The global internet of Things (IoT) in the energy market will generate a revenue of $41.2 billion by 2027 as per a report by Research Dive.
The report also added that the significance of artificial intelligence(AI) in IoT in energy is boosting the global internet of things in energy market growth. With the rise in demand for IoT devices everywhere and also the global internet penetration expected to increase. Security will be a major concern. Blockchain is the only way such security concerns can be effectively put to rest.
But use of blockchains at such a large scale would mean choosing robust blockchains who can handle such environments.
This is exactly why new generation blockchains like Concordium are working and researching on providing the promise of blockchain for business.
With regulatory compliance by design, privacy and verification of users identity, identity management will become easy for IOT devices to interact with humans. Billions of devices would also mean the network needs to have fast transaction capabilities and high throughput at a global scale with Concordium is building.
Fast finality and easy to deploy smart contracts will give blockchains like Concordium an edge that will help bridge the needs of the IoT industry and the Blockchain Industry.
As years fly by technology will become more accessible to the masses as it gets cheaper. That also means an ubiquitous internet where billions of devices need to autonomously interact with each other.
There will be multiple devices that need to pay for various services and authentication, for all transactions to be hack proof the only solution seems to be a blockchain in pace so all transactions are safe and cryptographically secure.
We will live in a connected world.
The report also added that the significance of artificial intelligence(AI) in IoT in energy is boosting the global internet of things in energy market growth. With the rise in demand for IoT devices everywhere and also the global internet penetration expected to increase. Security will be a major concern. Blockchain is the only way such security concerns can be effectively put to rest.
But use of blockchains at such a large scale would mean choosing robust blockchains who can handle such environments.
This is exactly why new generation blockchains like Concordium are working and researching on providing the promise of blockchain for business.
With regulatory compliance by design, privacy and verification of users identity, identity management will become easy for IOT devices to interact with humans. Billions of devices would also mean the network needs to have fast transaction capabilities and high throughput at a global scale with Concordium is building.
Fast finality and easy to deploy smart contracts will give blockchains like Concordium an edge that will help bridge the needs of the IoT industry and the Blockchain Industry.
As years fly by technology will become more accessible to the masses as it gets cheaper. That also means an ubiquitous internet where billions of devices need to autonomously interact with each other.
There will be multiple devices that need to pay for various services and authentication, for all transactions to be hack proof the only solution seems to be a blockchain in pace so all transactions are safe and cryptographically secure.
We will live in a connected world.
