Annual Report on Block Chains (3) – Internet of Things and Identity Management and Verification


Reporter: pencil boxn

Internet of Thingsn

The new software and technology of the Internet of Things can provide intelligent systems for existing infrastructures, such as the ability to add intelligent devices that can communicate with each other for the grid. Imagine building a new secure and resilient network that provides more service and economic value faster and at a lower cost.n
nThis structure is called a mesh network – a network that is directly interconnected between a computer and other devices. They can be automatically reconfigured according to network characteristics such as bandwidth, storage, and so on, so they are not corrupted or interrupted. Communities that lack cheap services or channels can achieve basic connectivity with a mesh network. The mesh network replaces the traditional top-down organization, regulates and controls the model; the security and privacy are higher because the whole link does not require the participation of the central organization.n
nMany organizations have combined complex network and block-chain technologies to solve complex infrastructure problems. American company Filament conducts so-called “taps” tests on poles in remote areas of Australia, which can communicate directly within 10 miles; because the poles are generally about 200 feet apart, the faulty poles The motion detector will inform the 200-foot outside the pole; assuming the detector fails, will be notified in advance 10 miles within the other poles, and then through 120 miles within the nearest backhaul network to communicate with the company.n
nCustomers can connect directly to the device using a mobile phone, tablet or computer. The “faucet” contains a lot of sensors – temperature, humidity, light and sound, and customers can use these sensors to monitor and analyze grid status for a long time. They can obtain relevant data and pass the data to the other users through the block chain – the government, the broadcaster, the pole manufacturer, the environmental protection department.n
nFilament’s business model consists of three parties – the Filament, the customer and the power company. Filament has hardware, its equipment has been monitoring the poles and status and information exchange, the sensor data sold to the data integrator, and then sold to the power company.n
nPower companies pay monthly monitoring equipment costs, reducing the company’s high cost of on-site inspection. Because the poles rarely collapsed, so the mesh network communication function is basically idle.n
nIn addition, the block chain technology can also play a role in the automotive industry. Security issues have become a focus of attention in terms of vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-market (V2X) concepts. All things are connected in this area, because there are more and more factors affecting network security, but with the emergence of block-chain technology, this problem can be solved step by step, because all the data can be captured through the distributed account system The In the automotive sector, automotive finance and automotive supply chain applications will bring many benefits to consumers, because it will not only save time, but also simplify the process and reduce costs. Car suppliers can use the block chain to book. Through the digital encrypted currency transactions, in the car rental process public release of new transactions, so as to create a digital identity for the vehicle.n
nToyota joined the R3 block chain alliance to apply the block chain technology to the supply chain and connect the car system. Through this technology, to track the vehicle owner and the specific parts of the delivery experience. With the help of auxiliary equipment and sensors, the drivers of connected vehicles can communicate through the city infrastructure. This is also beneficial to the automotive supply chain management.n
nVisa and DocuSign in the car rental business to introduce the concept of Bitcoin block chain to account. As a result, users can send, approve, and sign any file on the Internet at any location on any device to ensure seamless transactions. Under this concept, the connected car completes the payment on the network and ensures the security of the contract. The process of buying or renting vehicles is simplified through block-chain technology, which also provides digital car rentals, digital insurance, digital service maintenance, and electronic payment tolls.n
nIdentity management and authenticationn
nThe United Nations Headquarters in New York in May 2016 held the “ID2020 Summit – Control Digital Identity in a Global Community”, and in the opening address, the United Nations sustainable development goal referred to the goal of achieving a legal status for everyone in 2030 , As a first step, first by 2020 to develop a scalable identity system. The goal is to bring technology companies and decision makers to develop action programs. According to the Digital Identity Initiative, large-scale technology participants are studying the integration of block-chain technology into identity management. This will make digital identity authentication safer and more efficient, enabling seamless login and reducing the chance of identity fraud, and the user identity can be uniquely verified in an irrevocable and secure environment. Several block chain companies have begun to study this concept, such as Blockstack Labs, Evernym, KYC-Chain and UniquID.n
nIn addition, Microsoft has announced and Blockstack Labs, ConsenSys and other global developers to create an open source, self-management, block-based chain identity system, so that ordinary people, products, applications and services can be in the block chain, Cloud platform vendors and other organizations to achieve interoperability.n
nThe figure below will mark the size of the digital identity application in the vertical industry, which is expected to increase from $ 23.2 million in 2016 to $ 283 million in 2021, or a compound annual growth rate of 64.8%. Banks, financial services and the insurance industry are expected to be the market leader in this application, and its total will rise from $ 6.9 million in 2016 to $ 73.1 million in 2021, representing a compound annual growth rate of 60.5%. While the retail and e-commerce sectors will hit the highest compound annual growth rate, which is expected to reach 69.3%.n
nTable according to vertical industry analysis of digital identity 2015-2021 market size (US $ million)n

nSource: Auxiliary Literature, Wall Street Block Chain Alliance, R3 CEV, Expert Interview and MnM Analysisn
nThe figure below is the size of the digital identity application market, which is expected to increase from $ 23.2 million in 2016 to $ 283 million in 2021, an increase of 64.8% in composite annual growth. North America is expected to be the dominant market, rising from $ 10.5 million in 2016 to $ 102.2 million in 2021 and a compound annual growth rate of 57.8%. Asia-Pacific region is expected to hit the largest compound annual growth rate of 76.6%, the market size from 2016 US $ 3.5 million rose to 60.7 million US dollars in 2021.n
nCharts are marketed in terms of regional markings for digital identitiesn

nSource: Auxiliary Literature, Wall Street Block Chain Alliance, R3 CEV, Expert Interview and MnM Analysisn

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