Probably most known as the enabler for cryptocurrencies such as Bitcoin, blockchain technology is now making its way into IoT. Blocks of data are being stored across networks (chains) in an encrypted form. The fact that the data is decentralized and distributed, it is almost impossible to alter or tamper with. This makes it interesting for companies dealing with IoT implementations that are heavily dependent on data integrity. Danish shipping giant Maersk has taken a leading position and is now implementing blockchain technology for its sea freights.
Blockchain is estimated to save billions of dollars in the shipping industry by helping to manage and track tens of millions of shipping containers across the world (Behind Bitcoin’s Glory, Blockchain Promises Business Benefits, Direct Industry 2017).
So far, the implementation of blockchain technology in embedded applications is at its infancy stage, but we can be sure to see exciting new implementations in the future. The sky, or rather the global data processing capability, is the limit.