Big data, IoT (Internet of Things) and Blockchain together are called the trifecta of information technology. You may have the knowledge of all three of them separately, but when they are combined into a single system, they could form a highly secure predictive practice. They can provide a platform for expansion due to their individual strengths.
The question is how can we merge all these technologies into a single unit? IoT is the largest generator of data. All devices generate fresh data on a regular basis and these devices could be dozens in number or even higher. When it comes to determining which metrics to follow and which metrics can be safely ignored, this is where the role of data scientists comes into play. Big data is highly useful in providing insight for a business and that makes IoT a natural partner of big data. IoT collects the data and Big Data turns that data into actionable information.
There was a time when someone’s words were all you had to trust them. But with blockchain, you can make it over a mathematically based calculation. DLT (Distributed Ledger Technology) has removed flat currency and brought in something more trustworthy. The idea of trust now does not depend on an individual organization, it is rather associated with a network of people. If you are using blockchain, each individual is known as a unit and they know everything about the blockchain. To tamper with blockchain, one would need to edit at least half of the active nodes on the network and that too simultaneously. Since more and more people are now adopting blockchain, tampering has become harder.
Know more about IOt attacks from here.
Blockchain can be compared to a distributed database where all peopling using this database know all the contents. Everyone receives updates when new entries are added. It offers a unique method of keeping your data secure. It also automatically verifies the data to be sure it is not tampered. Why not apply this technology to all the data we have been collecting by using IoT devices?
Big data and IoT have been facing issues when it comes to security. IoT devices are simple and small. It’s easy to come up with a spoofing methodology for coping the key of the login to extract all the big data collection from a database. A criminal can easily get access to the backdoor entry into the data. He can change the content and no one will even be aware of it. Although the security in IoT devices is improving, storing the data in a central location has some flaws. It’s easy to break into a server and use the IoT device to steal the data collected. The criminals can even give away that data to a third party for free. A company using IoT devices may be completely unaware of this data tampering.
The good news is with blockchain, this problem can be fixed. It’s always consistent across all the nodes in use. All you need is to introduce some distributed databases for storing data collected from the IoT devices. In case any one of the databases is compromised, the rest of them would still be able to interact and the system won’t have to be taken down.
Big data, IoT and blockchain have a bright future together. With time, we will be able to understand how the three of these could be put to a better use.