Cisco, Bosch and Foxconn Create an IoT Blockchain Consortium
▻http://www.newsbtc.com/2017/01/29/cisco-bosch-foxconn-create-iot-blockchain-consortium
According to reports, these companies will be working in collaboration to create a shared IoT blockchain protocol that can connect everyday objects of all sizes to the internet. These networked objects will be able to send and receive data.
The secure and tamper proof nature of cryptocurrency blockchain will be utilised by the consortium to ensure the security of the connection between various IoT devices. The increasing need for securing IoT devices emerged after a massive DDoS attack on the internet exploited several connected devices to do their bidding. With the implementation of IoT devices slated to increase in the coming years, it is the right time to explore all available and potential options.