Cisco will use the blockchain in the future

Cisco’s Chief Strategy Officer, Hilton Romanski, provided insight into the Group’s future plans. Accordingly, one relies on takeovers and partnerships.

Cisco not only uses automation and artificial intelligence to secure its networks, but will also use blockchain in the future, as Chief Strategy Officer Hilton Romanski said on the sidelines of Cisco Live’s corporate conference. “The blockchain is a great opportunity, not only when it comes to digital currencies,” said the network strategist’s chief strategist in a press keynote.

“It’s about the possibility of integrating another level of trust in the network,” says Romanski. The Group is investing current “time and effort” in this direction. Official news will be available later this year.

Most recently, Cisco co-founded the Trusted IoT Alliance in September 2017. It is a consortium of 17 companies that want to create a protocol for a blockchain-based Internet of Things. The goal is to create an open standard for industries.

Security is at the center of all future developments, as Romanski explains. “There will be over 30 billion networked devices by 2020. Of course that also means more vulnerabilities. ”

Cisco itself wants to use different strategies when developing new products. In addition to the in-house development of new products, they also rely heavily on acquisitions. To date, the group has swallowed 203 companies. Romanski is particularly proud of the fact that more than 40 CEOs of the acquired companies have remained with Cisco to this day.