How do Blockchain and Internet Of Things Match?

Presenter: Bob Peters

Blog: www.embedwise.com

Email: bob@embedwise.com

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Conclusion

• Have an idea about Blockchain

• How Blockchain can be used in combination with IoT • (Money) Transactions

• Smart contracts

• Challenges

• Benefits

• Discussion

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Introduction

• Bob Peters • Embedded System Enthusiast • Master in Embedded Systems (TUe)

• Internet of Things

• bRemote Beehive monitoring system, www.bRemote.eu

• Embedded system/software development (Consultant)

• Blog: www.embedwise.com • Email: bob@embedwise.com

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Blockchain – A short introduction

• https://www.youtube.com/watch?v=WiRFuHXHBhk [2:07]

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What is Blockchain?

• Blockchain • Ledger

• Consensus algorithm

• Means to perform changes on the ledger

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The chain of transactions

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Reference: Satoshi Nakamoto (2008), Bitcoin: A Peer-to-Peer Electronic Cash System, 2008

Consensus System

• Double spent problem

• Proof-of-work consensus

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Transactions / Smart contracts

• Register transactions and contracts

• Automated contract enforcement

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Applications blockchain

• Currency: Bitcoin

• Payment systems: Bitpay

• Digital Assets Nasdaq

• Identity: Blockstack (formerly known as Onename)

• Verifiable Data: Proof of Existence

• Smart contracts: Ethereum

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Blockchain and Internet of Things

• Logistic chain condition monitoring

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Reference: http://www.ibm.com/internet-of-things/iot-news/announcements/private-blockchain/

Blockchain and Internet of Things cont’d

• A car as a service

• Electricity network (Smart City)

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Challenges

• Number of transactions • Proposed workarounds are tested

• Processing power / energy consumption

• Change in thinking about business models

• Cost development upfront

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Benefits

• Remove third party

• Transparency and immutability

• Faster transactions

• Lower transaction costs

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Conclusion

• Have an idea about Blockchain

• How Blockchain can be used in combination with IoT • (Money) Transactions

• Smart contracts

• Challenges

• Benefits

• Discussion

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Discussion / Questions?

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• Which business cases can you think of?

• Is blockchain technology something for you?

• What positive / negative aspects do you see?

Thank you

Presenter: Bob Peters

Blog: www.embedwise.com

Email: bob@embedwise.com

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Sources

• https://bitcoin.org/en/bitcoin-paper

• developer.ibm.com/tv/convergence-iot-blockchain/

• dataconomy.com/wtf-is-the-blockchain-a-guide-for-total-beginners/

• https://en.bitcoin.it/wiki/Weaknesses

• https://techcrunch.com/2016/06/28/decentralizing-iot-networks-through-blockchain

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