IoT Technologies Inc (CoCo Soft Inc). is a leading provider of blockchain implementations for IoT applications. Our company is a contributing member of IEEE P2418 Working Group on “Standard for the Framework of Blockchain Use in Internet of Things (IoT)”. The purpose of this Working Group is to develop definitions and a protocol for blockchain implementations within an IoT architectural framework.
The blockchain technology is anticipated to become one of the major disruptive technologies in the 21st century. In principle, it is a simple protocol for implementation of a decentralized transparent public ledger. The revolutionary feature is that the trust is inbuilt in the protocol itself. It has the potential to transform finance, energy, healthcare, legal, government etc. The use of blockchain technology for IoT enables decentralized, autonomous communication (peer-to-peer, consumer-to-machine, machine-to-machine) without the need for a trusted intermediary.
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