IBM Borrows from Bitcoin to Create its Own Decentralized Internet of Things

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IBM Borrows from Bitcoin to Create its Own Decentralized Internet of Things

ForexMinute.com – Tech giant IBM recently published a paper on ADEPT, a new decentralized Internet of Things system derived from Bitcoin technology.

ADEPT, which stands for Autonomous Decentralized Peer-to-Peer Telemetry, strives on bringing more privacy and stability in the ways which internet business models are handled. The blockchain-based concept taps on three protocols – BitTorrent for file sharing, TeleHash for P2P messaging and Ethereum for smart contracting – to execute transactions in a decentralized manner.

As explained in IBM draft paper, the Bitcoin blockchain technology could work as a ledger to store and broadcast transactions of billions of devices without putting much cost to the network maintenance. Excerpts:

“Applying the blockchain concept to the world of [Internet of Things] offers fascinating possibilities. Right from the time a product completes final assembly, it can be registered by the manufacturer into a universal blockchain representing its beginning of life. Once sold, a dealer or end customer can register it to a regional blockchain (a community, city or state).”

Partnership with Samsung
IBM meanwhile also partnered with home appliance company Samsung to execute ADEPT in a home environment. According to the paper, both the companies modified a Samsung W9000 washing machine with an ADEPT system to issue commands to a detergent retailer in case if it runs out of washing powder. Without requiring a human interaction, such a machine is expected to contact and pay the detergent retailer, the information of which will be broadcasted to machine’s owner through his/her smartphone.

Although, there are still certain challenges that are to be met before launching such a service.

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With an upbringing rooted in deep ethical values, Yashu Gola knows how to put honesty and dedication into his articles. This young and dynamic financial analyst has done his graduation in IT engineering. His interests in financial writing have once brought him to our digital doorsteps. Since then, he has been an integral part of ForexMinute.com and writes the most captivating news-articles on the foreign exchange industry, cryptocurrencies, and medical marijuana trading.