THE BIRTH OF BLOCK-CLOUD: REINVENTING THE CLOUD WITH BLOCKCHAIN Posted on : Oct 08 - 2018

Internet of things or IoT has become one of the most influential technologies, currently connecting more than 23 billion devices. This number is expected to reach 30 billion by 2020 and more than 60 billion by 2024. But the future of this technology is largely debatable, considering that it’s plagued by a poor business model, inadequate connectivity and scalability, as well as lack of overall trust due to cracked security.

Researchers have proposed using SCN or service-centric networking as a means of providing global connectivity and reliable scalability, however, this approach cannot guarantee service incentives, nor trust and security. Another solution for this issue is to use blockchain technology as a means of achieving security, trust and incentivizing IoT.

That said, these types of solutions require a well-connected, stable network to operate, a luxury in dynamic and mobile IoT scenarios. Enter BlockCloud, a new technology that takes the best of both worlds in order to provide a viable solution for increasing trust and scalability. But what is BlockCloud and how does it help overcome above-mentioned IoT issues?

BLOCK-CLOUD ICO

BlockCloud refers to a new blockchain-enabled TCP/IP architecture that combines blockchain with SCN as a means of powering IoT solutions. It is not restricted to otherwise clunky platforms and instead operates as a highly-mobile, layered solution that doesn’t suffer from the same scalability issues as do other blockchain options. Block-Cloud may be facing fierce competition from similar, as well as centralized solutions, the benefits it offers to provide it with a fighting chance of entering the growing IoT sector.

THE MARKET OPPORTUNITIES

As various new technologies seep into our everyday lives, such as autonomous vehicles, augmented reality and smart healthcare and so on, the world we live in will become progressively device-oriented. Having a streamlined and interconnected future does have its fair share of issues, namely the poorly developed IoT architecture.

There are many, sceptred solutions trying to fix these underlying issues, but BlockCloud is trying to solve them in a more comprehensive manner by propelling mobility, security, scalability, and trust while allowing for a fair distribution of profits among the market participants. View More