Chain of Things Unveils Study & Conference on Blockchain-Based IoT Security

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Chain of Things, a consortium that supports collaborative development on an open source standard to secure Internet of Things (IoT) devices, today announced the launch of a case study on solar panels and a London conference on 1st of June 2016, covering Blockchain-based IoT security.

“Solar is at the root of the coming 3rd industrial revolution – Blockchain and IoT technologies are at the crossroads of this technology and will enable it to flourish further. Today, 240GWp of solar installations have been grid connected,” said Francois Sonnet  of ElectriCChain.

“By 2040, the International Energy Agency expects an additional 5,000GWp of solar power, translating into upwards of 200 million decentralized solar applications. Securely linking solar production data to the ElectriCChain Blockchain will enable solar owners to share production data and help create a first of a kind global monitoring platform for Global Climate Change and Meteorological purposes.” 

In 2016, there are more connected devices than human beings. By 2020, it is estimated that there will be between 50 and 200 billion connected devices all collecting, relaying, and automatically actioning data. Cybersecurity is the biggest priority in an ever-connected world. We have seen numerous hacks with disastrous consequences for business and even governments. This will only get worse.

When you look at the state of IoT today, it doesn’t take a genius to see that there is a security blackhole. No one checks their terms of business when they buy a connected device. If they did, then they would learn that the company disclaims all liability for everything. This is not good enough.

Blockchain is the most secure database in the world that has never been hacked. The bitcoin Blockchain is an online monetary system – if you put money on the internet then surely, more than anything else it will be hacked. But bitcoin Blockchain is still there and standing strong.

So can these simple security properties within Blockchain technology serve and secure IoT? That is the purpose of the Chain of Things consortium. To deal with the most pressing problem that everyone would prefer to avoid.

Their first investigation is a practical case study connecting devices to different Blockchain protocols and seeing whether that approach is more secure than the way things are done in IoT today.

They have brought together a few key partners, one to provide solar panels and a device to record the data from the panel, another to provide a device that will run at least two Blockchain technology systems. Based on that, the solar data will be recorded and pushed onto the Blockchains. They will look at the security of adding, maintaining and moving that data on the ledgers. If the security dimensions of Blockchain technology start to make sense, then this event signals the beginning of the build of an open Blockchain IoT standard.

Protect yourself from the danger of a connected world. Come and join us (click here) on the 1st June 2016 if you have an interest in security and IoT. If you’d like to join Chain of Things as a Partner, please email info@chainofthings.com

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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