What Does IoT Mean?
IoT – Internet Of Things
The Internet of Things refers to network and communications technology embedded in everyday objects, machines, people, animals, and other entities. There is the ability to communicate between devices without the need for a human or other controlling mechanism performing the work. Computing devices are everywhere and able to transfer data over a network.
Naturally, this begs the question about the potential role of Bitcoin. Bitcoin is a software protocol used to assign and transfer value between two parties without the need for a third party intermediary. Regardless of Bitcoin the issue and concept of money and value will certainly enter into the fray of IoT at some point. A Gartner analysis found that 75% of companies implementing IoT plan to pair it with blockchain technology.
All of the major tech players such as Facebook, Twitter, Uber, and Google are looking at how to take advantage of IoT.