IDG Contributor Network: Why blockchain is the missing link to IoT transformations

IDG Contributor Network: Why blockchain is the missing link to IoT transformations

Mention blockchain to your average Joe, and odds are that it evokes notions of cryptocurrencies, like Bitcoin, and covert financial transactions. But in the enterprise world, blockchain is much more than an ultra-secure, digital financial ledger or another “over-hyped” new technology.

When combined with the Internet of Things (IoT), blockchain enables new value propositions and new business models, while solving transparency, complexity and security challenges in transactions involving multiple parties and large amounts of data, or records of value. In many ways, blockchain is the “missing link” that enables IoT deployments to achieve their full potential.

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