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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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Challenges Of Blockchain

One big issue surrounding blockchain is that this technology is nascent, meaning that the channel will face issues with transaction speed, the verification process and data limits.

Blockchain also faces challenges around gaining widespread adoption – particularly around financial institutions – until government regulation requirements around the technology become more apparent, as many currencies need to be regulated by national governments.

Because blockchain technology is new, applications will also require significant changes to existing systems, as well as a complete shift to a decentralized network, requiring the buy-in of users and operators.

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