woolworth’s.” ~ Jeff Bezos, CEO Amazon.
  • “The goal is to turn data into information, and information into insight.” ~ Carly Fiorina, Former CEO of HP
  • “The world is one big data problem.” ~ Andrew McAfee
  • “In many cases, jobs that used to be done by people are going to be able to be done through automation. I don’t have an answer to that. That’s one of the more perplexing problems of society.” ~ John Sculley, former CEO of Apple.  
  • “The temptation to form premature theories upon insufficient data is the bane of our profession.” ~ Sherlock Holmes, fictional detective
  • “The greatest value of a picture is when it forces us to notice what we never expected to see.” ~ John Tukey, American Mathematician

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