IBM Reveals Proof of Concept for Blockchain-Powered Internet of Things
IBM has unveiled its proof of concept for ADEPT, a system developed in partnership with Samsung that uses elements of bitcoin's underlying design to build a distributed network of devices - a decentralized Internet of Things. The ADEPT concept, or Autonomous Decentralized Peer-to-Peer Telemetry, taps blockchains to provide the backbone of the system, utilizing a mix of proof-of-work and proof-of-stake to secure transactions. IBM and Samsung chose three protocols - BitTorrent (file sharing), Ethereum (smart contracts) and TeleHash (peer-to-peer messaging) - to underpin the ADEPT concept.....
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It was just last month that IBM's plans for an "Internet of things" architecture that would feature Bitcoin blockchain technology were revealed. IBM's planned project, called Adept, utilizes three distinct technologies including the blockchain, TeleHash, and BitTorrent. IBM's head of mobile and internet Paul Brody is the "VP of the Internet of Things" and is in charge of the project. In a recent talk with Gigaom at their Structure Connect event in San Francisco, Brody further explained his vision for the Internet of Things and he emphasized that developers should welcome open-source....
Bitcoin and Internet of Things (IoT) are the two buzz words in the tech sphere at the moment. Bitcoin is something which we always keep talking about on this site. Internet of Things, not so much. But with the introduction of Bitcoin 2.0 and other upcoming alternatives like Ethereum, we will be forced to discuss about IoT soon. After all, the IoT will be made possible by Bitcoin technology in the coming days. What is Internet of Things? Internet of Things (IoT) is a concept where the objects and equipment area embedded with electronic sensors to create a network. These "smart" equipment....
Internet of Things is the next in-thing. All electronic device manufacturing companies are eyeing the segment. Intel, Samsung, Google... you name it and they are gradually making inroads into the segment. Intel especially already has a lot riding on it. The semiconductor company is working hard to be the first on to get there. Intel's sense of urgency to dominate the Internet of Things segment was evident in its recent keynote during annual Intel Developer Forum earlier this week when they displayed proof of concept robots that can be controlled with hand gestures. Some of the other....
Whenever a disruptive concept comes along, there are winners and losers. But things aren't so black-and-white with blockchain technology in the picture. A lot of people have been saying how the blockchain is much bigger than Bitcoin itself, and they are right for the most part. Even though the Bitcoin protocol is powered by blockchain technology, the capabilities of distributed ledgers are not just linked to the digital currency ecosystem. A recent report by Citi seems to be thinking along those same lines, although most of their use cases are still focused on the financial aspect. This....
HSBC and its partner, Bank of America’s Merrill Lynch, recently published a proof of concept to demonstrate how Blockchain-powered contracts can be used to replace paper letters of credit which are commonly used in international trade. R3 Consortium, on the other hand, completed two prototypes which demonstrate how distributed ledger technology can address the key challenges facing the USD 45 billion global trade finance industry. However, in separate interviews, when officials of both institutions spoke about the Blockchain technology, the key concept which permeated their conversations....