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Blockchain Technology And IoT: What It Is And How It's Driving Development Of New Smart Systems

Solution providers need to be up to speed on emerging technologies as they relate to the Internet of Things. Here's a guide to blockchain technology and why it matters to solution providers.

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Blockchain And IoT

As solution providers look to capitalize on Internet of Things opportunities, a new term may soon need to be raised in conversations with customers: blockchain technology.

Blockchain technology is the decentralized ledger of all transactions across a peer-to-peer network – meaning that participants can confirm transactions without the need for a central certifying authority.

Blockchain came into the spotlight in 2009 after the first cryptocurrency, Bitcoin, was launched. But the technology has a variety of other applications and, as the Internet of Things market grows, there will be more opportunities surrounding it. Following are five things that solution providers need to know about blockchain technology as it relates to the Internet of Things.

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