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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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Benefits Of Blockchain

Blockchain technology helps users make transactions with increased transparency and accurate tracking tools.

Because two parties are able to use blockchain to make exchanges without oversight or intermediation of a third party, this strongly reduces or eliminates counterparty risk, and puts users in control of all their information and transactions.

Blockchain data is also consistent, timely, accurate and widely available to users. Due to the decentralized networks, this technology does not have a central point of failure and can therefore better withstand malicious attacks.

Finally, changes to public blockchains are publicly viewable by all parties for increased transparency, and transactions can't be altered or deleted.

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