Greetings friends, I'm really happy to participate in this seasons cryptoacademy lectures. I wish also appreciate the credibility and consistency of the steemitblog system during the last session. Moreso I wish to appreciate professor @yohan2on for this week's incredible lecture which has given me a great opportunity for researching into gaining a more in-depth knowledge of IOT and the Blockchain simultaneously, thanks and here is my take on your question sir.

Explain why the future Internet of Things depends on Blockchain.

Source

The normenclature internet of things was first coined and used by Kelvin Ashton, a British Technologist, in 1999 while working with Procter and Gamble a company based at Cincinnati Ohio in the United States.

The internet of things is actually a place where different information, research and references can be confidentially disposed and obtained. But most times, the credentials and data are vulnerably disposed to hacking, misappropriation and impostering etc, due to the fact that internet of things is a system that operates on centralized platforms.

SOME PROBLEMS IDENTIFIED IOT: Now let's investigate into some of the disadvantages of IOT although not limited to these alone.

1- PRONE TO HACKERS:

This is actually the major disturtion faced in IOT. We know that cyber criminals aren't going to any installed houses of IOT to open and steal any tangible data rather they do this using certain malwares to disrupt the fluency of IOT on different platforms given to the fact that these platforms are centralized and does not operate in blockchain technology and moreso certain of their security system softwares runs on default functions which can easily be altered by most professional hackers.

2- FLEXIBILITY AND DUPLICATION OF DATA:

Most data on IOT are alterable and highly flexible and can also be duplicated given to the fact that they are enlisted on centralized platforms where their owners can easily manipulate or probably they are altered given to system update but on the contrary this would not have been possible if these data are confirmed on blockchain technology.

3- LACK OF DEVELOPERS COMPETENCY:

We all know that the IOT is a place where there is room and possibly and also the availability of buying and selling and some other things so innumerable.
Many developers are expected to be on their nerves while attending to customers because of the competitive nature of the market, but on the other hand, most of them aren't competitive enough due to lack of professionalism and this has retrenched them of their customers. for instance you ask a web developer to host your website within a limited time frame probably for your business and he couldn't meet-up with the limited-time as agreed this will cause that developer his customer which could be as a result of his unprofessionalism, so lack of competency is also a problem of IOT but on the contrary if it were to be in a decentralized blockchain, it would have been easier because you will be the one to promote what ever you have.

4- ACCURACY:

Certain data provided by most platforms are not without fault since most of them doesn't have first hand information about them and also given to the fact that the IOT is centralized. for instance we may be disposed to the information that the world's population is approximately 7.8 billion people which is an information obtainable in the IOT but how sure are we when most developing nation's does not have accurate data about their population but if the IOT works on a decentralized blockchain where everyone has the opportunity to input his personal profile and likewise that of his family, we may be coming to a more accurate count. So this is also a problem spotted in the IOT.

To mitigate against these and more especially against "hackers" and alteration or duplication of data amongst others is the driving force why the future of IOT should be anchored on blockchain technology because it has a greater potential to offer than its centralized and off-chain nature. Now let's see some of the reasons below:

1- TO MITIGATE AGAINST LOW RATE OF TRANSACTION:

we know that smart contracts are performed on blockchain which helps it in automatically authenticating transactions, so merging this with IOT will actually expedite the rate at which transactions are authenticated on IOT and also help users in managing their data.

2- TO PREVENT THE ALTERATION OF DATA:

Loss of data and it's alteration has posed a great challenge to IOT because it is not built on blockchain and hence most of its data are altered after perfoming transactions. On the contrary if the IOT is streamlined on the blockchain, it will definitely skunk the alteration of data.

3- ENHANCEMENT OF SECURITY MEASURES:

we know that this has been one of the core upheavals in IOT, as cyber crimes increases day after day and many security measures that were put in place by different experts has fallen to their counter professional hackers and most of their security strategies proved abortive because of the centralized nature of IOT. But if the IOT is perhaps given to the decentralized blockchain, it will definitely put an end to this since everyone now turns to the keeper of his gate by prudently handling his private keys against falling pray to hackers.

4- ENHANCING SCALABILITY:

scalability which is the ability of a system to to either increase or decrease in it's function when their is a change in its work demand or workability, this is actually a problem that is greatly felt by IOT because of its centralized nature in that most IOT does not have a very strong bandwidth which now poses the problem when cumbered with the issue of scalability and most system slows down given the issue of scalability, but if the IOT is actually activated to function in the decentralized blockchain where their is the functionality of smart contract and every node functions distinctly although work done in one node is also transmitted to every other node in the blockchain system hence this will actually solve the problem of scalability.

5- MITIGATE AGAINST INACCURACY AND DOUBLE COUNTING OF DATA:

We know that the IOT is driven by individuals while most people uses bots which is also liable to make mistake since they are programmed to function in a precise measure. On the other hand, since IOT is centralized, it gives the possibility that mistakes like; inaccuracy and double counting is inevitable.
Nevertheless, if IOT is decentralized on blockchain technology where there is stability and accuracy of data, this is actually a proof that blockchain technology is the future of IOT as it will enhance it's accuracy.

2 - Research and create content on the following IoT Blockchain use case.

