Problems facing IOT, and how blockchain, and specifically https://www.chainofthings.com/ can help
I was recently introduced to chain of things, and solar coin by a dear friend of mine. I have since fallen in love with both of these projects and wish to share what limited knowledge I have with anyone who desires to have it. You can find me in the #whaleshares discord. We also have a facebook group called blockchain and crypto - https://www.facebook.com/groups/blockchainnation/
*Taken directly from https://www.chainofthings.com
The problems:
IoT is facing a systemic issue of scaling but without sufficient device IDENTITY, SECURITY, or INTEROPERABILITY in mind;
a world of device data being collected from billions of devices raises information security and privacy concerns for individuals/corporations/governments;
the world is turning towards open-data initiatives but there is a lack of a uniform approach;
blockchain technology and IoT offers a new world of promise, but no-one is 100% clear on how it will offer benefits.
The missions:
Mission 1: Save IoT. Bitcoin is (thus far) 16 billion dollars of un-hackable money on the internet. Based on an open system that is 'permission-less' to the world, as such, it is also naturally interoperable. CoT will investigate whether the core technology behind bitcoin, blockchain/distributed ledger technology, can provide a more secure and interoperable fabric for the future of IoT.
Mission 2: Find the best use-cases for blockchain IoT combined. CoT is to investigate the best possible use-cases where blockchain and IoT combined can offer significant benefits to industry, governments, individuals. One such area may be data security or data markets controlled and monitored by immutable smart contract code or the standardization public data using blockchain.
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I recently attended an IoT meet-up and one of the issues that came up was how can blockchain technology assist in security and privacy, eager to see what you are doing in that space, Good Work @chivesz
www.acuitychain.com :D