In 2015, there were 4.9 billion connected ‘things’ in the world.
By 2020, this number is expected to increase massively. Some have predicted there could be as many as 21 billion connected devices worldwide.
A scenario that was impossible to imagine a few years ago has now become a reality.
What Exactly is the IoT?
The Internet of Things is all around us. It makes a huge impact on our daily lives, and for most of us it has become the norm - we couldn’t imagine living without it. However, there is one major problem with the IoT today...and that’s that very few people actually know what it is.
A report has shown that as of 2014, 87% of people had never even heard of the Internet of Things. In some ways, it still sounds like nothing more than another confusing tech buzzword. But it could be responsible for one of the biggest technology paradigm shifts we’ve ever experienced.
The Internet of Things (IoT), also known as the Internet of Everything (IoE) refers to the collection of devices or objects that are connected to the internet that collect and transmit data via the Internet - from your smartwatch to your refrigerator. Soon, virtually every single device you own will be connected to the Internet.
The demand for the IoT is growing rapidly. Very soon, there will be more IoT devices in the world than there are people. While this comes with many advantages, it also makes us more susceptible to security breaches.
The major problem with these devices is that by using them, we submit all control of our personal data. This is a huge problem when 69% of US consumers believe they should own all the personal data all Internet-connected devices they own.
Read the full article:
https://coinidol.com/how-the-blockchain-is-about-to-revolutionize-iot/
