Steemit Crypto Academy | Season 4, Week 1 : Homework for Professor @yohan2on- Blockchain Technology and the Internet of Things (IoT)

Increasing the usage of Blockchain technology in our daily lives is becoming popular. The world is gradually accepting and experiencing technological revolution. One of the best things we are all hoping to see is having the Blockchain endorsed in most of our daily activities. In this case we are sure of moving from the world of centralization to the world of decentralization where every individual would have full potential of controlling his/her business or actions or exploiting the world of technology. One of the newest products we are trying to have full usage is the future of Blockchain serving a good purpose for Internet of Things(IoT).

Before I will touch on the main questions, let me elaborate on how Internet of Things (IoT) and Blockchain are interconnected reference to how they support our daily lives.

Internet of Things (IoT) are interconnected networks which have been integrated in many devices we currently use in our daily lives. These devices can be doors to our homes, Air conditioners, refrigerators, watches, traffic lights, cars, watches mobile phones, Automated teller machine (ATM), X-ray machine and many devices we use in companies. These devices are embedded with a very important thing called sensors or software which is able to emit data, process and distribute to IoT platform network. The data is able to interpret and operate by IoT users similar to Peer - to - peer network.

Similar of IoT Technology is the use of data to assess machine in industries , correct data on manufacturing processing about the quality of goods using IoT sensors. The packaging and distributioin of the products have IoT sensors attached to them where by the receivers can check everything. There is chain of network to monitor where the goods pass without missing on it way or in the hands of thief to the retailers and to the final consumers.

Internet of Things (IoT) projects, have been expanded to door locks. This comes in different areas. It can be your personal use or offices of institutions for checking entries and exit of people, in the case of offices. The door uses sensors which the operater can use his smart phone which has similar sensors to lock and open the door. In this case, the mobile phone having the sensor operating the door can act like a remote control. This is very simple and one need not to worry in case you forget to close the door when you are at far distance.

Another area of IoT Technology is its operation in smart money transfer. This is another project IoT is making waves. The money transaction can be in your wrist watch which have the IoT sensor which one using the device can operate everything on his watch; make money transfer, receive money and calculate everything using data connectivity with another person using similar device. One can enter into super market and purchase goods similar to the use of credit cards. This invention with time will replace the use of mobile money networkfor transactions.

One can interpret that IoT works perfect in Human lives if Blockchain is fixed well in IoT delivery networks. Let us look at the clear meaning of blockchain and we can relate it to the IoT Technology.

Blockchain in simple terms is the Distributed ledger( open and public to the group of Blockchain users) containing interconnected blocks of data which are validated with hash code similar to our finger prints. Once the hash codes are opened and public to these blocks, it's difficult for one to temper or change. As long as one tempers the hash, it makes the hash code in the blocks invalid. When new blocks are created it has to validate by one block of computers and copy to other blocks on the network, this is what is termed as proof of work(Pow). Before one can alter the hash of the blockchain code he has to be successful in tempering all the hash on all blocks or about 50% of the blocks, which can't be possible. In terms of transaction of crypto such as Bitcoin using Blockchain, the Blockchain use peer to peer network without any third party or intermediary to agree on the transaction. This makes blockchain usage very simple, safer and convenient.

Having explained the main concepts of Internet of things (IoT) and Blockchain, one would agree that the IoT Technology can function well if they are being empowered with Blockchain Technology. The main reasons can be viewed as follows:

The use of the hash code which act as finger prints in building Blockchain makes Blockchain devices very unique and difficult to be changed or duped by someone. I believe if Blockchain hash codes are embedded in the IoT device it will increase the validity or authenticity of the devices. Considering IoT project like smart transfer as I illustrated, if Blockchain Technology of transaction is built in the watch that uses IoT sensors for transaction in case the IoT device damage, the hash codes or the keys use for transactions can still be used on new machine. This idea of fusing blockchain into IoT Technology operations will help IoT devices more effective in their usage.

The concept of IoT Technology in some fields like transport systems and manufacturing companies, there are coordination of Communication of how goods are checked right from the manufacturing point, processing, packaging and retailing. With all these points attached to IoT sensors to communicate and see to it that the right thing is done. Messages are distributed in the IoT network and feedbacks given similar to Peer to Peer system in Blockchain. With the integration of blockchain in IoT, using peer to peer transactions would enhance security reasons. Hence the future IoT is based on blockchain Technology.

