Exploiting Blockchain Technology To Secure The Internet Of Things

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    ‘Internet of Things’ – the next-generation craze – undoubtedly brings us a futuristic view of technology. Operating all our gadgets with a single click, having the most robust connections among all the appliances at home, forming a network, is indeed an excellent concept.

    Nonetheless, this integration raises security concerns. What if somebody snoops into your network? Will your sensitive details remain protected? By 2030, we foresee 500 billion gadgets and appliances that will all be linked together via the internet. So, are we able to secure them all?

    At present, you may not find robust security measures to protect these networks, but using blockchain technology to secure the Internet of Things is definitely a futuristic concept.

    The need to secure the Internet of Things is the need for time

    As we develop newer protective measures, we notice a further rise in cyber-attacks since the hackers are also becoming smarter. In such a scenario, the growth of the Internet of Things has added more concerns towards cybersecurity.

    Today, we see all the tech giants coming up with innovative gadgets that make your life easier by connecting to the internet. Whether it is Google, Microsoft, Samsung, Apple, or the upcoming tech startups, we see a plethora of new ventures and smart devices.

    However, besides the tech giants, we do not see anyone focusing much on the device security. Those in particular who are involved in the manufacturing of smaller internet-based devices such as the smart doorbells, cameras, door locks, and others, are creating a significant vacuum in cybersecurity.

    By the year 2020, it is speculated that 25% of all cyber attacks will be targeting IoT.

    So, are there any measures to prevent snoopers from intruding through these sources?

    Present security measures for the Internet of Things

    There seems to be a current disregard or complacency around securing our IoT.

    According to a survey, 54% of IoT users have no additional security, and 35% never bother to change their router or WiFi passwords. This clearly depicts a lack of awareness among users regarding their online protection.

    A few companies are working towards improving IoT security, but this adds to overall costs, with firms having to employ new staff and install more modern software programs to protect their database as well as their users.

    Moreover, they have to make themselves vigilant to send security updates to their users. Of course, for mid-level tech firms, satisfying all these ends is a big deal. The solution that emerges must protect IoT devices and data seamlessly: blockchain technology may prove to be this very solution.

    Indeed, the blockchain is a robust database that records transactions. This single database gets stored in several places, allowing digitally verified transactions. All these transactions can neither be changed nor deleted. Hence, the overall database remains secured.

    The highly protected blockchain environment can undoubtedly provide a stable base to secure IoT framework.

    The idea of using blockchain to secure the IoT is not a new one. In fact, the integration of blockchain with IoT was introduced in January 2017, when a group of cybersecurity tech giants united together to work on IoT-Blockchain projects.

    Using blockchain to come up with new devices

    Blockchain will provide a unique platform to the new device makers to enter the IoT world. The transaction-based system will allow the startup firms to check for new software in a blockchain, and upload their updates as they develop.

    Since all the devices will bear a unique cryptographic identity, the system will ensure that the updates get conveyed to the right device. It will also continuously safeguard device security as the users will periodically receive the updates to prevent hacking attempts or cyber-attacks.

    Regardless of how effective a system is, without proper implementation by the tech firms, the security of IoT will remain questionable. Although blockchain-based projects were ventured last year, we do not see the large-scale application of this technology as yet.

    There is a need to persuade the device manufacturers, mainly the startups, to adopt adequate security measures to protect their devices. Besides technological aid, they also need support on a governmental level, and feedback from the customers, to make them achieve their tech protocols.

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