Blockchain for Internet of Things (IoT)
Discover how web3 is emerging in the Internet of Things (IoT) industry.
Companies we’ve helped with their web3 strategy
What challenges face the Internet of Things (IoT) industry?
The Internet of Things (IoT) industry faces a few key challenges including: Coordination, Data Privacy and Double Spending.
Lack of coordination can lead to inefficiencies, confusion, and miscommunication in work processes and project management.
Data privacy concerns are escalating as personal data becomes susceptible to unauthorized access, potentially leading to identity theft and confidentiality breaches.
Double spending refers to a scenario where a digital currency is spent more than once, leading to fraudulent transactions and undermining system trust.
Blockchain can help us solve some of the world's biggest challenges, such as poverty and climate change.
Satya Nadella
Chairman and CEO, Microsoft
What are use cases for blockchain in the Internet of Things (IoT) industry?
Blockchain can be used to solve problems in the Internet of Things (IoT) industry including Traceability, Privacy and Payment Streaming.
Blockchain ensures supply chain traceability by creating immutable, transparent records for every step, ensuring the authenticity and origin of products.
By providing a decentralized and transparent platform, blockchain technology can ensure privacy. It securely stores and verifies sensitive data, eliminating the need for a central authority.
By enabling real-time and continuous microtransactions, blockchain technology can revolutionize payment streaming. It eliminates the need for traditional payment systems, enhancing efficiency and transparency.
How can Alchemy help Internet of Things (IoT) companies with their blockchain strategy?
Alchemy's team of blockchain experts and enterprise-grade web3 development platform can help Healthcare companies plan, build, and scale new blockchain initiatives.
Previously, we couldn't automate bookkeeping for on and off-chain purchases within our carbon removal marketplace. With Alchemy's Custom Webhooks, we can instantly get notified about the most recent on-chain transactions and can merge that information with off-chain data. The key thing for us here is that this data is 100% reliable, so we know we can safely show it to our users in the frontend.
Jaycen Horton
Co-founder, Nori
