IoT and Blockchain technologies are revolutionary in isolation. But what is holding back their inevitable convergence for industrial and commercial applications?
A technical challenge facing distributed ledger technology and IoT convergence, is the ability to scale to be able to match service and security requirements across a network of devices. These requirements aren’t just precautions; they are the essential foundation to running IoT. These days, the scalability of IoTs face immense challenges. Traditional data storage structures are unsustainable using distributed ledger technology. It is also untenable for vast networks of nodes to process every transaction.
Security remains a significant challenge in the design and deployment of shared architectures. Businesses face a variety of concerns in regards to protecting data, contracts, files, devices and networks, and also maintaining the privacy and authenticate the identity of users.
The ability to interconnect multiple networks in a secure and reliable way is a challenge for the IoT and blockchain realm. Complexities have been presented, such as the ability to integrate private and public blockchains, and existing data sets and systems.
Blockchain deployments will face hurdles in policy and legal questions, as designing regulations and compliance into transaction execution is not simple. The lack of concise monetary regulations and policy associated with digital or cryptocurrencies is one of the largest challenges in the industry.
How we help
Augmate are overcoming issues of security by protecting data and preventing unintended usage of devices. We monitor and manage a fleet of devices, data and usage to solve scalability, and conquer issues of integration by getting hardware and software systems to work together seamlessly.