IoT Expansion May Spur Government Blockchain Networks

Date : 05/08/2019 @ 5:31PM
Source :ADVFN Crypto NewsWire
Quote : 0.144131  0.0 (0.00%) @ 1:02AM
IOTA share price Chart

IoT Expansion May Spur Government Blockchain Networks


Bitcoin Global News (BGN)

May 8, 2019 -- ADVFN Crypto NewsWire -- Wifii spectrums will likely become omnipresent in major cities and along major supply chain routes such as ocean liners, trains and delivery vehicles from companies like Fedex and UPS. But as the use of Internet of Things (IoT) technology continues to grow, these Wifii networks will grow in use, congestion and necessity.

The number of connected Internet of Things (IoT) sensors and devices is expected to surge from 21 billion this year to 50 billion by 2022, according to data fresearch rom Juniper Research. Because of this, the U.S. government is looking into the possibility of blockchain to make spectrum use more efficient before the need for massive expansions comes.


Traditional Database vs. Blockchain

Regardless of blockchain technology use, the vast quantity of Wifi networks needs a database for storage. For established countries like the U.S., management is currently nearing capacity. The choice becomes developing novel technology that will use blockchain and Artificial intelligence to manage itself, or to continue to manage in a more traditional way.

"If you think about a world of the Internet of Things with 50 billion devices and wireless functionalities and input to all of them, we should figure out how we can have a real-time market for those spectrum inputs instead of this clunky system we have today with these exclusive-use licenses.” -  FCC Commissioner Jessica Rosenworcel

The Federal Communications Commission (FCC) is looking for a spectrum track-and-trace technology that is open-source, distributed and secure. This is precisely what a blockchain network can provide. so not surprisingly, it has begun to explore the use of blockchain ledgers. Further, with integrated transaction capabilities via smart contracts, it would enable many users to share any given spectrum, instead of them being held by one owner that may or may not be using the connection to its capacity.

The Obama administration began developing  ideas about sharing airwaves in 2015. The concept is somewhat like a hierarchy of rights and spectrum bands. For example, the U.S. Department of Defense uses the 3.5GHz band for military radar communications, but not all the time. Other entities to use that band when it's free. Rights for the secondary use would be licensed by the FCC, and could be facilitated by a blockchain network.

"So we just started moving away from this binary system of exclusive versus Wi-Fi and came up with this newer system where we thought maybe we can be more creative about how we distribute airwaves because we can make this resource less scarce.” - Rosenworcel



By: BGN Editorial Staff

Historical Stock Chart

1 Year : From Apr 2019 to Apr 2020

Click Here for more IOTA Charts.

Intraday Stock Chart

Today : Wednesday 1 April 2020

Click Here for more IOTA Charts.

Latest IOTAUSD Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200401 09:02:06