Internet of Things and Relationship with Blockchain - Krypto Keepsafes
Internet of Things (IoT) is currently a multi-billion-dollar industry and projected to grow even further with huge potential in developing countries. These interconnected devices support millions of “digital twins”, where virtual copies of physical objects or processes are created. These virtual copies consist of IT components for status updates, connectivity, defined data structures and user interfaces which visualize relevant data. Blockchain technology appears as potentially the most suitable and efficient way to generate, monitor and exchange digital twins due to its features of immutability and transparency. This blog discusses how IoT and Blockchain can be brought together to revolutionise the digital space.