Key Blockchain Knowledge
The ledger used in Blockchain is tamper-proof and cannot be manipulated by malicious actors because it doesn’t exist in any single location, and man-in-the-middle attacks cannot be staged because there is any single thread of communication that can be intercepted. Blockchain makes trustless, peer-to-peer messaging possible and has already proven its worth in the world of financial services through cryptocurrencies such as #Bitcoin, #Ethereum, etc. providing guaranteed peer-to-peer payment services without the need for third-party brokers, disrupting what we call #FinTech.
One of the most exciting capabilities of the Blockchain is the ability to maintain a duly decentralized, trusted ledger of all transactions occurring in a network. This capability is essential to enable the many compliancies and regulatory requirements of industrial IoT (IIoT) applications for example without the need to rely on a centralized model.
In summary, key benefits of using Blockchain technology in securing IoT can be abridged in three points: build trust, reduce costs and accelerate transactions.
The next challenge is there when there is need of a Blockchain Customer Service, an Auditor, or when for instance Tokens are stolen, through false addressing, or just verification of paid and, or received tokens on the blockchain.
We created the key principle KBC formula and are ready to help you.