We’re on the brink of a revolutionary new ‘machine-to-machine’ (M2M) economy, in which an IoT comprised of autonomous vehicles, drones, robots, and decentralized organizations will utilize blockchain technology and self-executing (smart) contracts to transact and distribute micropayments without the need for human involvement. But how many financial institutions are actually working on an IoT strategy for connecting M2M transactions to the physical world, in order to prepare for this new customer segment of machines?
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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