The Internet of Trusted Things: Blockchain as the Foundation for Autonomous Products & Ecosystem Services
This research report analyzes the enterprise opportunities and use cases for the convergence of the Internet of Things and Distributed Ledger Technologies. Despite recent growth of connected devices and networked services, the lack of shared architecture to interconnect, nevermind authenticate or monetize distributed machines limits value and business model success. DLT’s role as an enabler of the IoT lies in its ability forge trust, not only at the product level, but across an ecosystem of untrusting constituents.
This report is for forward-thinking executives and innovation leaders interested in exploring how distributed ledger technologies support IoT and automation strategies.
The report finds that blockchain and IoT are converging in numerous use cases supporting machine integrity and product-level trust:
- Product identity: an immutable way to authenticate the who, what, or origin of a product and its components
- Product transactions: immutable and secure way to authenticate and automate the exchange and settlement of a currency-based or tokenized asset.
- Product interactions: an immutable way to centralize all interactions, events, and updates associated with a product.
Product trust is only the beginning. These product-level applications provide the architectural baseline for five ecosystem-level opportunities in which DLT helps encode trust across multiple parties in a network.
Our research finds that, if developed for scale, DLT could offer IoT a level of interoperability, transparency, and security currently absent from today’s architectures, but essential to ecosystem-driven business models and autonomous products and services. The report also offers research-based recommendations and best practices product companies must address to forge trusted networks with ecosystem partners.