IBM believes blockchain is an "elegant solution" for Internet of Things – 99 …

It’s not news that IBM has been exploring Bitcoin’s technology and its applications. But the computer giant has now released a new report, which claims that the blockchain could be the much awaited solution for the logistical issues surrounding the evolution of the Internet of Things.

In a near future, our daily lives will exponentially interact with a “network of billions of intelligent devices,” IBM predicts. This means we will need a bigger and more powerful connection to support all these devices. The network that connects all dots is already being called Internet of Things.

“As a global electronics company, we [IBM] understand the issues facing the high-tech industry and the continuous transformation required to thrive. Across the industry, companies are turning their attention from smartphones and tablets to a new generation of connected devices that will transform not just the electronics industry, but many others.”

It’s already happening, as it’s not only our computers that are now conected to the Internet. Our phones, tablets, cars and even some house appliances – over a billion intelligent devices – already depend on a global connection to work. And history tells us that the only way for technology is up. However, more devices and new possibilities require a wider network that connects everyone and everything.

bitcoin blockchain ibm internet of things

“The expected proliferation of hundreds of billions more [devices]places us at the threshold of a transformation sweeping across the electronics industry and many others,” IBM says.

Following months of investigation, IBM believes Bitcoin’s “blockchain offers a very elegant solution” to the problems still surrounding the evolution of the Internet of Things. The company says “the dream of a smart, safe and efficient future is threatened by subscription fees, ubiquitous advertising and intrusive surveillance,” issues that could be solved by the integration of the blockchain. The claim is

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