Blockchain-based structures for a secure and operate IoT

Abstract

The IoT presents opportunities in all industrial sectors and is integral to the future of goods and services. The IoT includes the old Internet, but is substantially different from the old Internet for at least one very simple reason: the devices at the periphery of the network are not operated by people. These devices may be semi-or fully automated. And they will vastly outnumber the human operated devices in a short period of time. Blockchain is the basis technology for crypto-currencies like Bitcoin. But Blockchain can have far larger applications in the IoT, because Blockchain is highly distributed and publically viewable system of sequentially linked cryptographically. This in turn means that the Blockchain can be used to build trusted connections without an intermediary. This paper presents a concept of application.