Blockchain has grabbed the attention of the heavily regulated power industry as it braces for an energy revolution in which both utilities and consumers will produce and sell electricity. Blockchain could offer a reliable, low-cost way for financial and operational transactions to be recorded and validated across a distributed network with no central point of authority.
Up Next in Blockchain
A future with autonomous vehicles is fast approaching, and with it, the idea that blockchain technology could connect automobiles and other Internet-of-Things (IoT) devices is getting its fair share of attention.
Blockchain Could Move Self-Driving Cars Into the Fast Lane
With autonomous cars on the horizon, blockchain startups are eagerly building IoT systems for the fledgling industry.
Four areas where blockchain technology aligns well with the Internet of Things: (1) supply-chain management; (2) devices that sell capacity or other services to other devices; (3) devices that sell sharing-economy services to humans; and (4) devices that sell or share data with other devices or third parties.
The Internet of Things and Blockchain Technology