The Internet of Things (IoT) is based on the concept of “intelligent” objects that can exchange and share information with each other, creating an ecosystem in which each object acquires its own digital identity and interacts with other objects in an interconnected manner. These objects continuously exchange and share data to make the entire ecosystem more efficient.
In recent years, the IoT has evolved in a disruptive way, not only from a technological standpoint but also from a cultural standpoint. Today, the meaning of the IoT goes far beyond the simple definition, as it revolutionizes the context in which it is used, impacting all the objects we use in our daily lives (smartphones, cars, appliances, PCs, production systems, etc.) and the way we relate to them. The IoT is based on a combination of enabling technologies that have existed for some time, and the integration of these technologies enables the creation of the IoT ecosystem, an open system in which all objects are interconnected and collaborate through continuous information exchange to make the ecosystem more efficient, and proactively communicate with other ecosystems.
The integration of IoT and Blockchain evolves the concept of the Internet of Things and enables the birth of the Internet of Value, an ecosystem in which data and information acquire value because they are tracked, transparent, and always verifiable by all stakeholders. The Internet of Value is rooted in the concepts of immutability and security, which are intrinsic characteristics of Blockchain, and encourages the exchange of information and data, generating trust and transparency among all the actors in the ecosystem.
The IoT is constantly evolving and transforming because it is based on continuous integration and interoperability with other technologies. This property can be considered one of its strengths because it allows the ecosystem to be constantly improvable and adaptable to various contexts. To better understand the dynamics of the concepts we are discussing and to emphasize the importance of Blockchain technology, it is important to trace the history and evolutionary steps that enable the transition from the concept of the Internet of Information to that of the Internet of Value, passing through the Internet of Things.
With the Internet of Information, the network is seen as a source of information through which any device can retrieve information. The Internet of Information is a unidirectional exchange of data through which an object acquires information but does not share it, and vice versa.
When the flow of data exchange becomes bidirectional, we enter the perimeter of the Internet of Things, in which objects continuously exchange and receive information. The objects become both receivers and transmitters of information at the same time.
The evolution towards the Internet of Value is driven by Blockchain technology, which is a technology that supports the exchange of data and information. In particular, Blockchain encourages the exchange, values the exchanged data, ensures their immutability and reliability, and protects the owner of that data.
Therefore, Blockchain and IoT are complementary technologies, and their integration is a winning combination for the management, sharing, and valorization of data and information, making IoT ecosystems more efficient and traceable.
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