Blockchain technology is being tested in several industries. For IoT it could provide an infrastructure for direct, safe and secure transfers between devices, without the need for a centralized authority. No more server farms or networking equipment means cutting cost significantly when handling large quantities of IoT devices.
"IOTA is an open-source distributed ledger (cryptocurrency) focused on providing secure communications and payments between machines on the Internet of Things" (Wikipedia)
What does this mean and how can your company benefit from it?
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