Internet of Things (connected devices) are the future and are touching every aspect of our lives, be it healthcare, transport or the smart home systems. These devices, which are connected to the Internet, function by gathering data (understanding your needs and behavior) and talking with each other. But according to a report by Cisco, IoT device hacks have become a dangerous reality.
Due to the sensitive nature of data collected, many see blockchain technology as the logical option to help with security. Indian blockchain services startup, KrypC is also counting on this sentiment as its latest initiative is to help intelligent machines talk securely with each other using the blockchain platform.
The startup is in the process of developing a blockchain protocol for IoT devices. Which means that in the future when a drone comes to deliver your package, this solution could possibly make it hard for someone to hack it and steal the goodies for themselves.
Speaking to Inc42, KrypC’s founder and CEO Ravi Jagannathan states that one of the most important trends going forward is going to be the security of IoT devices and hence, blockchain technology presents itself as a right solution. Cognizant And Indian Insurers Jointly Develop Blockchain Solution For Secure Data Sharing Maharashtra To Roll Out Blockchain-Based Pilot Projects To Ramp Up E-Governance Transparency How Adoption Of Blockchain Technology Will Disrupt Agriculture “Our primary goal has been doing the research and making it a reality and we think about how this technology can be brought to normal adoption,” Ravi says.
Ravi: “The company is through with the internal research (on IoT solution) and is expecting to release the beta version by end of this year.” KrypC aims at attracting enterprises which are looking to adopt blockchain technology in their processes to help them increase their efficiency and transparency. In short: it seeks to provide custom-built blockchain solutions for business specific needs with “zero” coding effort. Read more from inc42.com…
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