Challenges and solutions for the IoT

The full article was originally published by Markus on Medium. Read the full article here.

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

A thing in the internet of things can be for example a person with a heart monitor implant, a farm animal with a biochip transponder, an automobile that has built-in sensors to alert the driver when tire pressure is low or any other natural or man-made object that can be assigned an IP address and is able to transfer data over a network.

There are many challenges in the IoT:

Challenge micro payments

In the IoT countless data are transported. In very many cases it is necessary to provide this data transfer with a financial transfer. This is useful, for example, because data transported to a networked device because needed there, are not free in many cases and thus the data streams have to be connected with financial transactions. It is clear that for this reason countless micro payments will be necessary to reproduce these processes. A technology that can offer financial flows without fees makes sense

Challenge trust

Another challenge is the lack of trust among the companies. The industry has started its way into the Internet of Things. But there are companies that have stopped their digitization process or have not even started yet. Some are not as far as they could be. An important reason is lack of trust to exchange data, information and knowledge. Also, lack of trust in the existing data exchange platforms, mostly cloud applications. Trust in data security is a key factor in the IoT.

Challenge decentralization

With the Internet of Things, the amount of data generated increases exorbitantly. According to estimates, around 44 zettabytes in just a few years. An unimaginable amount of data, most of which would have to be transported to the center and back again. Data transport takes time and is error-prone.

In the Internet of Things, much of the data is generated by large machines, small devices and even smaller sensors. An obvious idea is to process the data decentrally. Where they are produced and where they are needed.

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The full article was originally published by Markus on Medium, where people are continuing the conversation by highlighting and responding to this story.

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