No one will refute the fact that blockchain and IoT are not simple technologies. But they are becoming easier lately to implement as a result of the growing credibility of managed platform services. These managed services have made the technical aspects of blockchain and IoT much less intimidating. And while many of the technical hurdles have been reduced, there remains some very real barriers to success. These barriers are the old rules and the processes that are still required by older business models and culture. The following article describes how to overcome some of these challenges.
Many of the most advanced and successful blockchain projects involve use cases related to supply chain and logistics, ranging from documentation management and goods tracking to trade finance. Having access to a “golden record” of key data is clearly a benefit in its own right — no more phone calls and email exchanges to reconcile data, everybody knows where the goods are, and so on. But for many use cases, that’s not enough.
Any blockchain network that involves the tracking of an asset — whether it’s an expensive piece of equipment or a shipment of fresh strawberries — needs more data than just the location of the items. Have those strawberries been kept within a prescribed temperature range? Has the equipment got damp at any stage? And even, is this item genuine, and has nobody tampered with it? Without an understanding of the condition of the goods, companies won’t be able to leverage the benefits of blockchain networks to full effect. Enter the internet of things (IoT)!