CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

Blockchain could pave wave for more IoT

The internet of things, smart fridges that reorder your ice cream and such, would be trusted more if running on the blockchain, according to Dell’s Pilar Santamaria.

Fridges that re-order more of your favourite yoghurt or connected cars are just two examples of the use of internet of things (IoT) – everyday gadgets and appliances with simple computing installed that allows them to make transactions via the net.

At the moment IoT devices do not operate on the blockchain, but thanks to the transparency and security the technology offers, consumers would trust such devices more, according to Pilar Santamaria, CTO and VP Innovation at Dell EMC.  

Smart contracts, a key component of the blockchain, enable transactions without involving third parties. Santamaria says this will allow users to reduce bureaucratic overheads. 

She sees blockchain more as adding value and co-existing with currents systems rather than replacing them. She also says that it encourages a more customer-centric attitude.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Find articles by writer