The block chain technology and Internet of Things (IoT) gains more momentum as they provide many cutting-edge solutions for a wide array of industries. Today, data security has become an issue while using IoT devices.
As we all know, IoT devices collect and store a large amount of data, the security of information stored becomes priority. At this juncture, block chain technology comes to your help. Blockchains are used in monetary transactions in the first place, however they can store any type of data without compromising security and transparency.
There are several ways blockchain helps secure data generated from IoT gadgets. The blockchain helps address rising concerns on data security on network connected devices.
Furthermore, it secures communication between IoT gadgets, preventing cyber criminals from accessing critical information or gaining control over the network connected devices. In the entire Internet ecosystem of things, it beefs up the security to avoid any incidence of data manipulation.
If you want to keep your data secured, blockchain technology can prevent privacy issues. The data gathered and processed by IoT devices are very huge and are subjected to cyber-attacks. Here blockchain technology helps to authenticate and protect the data managed by the IoT gadgets.
In this article, we will discuss how blockchain technology, known for its capabilities to provide complete data privacy across all IoT devices, secure the data generated by the devices.
How does blockchain help IoT data protection?
Blockchain helps keep tabs on the data collected by the sensors in the IoT devices. It makes sure that there is no instance of data duplication. Sensors exchange data with the help of blockchain technology eliminating the need for a third party. Also, blockchain provides real-time access to the data collected, stored and processed, it helps decision-making and enhances ROI.
Before we start discussing the inherent impacts and benefits of blockchain in IoT, we should quickly consider the security issues faced in IoT.
We have already mentioned that IoT gadgets are subjected to cyber-attacks. The reason for such attacks is attributed to the lack of security. The IoT devices often have limited computational ability and therefore are prone to cyber threats. The common risks associated with the use of IoT devices include.
-Software vulnerabilities
-Data breach in IoT devices
-Network security problems
-Malware attacks
-Hard to detect and fix security threats
The reasons why should you implement IoT security
IoT systems are used widely in every realm of our life and therefore, data protection becomes a top priority. Any possibility of data breach impacts the lives of several people. For example, if there is any data manipulation that occurs in your home security system or in your wearable fitness tracker, imagine what happens next! If IoT devices are used in healthcare and human security scenarios, under such instances, it directly affects the safety of people.
Therefore, keeping the data safe and secure while building IoT systems. IoT devices collect, process and store loads of data and any data breach can amount to the damage of business morale and customer churn caused by loss of trust. The fundamental objective of IoT data privacy is to ensure that the data is collected, processed, stored, and exchanged securely and to prevent any possibilities of data manipulation in the IoT system.
Security Benefits of Blockchain on IoT Data Privacy
Blockchain technology can ensure data privacy by securing the information collected on IoT devices. Since decentralized networks are widely used in blockchain, it is hard for hackers to attack. It provides enhanced data protection making it difficult for any fraudulent activities. Therefore, blockchain technology used on IoT ensures protection of sensitive information on connected devices.
How does blockchain technology secure IoT gadgets?
There are several ways blockchain for IoT helps prevent stealing and unauthorized access to the sensitive information stored in the gadgets. Let’s break them down.
- Smart Contracts
With the help of smart contracts, blockchain controls data access in IoT devices. Smart contracts allow only authorized access to data. This primarily assures that authorized persons can only access the information in IoT devices. At the same time, any unauthorized access gets detected and prevented at once.
- Decentralized Network
To facilitate decentralization in IoT operations, many businesses rely on blockchain technology. Using blockchain platforms in IoT, it prevents conflict of authority between several vendors. Furthermore, it enables devices to share the same network without having the need for additional resources. In fact, IoT gadgets powered by blockchain allow them to operate independently in the absence of centralized authority.
- Encrypted Data
Blockchain ensures enhanced security by authorizing encrypted data using these distributed ledgers. In the case of distributed ledgers, the data gets spread over several millions of devices. Therefore, any failure in a device or network does not impact the IoT system unlike in the conventional IoT model.
IoT Powered by Blockchain Platform
IoT and blockchain platforms work alongside to beef up the data security in connected devices. Technology is ever evolving, and the focus is now on offering a solution to combine both the IoT and blockchain platforms to make the most of both to enhance efficiency.
The key focus is to identify and fix the security issues in IoT devices. Since blockchain comes with secure features such as decentralized networks, immutability, enhanced security, there is no need for a centralized authority without compromising the data protection. Indeed, it gives more control and privacy for IoT device owners.
Overall, combining IoT services with blockchain capabilities ensure secure communication between different IoT gadgets, secure information collected and generated on IoT devices and automates device management by way of smart contracts.
