Amid various technological innovations and technological disruptions, internet of things (IoT) has a major role to play in 2018. Today, IoT platforms are steering the network connectivity ahead and connecting cloud with the physical world. This is where edge computing comes into the picture; edge devices are capable of storing the increasing amount of computing data.
While Bitcoin, Ethereum, and LiteCoin, are on the rise, cryptocurrency is leveraging blockchain technology and is expected to witness extensive adoption through IoT. Every connected IoT device can utilize blockchain to securely organize, store, and share volumes of data. Nowadays, designers are developing IoT products that require functionality for monitoring, remote product management, and controls. With regards to functionality, customizable applications are liable to become the “industry standard.”
The European GDPR guidelines have compelled several countries such as the US, France, and Germany to commercialize their enterprise data and companies are abiding by the laws. Leveling the playing field, the European authority will issue guidelines this year to promote the use of advanced data mining technology, which will further improve the data economy with the development of IoT. With giant cloud service providers extending their global reach and solidifying their IoT capabilities, staying in compliance with a strict regulatory environment is crucial. Looking at the proliferation of edge computing, the blockchain, and application support, IoT platforms are likely to have an exciting year ahead.