With an avalanche of data privacy scandals unfolding in the past few years, such as those involving Cambridge Analytica, Apple, and, most recently, Avast, the question of personal data management and security is up in the air.
The proliferation of consumer IoT devices complicates things even further, with more and more unprotected data up for grabs. When it comes to all this data, blockchain developers are faced with two issues: data privacy and data transparency.
As for transparency, many consumers also wonder how credible labels and manufactures’ claims are in our profit-driven world. How can we be sure that we are not overpaying for insurance? How do we know that the engagement ring we have picked is manufactured ethically, or that piece of clothing we are wearing is not toxic to our body?
Blockchain services may be just the ingredient that the IoT infrastructure has been missing for so long, which could help consumers and regulators finally answer these pressing questions above.
Let’s look at blockchain-based IoT security use cases for consumers and regulators that may help overcome the current IoT issues while becoming the blueprint for safe mass adoption of IoT devices.
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