Blockchains and the IoT: Realizing the Economic Potential

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Blockchains and the IoT: Realizing the Economic Potential

Executive Update
Posted June 22, 2016 in Business Technology & Digital Transformation Strategies, Data Analytics & Digital Technologies

This Executive Update focuses on how the Internet of Things and blockchains are at the front of a broad shift toward decentralization that involves moving computing power and information ownership to the edge, while bringing more control to consumers and end devices. As such, the onus for leading this shift lies on the user communities and influential consumers (e.g., large businesses, federal governments, city councils) rather than the ven­dors themselves. Realizing this technology shift is going to be as challenging as the opportunity it presents. The economic potential can be tapped gainfully only if the barriers are addressed holistically by all relevant stakeholders. The tipping point for mass adoption will be reached when the availability of common standards and ubiquitous communication infrastructure enables a compelling value proposition for consumers and viable business models for technology providers.