The rapidly increasing growth in use of Internet of Things (IoT) is observed in various industries and sectors all over the world. The IoT has been now rooted firmly in today’s technology era. It’s widely spread range from small devices to large structures as agriculture, smart city development and E—governance system gives us idea about its importance.
Each and everything in the world has two sides, one good and one bad. In this world full of technology, the good is all about compatibility, affordability and advantageous nature where the term bad counts for vulnerability of the product. When IoT’s vulnerabilities are taken into consideration, privacy and security are the two most troubling factors. As IoT is used nearly everywhere, the data is collected on a large scale for the smoother implementation of this smart concept.
Lack of cyber security becomes a concern here as too many systems are involved for the task which accordingly decreases the infrastructure homogeneity and create loopholes which allow cyber criminals to spoil the system with malicious attacks. These loopholes are dangerous as it provides free access for hackers to our valuable data. The blockchains all over the Internet community are taking interest in entering the loopholes and attack the IoT privacy with the help of special characteristics of the internet itself! The characteristics such as decentralization, anonymity and autonomous control over the system are enough to invite cyber intruders for attacking IoT privacy and security with malicious activities.
To overcome the cyber attacks on IoT, IBM cloud system, IBM Watson and Credits blockchain platform have decided to merge for providing a better security solution. The merger has launched a blockchain system which will offer a great speed for necessary processes and will also provide safer storage capacities needed for numerous IoT transactions. Currently, the blockchain is well appreciated and being tested in various giant systems of different sectors.