Top Internet of Things Daily & Weekly

Setting the standard for a blockchain protocol for IoT

  • A wide range of blockchain technology companies and enterprises like Cisco, Gemalto and Bosch have launched the Trusted IoT Alliance, an initiative that aims to bring companies together to develop and set the standard for an open source blockchain protocol to support IoT technology in major industries worldwide.
  • Blockchain, and more specifically the suite of complex decentralized protocols and the emergence of more efficient cryptography, can be used to provide a solid foundation for data and device integrity in complex multi-stakeholder environments,” says Anoop Nannra, Trusted IoT Alliance Board Member and Cisco Head of Blockchain Initiative.
  • The goal of the Alliance is the creation of a trusted IoT ecosystem that links cryptographic and registrant identities, along with metadata, to give objects the equivalent of digital, transferable “birth certificates,” that can be inventoried and managed across blockchain networks.
  • The Trusted IoT Alliance is directly addressing this challenge by developing a multi-party test network specifically designed to give confidence to businesses looking to use blockchain to underpin their IoT security,” noted Joe Pindar, Trusted IoT Alliance Board Member and Gemalto Director of Strategy and CTO.
  • The resilience of IoT networks is strengthened in the face of device failures and they are more resistant from attacks through distributing the security, accuracy and availability of IoT data with blockchain and through using blockchain based smart contracts to store business logic.”

The Trusted IoT Alliance aims to bring companies together to develop and set the standard for an open source blockchain protocol to support IoT technology.

A wide range of blockchain technology companies and enterprises like Cisco, Gemalto and Bosch have launched the Trusted IoT Alliance, an initiative that aims to bring companies together to develop and set the standard for an open source blockchain protocol to support IoT technology in major industries worldwide.

“No doubt, the volume of data exchanged between devices will grow dramatically as IoT device deployments continue to expand. We are already seeing the emergence of M2M data management platforms trying to get ahead of this explosive growth. Blockchain, and more specifically the suite of complex decentralized protocols and the emergence of more efficient cryptography, can be used to provide a solid foundation for data and device integrity in complex multi-stakeholder environments,” says Anoop Nannra, Trusted IoT Alliance Board Member and Cisco Head of Blockchain Initiative.

“In parallel, we will see a new breed of operations personnel, developers, IT architects, and line of business owners emerging over the next several years as the inherent security properties of blockchain technology are better understood, adopted, and evolved. We believe, the ability to create smart contracts will further advance automation of complex systems while at the same time providing a degree of transparency and end to end data and infrastructure visibility that has eluded many practitioners in information security. It is this unquestionable visibility and smart contract automation, supported by the network effect of blockchain, that can really have a positive impact on the advancement of information security.”

Setting the standard for a blockchain protocol for IoT