• Introduction
  • Scope and Application of IoT
  • Cyber Security
  • Scope and Application of Cybersecurity
  • Blockchain Technology
  • Bitcoin (Application of Blockchain)
  • Car Leasing using Blockchain (example)
  • Blockchain (Scope and Application)

Introduction

 

The Internet of things is a system of interrelated computing devices, mechanical and digital machines provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

An IoT ecosystem consists of web-enabled smart devices that use embedded systems, such as processors, sensors and communication hardware, to collect, send and act on data they acquire from their environments.

Scope and Application of IoT

 

Scope of IoT Internet of Things has emerged as a leading technology around the world. It has gained a lot of popularity in lesser time. Also, the advancements in Artificial Intelligence and Machine Learning have made the automation of IoT devices easy. Basically, AI and ML programs are combined with IoT devices to give them proper automation. Due to this, IoT has also expanded its area of application in various sectors like healthcare, automotive, Agriculture etc

Healthcare

IoT has proved to be one of the best tools for the healthcare industry. It helps provide advanced healthcare facilities to patients, doctors, and researchers. These facilities include smart diagnosis, wearable devices for tracking health, patient management, and many more. Furthermore, IoT devices have reduced unnecessary strain on the healthcare system.

The healthcare devices can directly send the patients' data health to doctors over a safe network. This allows the doctors to diagnose the patients from remote locations.

Agriculture

One of the three basic human needs is food. To fulfill the need for food, we do farming. However, now, as the population of the world is increasing, the agricultural industry is facing many challenges. Also, changes in weather conditions and climate hugely impact the agricultural industry. To meet the rising demand for food, the industry has hence adopted technology to increase productivity. It includes the use of following

  • Precision farming:
  • In agriculture, Information and Communication Technology is a tool used for smart farming. With the help of IoT-based devices, crop fields are observed. The technology uses sensors to calculate the moisture of soil, humidity, and temperature. Also, it uses an automated irrigation system to make efficient use of water. Precision farming helps farmers monitor their fields and boost productivity.

  • Agricultural drones:
  • Drones used for agriculture and farming are one of the best applications of Internet of Things. They are used to enhance agricultural processes. We use agricultural drones for planting crops, irrigating fields, spraying of pesticides, and monitoring the fields. With the help of drones, it becomes easier to evaluate the health of crops. This is all possible with the help of smart IoT-based devices that are used to make agricultural drones.

  • Smart farming applications:
  • Farmers use greenhouse farming to enhance the productivity of crops. In greenhouse farming, the environmental factors that affect the growth of crops are controlled by manual intervention. However, manually controlling the mechanism for the growth of crops is less productive. The emergence of IoT and technological advancements has led to the creation of IoT-based greenhouses that consist of various devices such as sensors, climate controllers, etc. These IoT devices help in measuring the various environmental conditions according to the requirements of plants. As all sensors and devices connect over the Internet servers, they provide accurate information on the environmental conditions. Then, the devices activate actuators to control heaters, fans, windows, and lighting of greenhouses to set according to the environment.

    Cyber Security

     

    Cybersecurity is branch of Computer engineering which encompasses following:

  • Cryptography
  • Cyber Warfare
  • Digital Forensics
  • Ethical Hacking and Cyber Kill Chain
  • Malware Analysis and Vulnerability Assessment
  • Security Engineering

    Cyberwarefare

  • Cyberwarfare refers to the use of digital attacks like computer viruses and hacking by one country to disrupt the vital computer systems of another, with the aim of creating damage, death and destruction.

  • Future wars will see hackers using computer code to attack an enemy's infrastructure, fighting alongside troops using conventional weapons like guns and missiles
  • Scope and Application of Cyber Security

     

    Estimates and prediction

  • Cybercrime damages will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015.

  • there will be 6 billion Internet users by 2022, and 7.5 Billion Internet users by 2030.

  • Global spending on cybersecurity will exceed $1 trillion cumulatively over the next five years

  • a business will fall victim to a ransomware attack every 14 seconds by 2020

  • there will 3.5 million unfilled cybersecurity jobs by 2021, up from 1 million openings in 2014.

  • Nearly half of all cyberattacks are committed against small businesses
  • Blockchain Technology

     

    Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, a car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.

    Why it is Called Blockchain?

    Blockchain owes its name to the way it stores transaction data - in blocks that are linked together to form a chain. As the number of transactions grows, so does the blockchain. Blocks record and confirm the time and sequence of transactions, which are then logged into the blockchain within a discrete network governed by rules agreed on by the network participants.

    Each block contains a hash (a digital fingerprint or unique identifier), timestamped batches of recent valid transactions, and the hash of the previous block. The previous block hash links the blocks together and prevents any block from being altered or a block being inserted between two existing blocks. In this way, each subsequent block strengthens the verification of the previous block and hence the entire blockchain.

    The method renders the blockchain tamper-evident, lending to the key attribute of immutability. To be clear, while the blockchain contains transaction data, it's not a replacement for databases, messaging technology, transaction processing, or business processes. Instead, the blockchain contains verified proof of transactions. However, while blockchain essentially serves as a database for recording transactions, its benefits extend far beyond those of a traditional database. Most notably, it removes the possibility of tampering by a malicious actor (for example, a database administrator).

    Bitcoin (Application of Blockchain)

     

    Bitcoin is actually built on the foundation of blockchain, which serves as Bitcoin's shared ledger. Think of blockchain as an operating system, such as Microsoft Windows or MacOS, and Bitcoin as only one of the many applications that can run on that operating system. Blockchain provides the means for recording Bitcoin transactions - the shared ledger - but this shared ledger can be used to record any transaction and track the movement of any asset whether tangible, intangible, or digital. For example, blockchain enables securities to be settled in minutes instead of days. It is also used to help companies manage the flow of goods and related payments or enables manufacturers to share production logs with original equipment manufacturers (OEMs) and regulators to reduce product recalls.

    The takeaway lesson: Bitcoin and blockchain are not the same. Blockchain provides the means to record and store Bitcoin transactions, but blockchain has many uses beyond Bitcoin. Bitcoin is only the first use case for blockchain.

    Car Leasing using Blockchain (example)

     

    Car Leasing / Purchasing Without Blockchain Technology (Centralized, Unconnected Ledgers)

    Tracking Vehicle Ownership using Blockchain (Distributed / Connected Ledgers)