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‘Blockchain will be the security layer to information’

“When IoT was in its infancy, we hardly imagined what it would become. The same applies to blockchain technology,” says Principal Engineer, 75F

| | Oct 22, 2018 | 11:22 am
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Bengaluru, India, 22 October 2018: “Blockchain can provide security and anonymity, while enabling building systems to collect more detailed data about individual occupancy behaviour,” said Shilpa Basappa, Principal Engineer, 75F, during a conversation on the benefits the application of blockchain could have, if applied to the HAVC industry. Referring to the technology as in its nascent stage, she said, “When IoT was in its infancy, we hardly imagined what it would become. The same applies to blockchain.” She added that the technology would completely change the way industries work, while the data generated, stored and shared, will have huge implications.

Shilpa Basappa, Principal Engineer, 75F

To reduce security concerns, Basappa suggested that private blockchain strategies be used, which gives access to only authorised parties. Elaborating on the connection between IoT and blockchain technology, she said that IoT is like a communication, where there is a data exchange network between smart devices and that blockchain would add an extra layer of security to this data, completely securing it from hackers and other forms of security breaches.

Basappa said, “If applied to the HVAC industry, blockchain can prove to be a game-changer. Blockchain can be used to automatically renew payments, insurance and even cover warranty, therefore reducing the need for middlemen.” Programming the details for the payments in the form of Smart Contracts, she said, will save on time and energy. Basappa added that, today, there are advanced HVAC management and control systems used in IoT to gather building and energy-related data every 60 seconds that can ensure interoperability. The technology, she said, can also be used for occupation location analytics, which plays an important role in understanding the utilisation of space in a building.

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