Using Blockchain To Secure The ‘Internet Of Things’

Internet of Things

Technology keeps revolutionizing the world, and over the years, there has been an increase in device connectivity. Some of these devices include streetlights, cameras and thermostats, amongst others. By 2017, it was estimated that close to 9 billion devices were connected. This trend keeps growing, and by 2030, the world is likely to host over 500 billion connected devices. Whether it is a temperature sensor in a robot or a voice-recognition personal assistant, most of the devices operate online; therefore, they are prone to cyber-attacks.

Global giants like Samsung, Microsoft, Apple, and Google have smart internet-connected devices. Since they have massive resources, they can easily fix their cyber security problems. These companies also have superior marketing incentives and technological systems compared to smaller companies. 

Major cyber disasters have occurred due to smaller companies’ compromises while creating their Internet of Things devices. For example, Dyn, an internet routing company, suffered a major cyberattack in October 2016. The consequence was that 80 popular websites in the US were crushed, causing a stall in internet traffic. The solution to these problems lies in the deliberate efforts to track and distribute software that can be updated using Blockchains.

Making Security a Priority

The biggest responsibility among technology companies is to keep their customers safe. This is not only a responsibility of technology companies but also any organization that offers services on the internet. Even banks and entertainment platforms such as online casinos have the responsibility to protect their online players. As a UK player, you also have to do your due diligence by checking reliable guides of the best online casinos. There are sites that allow you to play free slots without registering or downloading the games. Additionally, major providers such as NetEnt or WMS Slots provide the games. 

Luckily, big companies have a budget for remunerating their security analysts and researchers who stay vigilant on the site to fix any problems. The other duty they perform is to update programs and channel them to their clients, especially if the old programs pose the risk of access by third parties. Remember that these companies can connect their devices to those of the manufacturer so that some software can be installed and updated automatically. For example, Microsoft Word, PlayStations, and iPhones stay updated because their staff has invested in software that can respond to automated inquiries.

A Potential Answer

A Blockchain is a distributed, decentralised database that records and stores information in several places at once. Simply put, this is a public notice board that can post their transaction notices. For every post made, the owner must include a digital signature that is unchangeable. The need to have such a system in place has been supported by the likes of Foxconn, Bosch, and Gemalto, which are renowned companies in the engineering and electronics industry.

If Blockchain technology is embraced, smaller companies will have a tool to create and update their software just like big companies do. Basically, the small companies will have to design their products to comply with a Blockchain that can enable them to check if new updates are available. For them to have clear communication with the manufacturer, the companies will need to establish a reliable cryptographic identity. This technological advancement will guarantee the security of the devices being offered to the customers.

The Importance of External Pressure

Creating Blockchain-based systems to protect devices is not enough to solve the problem. If manufacturers are not willing to take up the systems and use them, all other users will not be safe. Small companies that manufacture cheap devices also make small profits. Thus, they require external support to add a layer of protection.

Therefore, consumer expectations and government policies can only influence their current practices. Since they do not have the financial capabilities to invest in safe infrastructure, big companies can offer them technological support. If consumers do not subscribe to their products, they will definitely step up their efforts to build safer devices.

IoT has a lot of potential to assist in our lives, controlling many things at once through an app. Nevertheless, security is vital as if some devices were hacked this might be very dangerous. Only time will tell if firms are able to use a technology like blockchain to secure IoT protocols. 

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