Can the Internet of Things + blockchain “chain” moving capital? Agriculture, finance, industry, medical, people's livelihood and other application scenarios, who will become the next breaking point of blockchain technology?
On December 4th, the theme salon of "Internet of Things + Blockchain Intelligent Integration in Business Scenarios" hosted by the Internet of Things Think Tank was held in Beijing. Several guests from Xintongyuan, Ant Financial, Molian Technology, IOTA, and DU Capital discussed the combination of blockchain and Internet of Things technology from different dimensions. At the meeting, Peng Zhao, the founder of the Internet of Things think tank, released and interpreted the "Internet Market Research Report" (hereinafter referred to as the "Report").
"Report" mainly contains 5 sections, this article takes everyone to quickly read the core points.
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The Internet of Things is a network that is based on the Internet and extends to information exchange and communication between things. According to data from Machina Research, the scale of global market connections will reach 150 billion by 2020, the number of connections in the Chinese market is expected to exceed 10 billion, and the Internet of Things applications have entered a period of rapid growth.
The Internet of Things industry has huge potential, but with development, problems have also emerged. The Internet of Things currently has some pain points such as device security, personal privacy, rigid architecture, multi-agent collaboration, communication compatibility, and data value:
The first is that the IoT malware Miral launches a DDOS attack with the IOT device as the target of infection, forming a botnet, affecting well-known websites such as Twitter and Reddit, and causing bad effects; the second is that the central server administrator may use it without authorization The private data it stores and forwards, such as Chengdu ’s 266 surveillance cameras times the “live” event. Third, the current industrial Internet architecture uses a centralized service model. With the growth of equipment, the cost of centralized services is difficult to bear.
Fourth, the current industrial Internet is self-organized by manufacturers and operators, which involves high cost of establishing credit when inter-subject and multiple peers cooperate; fifth, the industrial Internet lacks a unified platform and language, and communication efficiency is low; Sixth , the core value of the Internet of Things lies in the capture and analysis of device sensor data, but research has found that only 2% of the data generated by machine equipment is analyzed and utilized.
In this context, the "Internet of Things Network" emerged at the historic moment, that is, the "Internet of Things + Blockchain". Blockchain technology's immutable, secure, traceable, zero-knowledge proof technology can provide a decentralized solution for large-scale collaboration between devices, and address the technical needs that need to be addressed in the development of the Internet of Things. The decentralization of the Internet of Things terminal equipment undoubtedly provides the best space for decentralization.
Peng Shao, founder of IoT think tank, said:
"As a combination of the Internet of Things and the blockchain, the Internet of Things is a powerful tool for IoT companies to use the blockchain to achieve value conversion. The blockchain can help the Internet of Things reduce operating costs, solve security and privacy issues, and tap business value . "
So what scenarios can "Internet of Things" be used for? The report listed eight scenarios of industry, healthcare, sharing economy, cyber security, supply chain, environmental protection, energy trading, and agricultural production. Specifically, it refers to data sharing and flexible supervision in industrial production, data management and transactions in health care, verification of hardware identity in network security, logistics monitoring in the supply chain, product tracing, port management, and so on.
Let's use a few specific cases to illustrate the tangible benefits these two technologies bring to the industry:
(1) Insurance . Maersk uses the blockchain platform Insurwave for maritime insurance. This platform was developed by EY and Guardtime and uses Microsoft's cloud platform Azure's distributed ledger technology. In its first year with Insurwave, Maersk managed 1,000 ships through the platform and supported more than 500,000 digital ledger transactions.
(2) Logistics . HNA's intelligent cloud box uses the blockchain to realize the "four-flow integration" of cargo flow, logistics, capital flow and information flow. The application of the HNA intelligent cloud box system after the blockchain greatly reduces the number of containers in the warehouse Time and save 30% on transportation costs.
(3) Energy field . Sinochem Group ’s gasoline export business from Quanzhou to Singapore has successfully completed the pilot of export transactions for blockchain applications. The participants include Quanzhou Petrochemical and Petroleum Company, Xiamen Customs, China Inspection Group, HSBC, and shipowners, Digital bills of lading and smart contracts such as freight forwarding companies can improve the efficiency of crude oil transaction execution and optimize transaction financing costs by 20% to 30%. In addition, according to Bloomberg News, Sinochem Group and China National Petroleum Corporation and other eight Chinese and foreign companies formed a consortium to raise 15 million US dollars to build a blockchain platform to support oil trade.
In addition, these scenarios shown in the figure above have also been well applied. We can see that IBM, Korea Hyundai, Samsung, OSlsoft and other large companies have invested manpower and material resources in promoting this application.
The report concludes with a summary of the current status of the combination of blockchain and IoT:
The first is that the blockchain provides a new business model for the Internet of Things, including blockchain verification of personal data collected by IoT devices, building data viewing and transaction rights for users, and creating "wallets for IoT devices" "To create an instant payment network between machines.
Second, the industry is still in its early stages of development and the market opportunities are huge. There are dozens of blockchain projects in the Internet of Things field, but the total scale is less than 10 billion. As "Internet of Things devices have identities and wallets" has become the new standard, the integration of blockchain and Internet of Things technology forms mature solutions in many fields, and there will be huge space for the entire industry.
The third is some resistance. In terms of technology, blockchain involves technologies in multiple fields such as P2P networks, distributed storage, cryptography, and game theory. There are still many areas for improvement in the underlying technology. In terms of business, it is necessary to build a higher level that meets the corresponding business scenarios. Consensus system, otherwise the enterprise will run well in the existing system, and there will be no motivation for new product development without business needs; in terms of policies, there is no adapted long-term supervision mechanism and the lack of monitoring of cross-border transactions is waiting for further improvement.
"Internet of Things Market Research Report"