Background

Internet of things is the connectivity of many hardware on the internet. It's built on the ideology that one day just everything will be digitalized or hosted on the internet. IoT will also lay a good foundation for the adoption of machines to carry out everyday activities. This proposed future evolution will not just happen without it own challenges as we already know that the conventional internet system has its peculiar weaknesses which could be make up or strengthen with blockchain technology.

The following are the role blockchain technology can play in the smooth excursion of internet of things;

1.It will improve the security of the cloud based applications: cloud based applications that mirror the interconnectivity of that internet of things poltrys has alot of security issues which ranges from authentication issues, password theft, hacking of stored information, single point failure and node corruption etc. Most of these security breaches will be addressed by blockchain technology through the encryption of data,

2.As internet of things gain more adoption there we will also be need for more transparency: individual likes to monitor their transaction or easily access there records of transaction without needing to go through a third party. These is another weakness in internet of things that the transparency capabilities of blockchain technology will correct because every transaction is saved on the chain and it is easily accessible to all users without third party.

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3.Speed/Scalability: As everything get connected to the internet, speed will be a major need of clients. Blockchain technology is known for speed and it's ability to process large information within a very short time. This will make internet of things seemless, and easy to adopt especially in the banking industry.

4.Reduce cost of transactions: the decentralised nature of blockchain technology helps to reduce both work force and transactions cost. Because there is no middle men to either verify transaction or process transaction limit cost. Also the cost of maintaining a central operating system or based is also remove or reduced.

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