There are two key concepts of the blockchain: decentralization, which means a network organized automatically by itself. In this way, all transactions online are transparent […] And the second concept of cyber security is cryptography.
One thing we know is that, if there is money involved, people will not only use blockchain, but also develop ideas about how to steal money using it.
The consumer is rather ignorant about his security when involved in the Internet of Things, so there is a need for better education, for better risk management, and the role of the government should be to resolve this issue.
From the standpoint of e-commerce, there remain issues of personal data security, customer identification, and managing loyalty programmes based on these. Blockchain technologies could provide a solution to these problems.
It is important to resolve technological security issues as they arise. Regulations run the risk of stifling technological development. We must look for a balance between progress, the digital revolution and security concerns.
The main value to be brought to fruition by the Internet of Things lies in commerce. It will enable us to collect data, analyse it, and draw conclusions based on information that isn’t being used right now.
If the Internet of Things actually develops into billions of data junctions, expenses associated with data transfer will fall considerably.
‘Smart cities’ will make us happy and save years of our lives.
In partnership with Egorov Puginsky Afanasiev & Partners
In partnership with P&G