Vertical applications of blockchain IoT

The security flaw of the Internet of Things lies in the lack of a mechanism for mutual trust between devices. All devices need to be checked with the data of the Internet of Things center. Once the database collapses, it will cause great damage to the entire Internet of Things. The distributed network structure of the blockchain allows devices to maintain a consensus without verification with the center, so that even if one or more nodes are compromised, the data of the overall network system is still reliable and safe.

The following describes the vertical applications of the blockchain Internet of Things: 1. Industrial manufacturing: The manufacturing cycle begins to enter a completely virtual world, including product development, customer demand monitoring, production, and inventory management. As equipment and systems become more intelligent and interactive, blockchain will also become a ledger at the factory, regional, and global supply chain level. So as to greatly reduce costs, strengthen just-in-time production (JIT), make better use of factory capacity, and improve operational efficiency; 2. Networked driverless cars: Networked cars turn vehicles into huge smart applications. Automobile automation has been strengthened year by year, including navigation and road rescue. Blockchain will use the digital network to track these devices to realize the automatic tracking of vehicle-to-vehicle communication and insurance clauses, vehicle annual inspections, etc.; 3. Transportation: There are many application scenarios in the vehicle network, which can transmit all traffic information and avoid traffic jams and other problems. Extending it to global trade, this transportation network can include water, air, and ground transportation networks to track cargo transportation; 4. Public technical facilities and smart cities: smart devices have been used to track the status of bridges, roads, power grids, etc. Blockchain can connect all of these together, share high efficiency, perform maintenance, predict usage and pollution, etc. Another important application is to help remote areas monitor natural disasters and prevent large-scale wildfires, diseases and insect pests and other major disasters; 5. Financial services and insurance: Banks can use blockchain to track IoT devices, such as ATMs, and maintain them. Insurance companies that have used drones for property insurance claims to determine damages in remote areas can use blockchain to verify and verify claims; 6. Home and commercial property management: use sensors in housing and commercial buildings to achieve smart home and office monitoring ; The use cases in the two fields are different, but the scope of application is large, and the basic functions of distributed ledgers can be integrated; 7. Smart contracts: Blockchain-based cryptocurrency can achieve two advanced business functions: one is cryptocurrency transfer, The other is the business rules that stipulate the time for dividends, especially in accordance with the terms of implementation. There is a huge application space on the terminal equipment of the Internet of Things. These rules are called "smart contracts" and apply to all these business areas. Business rules can be tracked and actions taken according to preset thresholds. For example, self-driving cars that do not pass the annual inspection must be turned off. If the owner does not pay the premium, a notice will be sent to the owner's housing association; 8. Retail: Retailers have used IoT devices and terminals in the business cycle. Including store floor, tracking store delivery, understanding customer transportation, wearable devices, etc. Networked storefronts add shelves to the Internet of Things, which can reduce inventory time. Blockchain can strengthen all use cases, realize important connections between retailers and consumers, and use automation to remove middlemen, whether it is a card issuer or a central server. For example, consumers can store product information and dimensions in the blockchain, and retailers can safely and directly obtain relevant data. Blockchain technology can provide point-to-point direct interconnection for the Internet of Things to transmit data, rather than through the central processing unit, so that distributed computing can process hundreds of millions of transactions. At the same time, it can also make full use of the computing power, storage capacity and bandwidth of hundreds of millions of idle devices distributed in different locations for transaction processing, greatly reducing the cost of calculation and storage.