Blockchain+IOT

Blockchain & IOT
Why Blockchain and IOT work together
Matthew@visualizeTheWeb.com | https://www.linkedin.com/in/matthewdavid/

What we will cover
• Executive Summary
• Blockchain Use Cases
• Why Blockchain
• Blockchain Mechanics
• IOT and Blockchain
• Networks/Protocols
• Tools
• So What?
• Summary

Executive Summary
A blockchain is shared, and distributed ledger
replicated to each node across a network. All parties in
the network can have access to the data in the
distributed ledger. Every update made to each entry is
recorded as an additional “block” and creates a chain
of records providing a complete, verifiable history.
Blockchains leverage strong encryption and are secure.

Why Blockchain: “From – To”
From To
There are too many security concerns that make it
difficult to share data
Each record is encrypted ensuring privacy
We do not always have a complete inventory of all the
changes for a record
A complete history of a record lives on a shared,
distributed ledger
Our Partners and Customers do not trust our
information
Trust is a byproduct due to the immutable nature of
entries in Blockchain
Details for records with partners is inconsistent All records are shared across a network using readily
available technologies

Blockchain Use Cases: The Problems
Banking: Lack of consumer trust
Supply Chain: There is a lack of visibility and accountability with the companies in the
supply chain
Health Care: Lack of information shared from provider to provider for personal
healthcare
Identity: Identity theft is rife

Blockchain Use Cases : How you can use
Blockchain
Banking: trust is a by product
Supply Chain: Validate the production and movement of products
Health Care: Tracking health, medication and personal care
Identity: Proving identity

Why Blockchain: History of Blockchain
2008
Financial Crash
Bitcoin Whitepaper written by Satoshi
Nakamoto
2009
Blockchain 1.0
Bitcoin released
2010
First product purchased with Bitcoin
One pizza for 10,000 coin
2014
Blockchain 2.0
Ethereum white paper released
detailing Turing Complete / World
Computer concept of improving
Smart Contracts
2015
Ethereum Released and developers
can now create Distributed Apps
2018
Blockchain 3.0
EOS addresses speed and other
problems with Bitcoin/Ethereum to
make DLT commercially viable for P2P
Dapps

Why Blockchain: What is Blockchain?
•Blockchain represents a foundation for the next significant stage of Internet Technologies
Web 3.0
•A Distributed, shared ledger (similar to a shared Excel Spreadsheet)
•Data changes are peer approved using ConsensusTransparent
•Smart Contracts
•Distributed Apps (Dapps)
•Supplement Blockchain with existing technologies (API, ML/AI and IoT)
Extendable
•Hash encryption
Secure
•A complete history of an asset is kept in the Blockchain
Self-Auditing

Blockchain
Eco System

Blockchain Mechanics: Smart
Contracts
• A Smart Contract receives and distributes
assets from seller to buyer. The Blockchain
records the transaction as a new entry. The
process can be automated, and ownership
is undisputed.
• Smart Contract completes a trusted, secure
and verifiable transaction almost instantly
without the need of 3rd party involvement
• Smart Contracts run business logic such as
automatic transactions
• The most popular language to write a
Smart Contract is Solidity
• The Blockchain records each transactions

Tools: IoT
• IoT Sensors to collect data
• Blockchain is designed as Edge Computing
• Enhance Smart Contracts with Machine Learning

Ethereum

IOTA

EOS

Tools: Frameworks
• Open Source is your friend (GitHub and GitLab)
• Azure Blockchain Workbench
• Linux Foundation Hyperledger Projects
• Notable: AWS has only recently started to fully
support Blockchain and Google Cloud is notably
absent

IOT &
Blockchain
Examples
Hyundai is backing IoT
blockchain startup HDAC
(Hyundai Digital Asset
Currency), which is building its
own private blockchain
designed specifically for IoT.
Filament’s Blocklet chip is to
let [IoT] sensor data be
coded directly into the
blockchain. Again, the goal is
to “provide a secure
foundation for decentralized
interaction and exchange.”

So what?
Build Trust
• Trust between parties
and devices
• Reduce risk of collusion
and tampering
1
Reduce Costs
• Eliminate
middlemen/auditors
2
Accelerate
Transactions
• Reduce Settlements
from days to near
instantaneous
3

Summary & Next Steps
• Blockchain & IOT sitting in a
tree…
• Speed of Innovation
• It is 1993

Blockchain+IOT

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