The Internet of Things (IoT) enables connectivity between devices and sharing of information but presents unique security issues; for instance, the potential for data to be stolen and the possibility of hacking to spoof the output of connected devices. While there is estimated to be 20-200 billion connected devices by 2020, this developing industry still lacks a standardized security system. While companies such as IBM are exploring the role of blockchain in protecting IoT infrastructures, Chain of Things is a consortium that has arisen to discover whether or not the blockchain can solve the security threat faced by the IoT...
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