Isle of Man is testing the use of a blockchain prototype to prevent IoT hacking and manage IoT devices
Both the securing of the Internet of Things, as well as the monetizing of it, are roles for blockchain technology, experts say.
In one developing case, the Isle of Man, a self-governing British dependency located just off the U.K. mainland, is testing the use of a blockchain prototype to try to preemptively see-off IoT hacking, according to Financial News, which wrote about the island’s efforts.
The island is a financial center and is looking to expand its offerings through fintech. It’s already involved in digital currency.
In another thrust, blockchain could be a way to add security, privacy and micro-payments to sensors and devices, says Craig Bachman of TM Forum’s Open Digital Program, writing in an unrelated blog post.
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