How Blockchain May Bring Greater Trust to IoT

How Blockchain May Bring Greater Trust to IoT

Potential ways blockchain can provide support to IoT networks include provisioning, usage tracing, and asset decommissioning.

Potential ways blockchain can provide support to IoT networks include provisioning, usage tracing, and asset decommissioning.

Blockchain — the most popular distributed ledger technology used to globally keep track of events and transactions — may be a good fit for the industrial internet of things. It enables usage tracing, logging service issues, and ensuring security.

That’s the gist of an analysis of the technology’s applicability to the industrial IoT, recently published by the Industrial Internet Consortium. Potential ways blockchain can provide support to these networks include provisioning, usage tracing, and asset decommissioning. Other common use cases for blockchain include device monitoring to log service-level agreement violations, edge autonomy to log fault protocols, and industrial IoT services such as odometer fraud protection.

See also: Blockchain for Master Data Management

While the technology is promising, IoT architects and administrators need to “consider the system’s performance and trustworthiness aspects as well as network reliability, bandwidth, and latency, as well as solution usage attributes,” the report’s authors caution.

They offer three design patterns by which blockchain over IoT can be deployed, based on the use of “wallets” that contain the public and private key pairs needed to create and access user data:

internet of things blockchain edgeiot industrial iot iot security

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