Part 1: Advanced Crypto Review of Internet Of Things

What is the Internet-Of-Things?

The internet of things was a term coined by Kevin Ashton in 2000. Originally pushed as a project meant to create an RFID tracking system for Procter & Gamble the goal was to conceive a system that would allow sensors to produce cleaner data. “If we had computers that knew everything there was to know about things—using data they gathered without any help from us—we would be able to track and count everything, and greatly reduce waste, loss, and cost. We would know when things needed replacing, repairing or recalling, and whether they were fresh or past their best.” [source] While the original RFID system was a milestone in technology it's mostly known for opening up doors to allow further innovation. From Samsung fridges to GPS systems we interact and benefit from a large selection of electronic tracking methods. To put it simply any device that can be tracked in an automated electronic system is most likely defined as an Internet-Of-Things.

Fast Forward A Bit…

The year is 2017. We are at the pinnacle of an interconnected electronic cultural renaissance and George Orwell just shat his pants. In the new age of surveillance and convenience, we are all too familiar with the concept of Internet-Of-Things. Regardless of the political bias towards the growing demand for electronic connectivity, it has undeniably shaped our lives.

With blockchain technology becoming more recognized the crypto community tries to find ways to improve the environment and technology. Currently, one way the community wants to improve the environment is decentralizing external data sources. A smart contract needs an external data sources to gather data, not on the blockchain. A publisher can be a business, person, machine, etc. but the issue we have right now is that one single centralized point has the potential to provide flawed or malicious data. Even if a smart contract is set up flawless bad data can tell the contract to create flawed outcomes.

We aim at fixing this issue multiple ways and 3 companies I have researched that are currently working on this project. Although they have 3 different approaches in fixing this issue they all have an end goal in mind. I will be discussing these projects in detail going over research & development, team size, links, and other important information that will give the reader an educated perspective whether you’re an investor, future consumer, future data provider, tech geek, etc.