Filament

FILAMENT:

This has an exquisite function of IoT blockchain that we have been majoring on.
Filament is a company that was founded in 2012 in the U.S having Allison Clift-Jennings as the CEO.
This company has the backup of high profiling dignitaries like: Digital Crypto group, Samsung NEXT etc. Nevertheless, it compounds of blockchain system for Filament company and also industrial IoT as it uses the Ethereum based technology and has it membership with the EEA (Enterprise Ethereum Alliance).

and according to Allison is credited that their key support goes for ethereum and hyper ledger fabric which gives many enterprises and people the choice of transacting using the Ethereum ledge.

Filament provides blockchain technology tools for enterprises and corporations which helps them to process and record transactions from IoT gadgets, secure Radio Frequency Identification tag, vehicles and many other connected devices, we can also identify their service in the communication, business and automotive industry where they are performing excellently well.

FILAMENT AREAS OF ENGAGEMENT

AUTONOMOUS VEHICLE:

They have gained control control into self or autonomous driven vehicles or cars with the aid of IoT and blockchain technology.

MICROCHIP:

This company has also succeeded in building a micro chips that aids a safe storage of information and data which can be fitted in any device through the help of IoT and blockchain.

DEVELOPERS KIT:

This company (Filament) has influenced the IoT through the provision of development kit to internet developers with the help of blockchain technology.

BLOCKLET USB :

Filament has also succeeded in producing USB hardware that supports IoT and blockchain technology which users can insert in any device supporting USB as to access and obtain data or information on blockchain.

Source

Let's navigate a little further into IoT Blockchain merging efficiency.

We know that IOT is the inter connectivity of systems that transfers data and other related softwares using a wireless network spanning within any possible bandwith from sensor to a central cloud server. Nevertheless the IOT has diverse issues that tries to mitigate it's credibility in business like: security, scalability, compatibility, flexibility and easy alteration of data etc. and it is against this that the need for merging the both of them arises as the blockchain has a more assuring and confidential means of functionality as compared to when the IOT functions alone.

Now on the other hand, the blockchain is a shared ledger used in streamlining or recording transactions, monitoring of assets and building confidence in business of which if given to operate with the IOT will enhance the credibility and also increase the usefulness of the blockchain on the other hand.

Let's see on how the compatibility or merging of these two variables are effected.

Since the IOT helps in sending data across different devices that are connected to the internet, when data are sent using the IOT, the blockchain on the other hand will enable the consistency and inextinguishable and immutable mode of the data so far it is sent using the same network like trc network to trc network or Bep to Bep network needless of any central control thereby giving confidence to businesses and transactions.

SOME BENEFIT OF IOT AND BLOCKCHAIN

1- RELIABILITY OF SECURITY:

Using the Watson IOT for instance, you can choose the data you wish to analyze, manage or even customized among varieties of your business partners or clients with an assured level of security.

2- IT BUILDS CONFIDENCE IN TRANSACTIONS.

Since your authenticated transactions of IOT is fixated on the blockchain, it gives a whole measure of confidence in any transaction without the need for further investigation, as the addition of any information or data as a block on the blockchain is broadcasted to every node in the ecosystem.

3- CREATES NEW BUSINESS VALUES AND EFFICIENCIES:

The blockchain creates, processes and enhances business values by the utilization of data from IOT, thereby positing a more accurate information as transacted in the blockchain which could not have been possible using the IOT alone.

4- MAINTENANCE OF PRIVACY:

Normally the IOT broadcast every bit of information to the public if one navigates to take a clue of the events in the internet but the case of blockchain is a different ball game as it offers a better degree of privacy and security to it users and the combination of both will enhance a more exquisite and prolific business environment for all like the case of filament and other anonymous companies that executes similar function.

THE APPLICATION OF IOT AND BLOCKCHAIN IN THE TRANSPORT INDUSTRY:

Let's draw an inference using the transport industry. Let's assume that I want to travel from Nigeria to any where and there is the need to book my ticket without my presence in that transport company, I'll use the IOT in booking my ticket while it will be immutable and authenticated in that industry's node as well as mine that is using the blockchain. So my ticket will be confirmed both my seat reservation and takeoff date will be sent to me through IOT as the transaction is also confirmed on the blockchain, giving me a pretty feel of confidence even without being there.

APPLICATION OF IOT AND BLOCKCHAIN IN THE POWER SECTOR:
This also applies in the power sector of the industry if our prepaid meters can function in the blockchain, it will also give a more confident to users as the rate of power consumption is immutably fixed on the blockchain thereby boosting the confidentially of data supplied using the IOT and so many areas of applicability of the IOT and Blockchain technology. Still on this regard let's assume that I made a transaction using the IOT and with a corresponding network while it's being streamlined on the Blockchain this will thereby enhance and optimize the credibility and confidentially of transaction in this sector. and so many other facets.

CONCLUSION

Finally the IoT as an invention has a good potentials where different information and data can be sort and businesses carried out. Nevertheless, this system also is not without many bottlenecks of which security is the apex of it and this has greatly posed a great threat to the business world. Over the years developers and researchers has sort for means of solving this delinquency and finally the solution is the merging of IOT with the Blockchain which is a fact that can't be extinguished.

The merging of IOT and the Blockchain chain has brought and will continuously effect tremendous change in the phase of businesses as it will take into extinction security issues, privacy issues, transparency issues, consistency of data issues amongst others as to proficiently enhance the contemporary business phase of industries and individuals like the case of Filament that has given us a first hand functionality of IoT Blockchain, thanks.

Thanks for patiently going through my work.

CC: @yohan2on