Combining two of the most innovative tech changes in recent history will give you the best of both worlds. It may be difficult to understand how they work together if you are not sure what each term means. We will start there and then explain how they will work together.
The Internet of Things is a concept that has been around for a while but has not been put into real use until lately. If you are unfamiliar with exactly what it is Wikipedia defines it as a combination of devices and sensors that connect to each other through the internet. The IOT can tie an entire company together, from planning to execution and delivery. IOT can connect software to sensors placed strategically around the process, making it possible for one person to control an entire assembly line. And once the system has been automated the entire process will work itself.
Most people have heard of Blockchain by now but understanding exactly what it is can be difficult. To make it simple we will go back to our childhoods. Picture a set of building blocks in front of you. The ones that can be connected to each other. Now think about placing smaller blocks inside of the bigger ones until it is full. Once it is full you need to visualize the block being connected to the next one and then the empty one filled with smaller blocks again. And so on. This is how Blockchain works, except the small blocks would be data placed into the bigger blocks of storage. Once the block is full of data it will connect itself to another block, forming a chain. These chains form an online ledger that is transparent to all that have access to the platform. This makes it easier for companies to check data on potential customers and makes it virtually impossible for any of the information to be hacked. All the people on the program can add data, and check data, so if a hacker did get into one computer, the others on the platform would catch it. This is all made possible with good NBN plans that allows companies across the world to connect with each other.
You should be able to see now how they can work together in an amazing way. IOT can control the operations of the business while Blockchain can store and secure all the data that is accumulated. This combination is great for companies that are set up to use them. The ones that are not are slowly finding ways to adapt the way that they conduct business.
When you throw Bitcoin into the mix it is possible for a business to be totally reliant on technology, from start to finish. Payments can be made, items can be purchased, and the assembly lines can continue to pump out all the products that the line is equipped to make. Of course, the concept of virtual money is a new one that many people are not prone to go for yet. But if the system is connected to a bank account or payment platform then in theory it will work the same way.
Technology has stormed the world and there is no going back, even if we wanted to. The way business is conducted will continue to change until everything becomes automated. It may seem scary for you when considering how it will affect the job markets, but there will always be need for people in any system. Especially if you can work on any of the sensors or devices that are found within the specific system. If you can work on the programs and computer systems, you will be set.