Decentralization is one of the the greatest asset that Blockchain holds keeping the individuals to operate without any centrally regulations. Having IoT devices operated using decentralized ideas are great way to let many people improve in the digitalization world. This is possible to happen while each peer has its own unique keys in the case of transactions which mitigate the third party influence. The future IoT Technology depends on Blockchain decentralization means that IoT devices usage from the sensor robotics, network, clouds and to the last stage which is application are all works of the Blockchain Technology. And going forward, each distributor of the IoT would be protected having the hash codes encrypted which is the unique code making the usage to be more secured.

The future economy should be more efficient, fast and simple to be able to meet human needs. Talking about the fast technology in today's digitalization, Blockchain cannot be left out. The Blockchain is able to validate new blocks on the Blockchain network within few minutes. It is more faster than human calculation. IoT devices and their operation would be fast and simple in their operation serving the purpose of Blockchain Technology. The fast and simple way delivery networks are sure of increasing productivity. For instant, in the manufacturing company, the goal of the company is to validate all the goods being processed at each point of delivery; making sure that everything is authentic. With the idea of blockchain integration with the sensors on IoT networks it would be able to valid all chain of operation till it reaches retailers. In as much as we have Blockchain moving fast means that we are improving the speed in its usage and therefore increasing scalability in the network. For Time we say is money, so more businesses which work with the idea of generating money fast prefer Technology that move very faster.

The last point I would want to touch in this future IoT Technology depends on Blockchain is the privacy Blockchain maintains. We ask, what defines the Blockchain privacy in the Blockchain network? This is very simple, though we say that blockchain is distributed ledger that uses hash code open and known to the Blockchain users, but in peer to peer network, private keys are generated for each peer on the Blockchain network very unique for others to see. It's kept with the user and not disclosed to anyone or third party. This makes the transaction of the user very confidential and many people love to keep their privacy in most of transaction they make to avoid hackers or theft. Integrating blockchain in IoT devices in the situations where a lot of home appliances have IoT sensors being operated by one person, it would be very good to be protected and secured from others knowing how they operate.

Filament is the Blockchain Technology that has integrated into IoT Technology to securely help the operational of industrial revolution of IoT. The Technology functions as distributing and interacting with machine to machine which has been encrypted with Distributed ledger in their hardware and software to validate the operations the core value of Blockchain.

With the Blocklet chip Filament Blockchain has designed to be used by enterprise and industries have Distributed ledger to communicate and interacts with all those industries and enterprises who join the network. This provide more cybersecurity enabling environment as we know how Blockchain stands out when it comes to security. On the other hand, the Filament Blockchain in IoT use case prevent any third party once the software is input in the machine to machine is able to do the transaction in the network.

The Technology in Filament is new and with the introduction of Blocklet chip is at the beta stage and more information would be shared lately.

One of the threat that I have identified as a researcher and student in this lesson is the inadequate security reasons of IoT. Once the users have many IoT devices such as smart door, fridges, televisions, smart money transfer watch and many devices that use these sensors at their disposal, it exposes them to cyberhackers.

We have learned that IoT have major operational components; that's, the sensor, the network, the clouds and the application. Each of these need skills or technical experts to operate before the IoT can function well. From the robotic sensor to the interconnected networks need human beings before it functions. I think this can be a limiting factor to the IoT operation by many people.

The IoT and Blockchain are different Technology altogether. For my opinion it needs great huge sum of money for developers to create new blocks or hash codes to merge the IoT devices to function. It would be cost involving especially when you want to integrate more applications of Blockchain on IoT devices being it for transaction purposes, transport purposes or manufacturing purposes. They are all cost effective.

Despite the challenges just adduced here, I think the future of IoT having its full utilization would depend on Blockchain Technology, more especially on security reasons, its speed and scalability to absorb more users. The world's digitalization is improving from centralized operation to decentralized operation, a situation where one person cannot visualize or influence others transaction detail, one of the authenticity and confidentiality of a person.

I see the Filament Blockchain in IoT Technology being fresh of it kind. The idea bringing Blockchain Technology into IoT to support build a consolidated base industrial IoT Technology. I believe we should embrace it and we are looking forward to experiencing more of it kinds in other fields which will also have more use case.