How blockchain can work with IoT | TECH(talk)

hey everyone welcome back to Tech Talk
I’m Julia Beauchamp I’m here with Network world senior writer John Gold
and we are going to be talking about IOT and blockchain
– really buzzy words but do they really have any purpose together stick around alright John thank you so much for
coming in thanks for having me back always appreciate it so you cover IOT
pretty extensively and there’s obviously tons of use cases for IOT for consumers
and of course in the enterprise but something that is sort of new
information to me is how blockchain and IOT can come together there’s sort of
these two buzzy words but do they really serve any purpose in conjunction I think
they do um you know based on some of the reporting I’ve done lately I think part
of the reason that people are here to talk about it is that as you mentioned
these are a couple of buzzy words and people are eager to get them into the
same sentence but there are definitely use cases out there particularly one
source explained it to me really nicely as in cases where you know two parties
don’t quite trust each other but they would like to so you know largely
anything sort of transactional or you know you know working on that kind of
model I guess is uh where blockchain is pretty applicable yeah and so can you
give me an example of what would be an example of sort of as transactional
application of IOT yeah well um one example that was given to me was say you
had like a system for you know tracking like really like fine foodstuffs like
you know farm to fork basically tracking of like um you know I don’t know I guess
expensive you know well-bred meat or something you know so we you know
broadly there’d be you know asset tracking at every level that of that
process you know coming from you know you’d have the secure database thanks to
you know blockchain technology where it you know says that you know this has
been you know this product has been in this location for X number of days it’s
been refrigerated at Y temperature you know it you know this is their be
sort of this immutable record you know the idea is throughout the process so
you know just I guess cutting out the wholesalers middlemen along the way
sure and using IOT sensors to it for example say you know this is the
temperature that it was stored at right exactly
that’s really interesting it’s something I mean you do hear really frequently at
references to IOT and it’s obviously huge I don’t have to tell you this but
it is really interesting to sort of see ways to unite these two technologies and
it’s not just and it’s really not all talked just saying well you know what
black chain would be a great solution for this yeah I mean it’s you know it is
a really interesting idea just again based on sort of you know adding this
layer sort of trust and validation over you know any kind of transactional
system you know just it it adds that kind of security without the need for
you know other kinds of you know expensive specialized systems so and you
make a really good point we’re gonna link John’s article in the description
so you can read more about this but you make a really good point in your article
that if because block you know sort of this immutable record if there’s any
sort of break or pause that could sort of raise concern to anyone yeah I mean
that was sort of revealed to me in the context of you know I learned about this
basically just you know in the context of these examples that was provided
because it’s sort of a hard technology to grasp on an intuitive level sometimes
um but yeah that was in the context of there’s one company I spoke to that’s
making sort of a product that’s you know MIT Ferb it’s been sort of for the used
car market so what it would do is would plug into like a diagnostic port on your
car and you know just kind of keep you know maintenance record you know it
would be able to tell you whether you know like the airbags have been deployed
whether the cars ever been flooded and yeah and if it was removed there would
be you know this big blank space and the data where you know it’s as well hang on
this wasn’t being monitored what’s going on there ray can any can raise concern
or at least prompt someone to ask more questions exactly and it because
and you know because you know ideally it’s in this blockchain system it’s not
you can’t tamper with it so it’s not like you know the bad old days of used
cars where somebody could just like roll back the odometer with the grill right
and it’s because that also adds that extra layer of security
first of all just because it’s in the blockchain there’s an extra layer of
security but also as a potential buyer whether I’m buying for if whether I’m a
used-car seller or just an actual buyer it’s that extra sense of just personal
security knowing that this has not been tampered with the same goes for your
your farm to sort of table an example which is really great but I think it’s
also important while we’re going on and on about how there’s a potential use
cases for IOT and blockchain it’s also important to say you know you don’t need
to be going applying blockchain to every single IOT device yeah there are
definitely you know exception there are all these there are cool use cases out
there and you know they’re not a hundred percent you know this sort of
transactional model where it’s you know about some kind of you know exchange of
products or services but you know it is largely that’s that’s where it works
best definitely and you know I people might get you know because as we’ve
talked about these are you know very exciting sort of techie terms and
everyone likes to use these days um but yeah it’s definitely not the right you
know technology for every use case you know it’s you know it’s a database it
doesn’t you know it’s just not applicable to everything you’re using
the i/o the IOT for absolutely there’s no need to go out and employ blockchain
and IOT combinations and you’re under don’t you don’t need to rush into it no
definitely not and because this is sort of it seems to meet please correct me if
I’m wrong that it’s these are sort of newer use cases that this is really
coming into its own now yeah absolutely it’s I mean you know blockchain itself
isn’t you know brand new but the idea you know mixing it into you know some
sort of IOT deployment is definitely pretty new and you know not you know my
impression at any rate is that it’s not super well and
stood yet you know the way the two technologies sort of interact and you
know based on how you know nebulous and widespread IOT is you know it’s that’s
not really a surprise I guess and how because it’s new how would you recommend
enterprises employing it where there is sort of this transactional application
yeah it would definitely be focused on that kind of use case you know that’s at
this point you know unless you’re a really really big company who can you
know afford to hire blockchain programmers and I’m told that they’re
they you know they cost a lot of money but it’s definitely something that you
know mostly you’re gonna want to work with a vendor on you know you’re gonna
need you know sort of like a like you know most of the companies that are
offering this sort of thing you know some of them are like ASAP you know
they’re gonna have a lot of in-house expertise then that you’ll probably need
to get that kind of thing up and running sure and it’s you know relying on a
vendor for this sort of thing is yeah it makes sense
great well thank you so much for coming in John it’s really interesting to see
how I ot and blockchain can be applied in the enterprise I think it’s I mean
it’s exciting do you think we’ll hear more soon oh I don’t feel here a lot you
know more you know brand new information soon but yeah definitely down the line
there will be more use cases more applications coming out of the woodwork
and in any case we’ll be sure to keep everyone in the loop if there are more
use cases will bring John back on yeah thank you so much John and thank you so
much for watching this episode of tech talk if you liked this video be sure to
like it and subscribe to our Channel and we will be linking John story in the
description so if you want to learn even more about this John story really
expands nicely on it be here to check that out thanks so much for watching and
we’ll see you next time

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