Cisco, Bosch, and several other companies have set up a consortium to work on how blockchain technology can be used to secure and improve Internet of Things (IoT) applications, as sectors beyond finance services seek to benefit from bitcoin’s underlying technology. The group, which also includes Bank of New York Mellon, Foxconn, security company Gemalto, and blockchain startups ConsenSys, BitSE and Chronicled announced that they will collaborate to develop a shared blockchain protocol for the IoT – the concept that everyday objects, from washing machines to shipping containers, will be connected to the Internet and be able to send and receive data.
Up Next in Blockchain
The U.S. Postal Service (USPS) is looking at blockchain technology as part of a system for establishing digital trust, newly published patent documents indicate. In 2016, a report from USPS suggested that the mail carrier could move to create its own cryptocurrency as well as use blockchain technology for supply chain applications, among other areas.
U.S. Postal Service Considers Blockchain Tech
Google is developing its own blockchain for third parties to post and verify transactions, in an effort to differentiate its cloud services from those of rivals Microsoft and Amazon. The cloud is a battleground right now, and tech giants are throwing all they have at it in order to win – AI will be a huge part of that, but blockchain tech could provide an edge.
Google Hopes Blockchain Will Help it Win the Cloud War
MIT Technology Review