IoT Firms Massively Tap Into Blockchain Doubling Tech Adoption in 2018, Gemalto Reveals

UTC by Julia Sakovich · 3 min read
IoT Firms Massively Tap Into Blockchain Doubling Tech Adoption in 2018, Gemalto Reveals
Photo: Gemalto / Twitter

According to the survey conducted by Gemalto, blockchain is positively welcomed in the IoT but there is a lot to do to ensure its mass adoption.

Traditionally, when the year is over, it’s high time to reveal the figures that were shown or achieved by companies and industries. Just recently, Gemalto, a major cybersecurity firm from the Netherlands that now operates in 180 countries, has disclosed that the usage of blockchain technology to help secure internet of things data, services, and devices doubled in 2018.

Blockchain Adoption

To find out these figures Gemalto has conducted a survey and gathered data from 950 information technology and business decision makers from all over the world.

The results of the survey conducted by the company have shown that the usage of blockchain in the IoT in 2018 increased up to 19% from 9% in 2017. Maybe for someone these figures won’t seem very impressive but it is important to bear in mind how challenging the year was for the entire industry.

Survey by Gemalto

If we look closer at the results of the survey, we will see that 23% of the people participated in it view blockchain as an ideal variant for the IoT.

91% of the companies that were not using the emerging technology at the time when they were surveyed responded that in the future they would at least consider a variant of application of this technology to their developments and initiatives.

And only 3% of all the respondents said that they didn’t want to see blockchain in the IoT or related sectors. It means that the blockchain tech is welcomed in the sector.

Need for Regulatory Clarity

It was also found out that businesses want governments to pay attention to this sphere. 79% of the respondents want to see more robust guidelines on IoT security. 59% need to get a clear answer who should take responsibility for protecting IoT.

The company has also touched the issue of regulation in the industry. Jason Hart, CTO of data protection at Gemalto, emphasized a great necessity to add some clarity to this vital aspect, he said:

“Businesses are clearly feeling the pressure of protecting the growing amount of data they collect and store. But while it’s positive they are attempting to address that by investing in more security, such as blockchain, they need direct guidance to ensure they’re not leaving themselves exposed. In order to get this, businesses need to be putting more pressure on the government to act, as it is them that will be hit if they suffer a breach.”

Nevertheless, in spite of all the potential of the technology and the positive attitude towards it from the side of businesses, its adoption is still rather low which means that there is a lot to do in this sphere. And one of the reasons that make companies look for some other solutions is, obviously, the lack of regulation and adoption.

Blockchain News, Internet of Things News, News
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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