Blockchain technology, originally created for digital currencies, is the solution to ensure the secure adoption of the internet of things (IoT), according to Amit Sharma, CNBC and digital head of Indian IT firm Tech Mahindra. Data protection issues will have to be overcome as IoT adoption becomes more widespread, and the cryptographic algorithms deployed in blockchains will be used to protect consumer data, said Sharma. Prototypes for the merging of the technologies are already being developed, and it will only be a matter of months before the hybrid technology is commercially available, Sharma believes.
Blockchain technology, originally created for digital currencies, is the solution to ensure the secure adoption of the internet of things (IoT), according to Amit Sharma, VP and digital head of Indian IT firm Tech Mahindra. Data protection issues will have to be overcome as IoT adoption becomes more widespread, and the cryptographic algorithms deployed in blockchains will be used to protect consumer data, said Sharma. Prototypes for the merging of the technologies are already being developed, and it will only be a matter of months before the hybrid technology is commercially available, Sharma believes.