Fear cannot act as a motivator while integrating IoT and Blockchain

by | May 20, 2019 | IoT Companies

Bosch, the electronics and engineering manufacturer, said that the company is going to play a significant role to defend the openness of IoT technology. Mainly, IoT or Internet of Things opposed to censorship from the company’s press release. According to the sources, the press release took place on the 15th of May 2019.

The company has made numerous developments, and there are several developments which are on their way. Bosch’s new accomplishments are an important part of both the future of the Internet of Things and the relatable Economy of Things.

Blockchain comes under Distributed ledger technologies. Nevertheless, it will still become an important technology to drive the IoT in the specific domains, according to the press release.

Several firms are ranging from distinctive startups and government agency that are trying to make a progressive approach to the potential of blockchain, concerning IoT. However, Bosch went a little bit beyond during its publicity. During the press release, Bosch showcased an open viewpoint regarding the ethics of the phenomenon.

The press release also suggests that Bosch is quite concerned regarding the impact that censorship on the blockchain is going to bring forward. Bosch fears that the new reactions from the people will change the way blockchain technology works across borders.

Dr. Volkmar Denner, the CEO of Bosch, said that there is a need to open never-before-seen platforms that will build trusted digital ecosystems. Member of the board of management, Dr. Michael Bolle noted that the company is not likely to accept a situation which would overwhelm the reactions to digital innovations such as unprecedented fear and mistrust. Only because of this, the existence of the Digital Trust Forum will give rise to more of an open dialogue among the experts.

The press release also revealed that Bosch is integrating with EnBW which will facilitate e-car charging in electric cars. Bosch is also pairing up with Siemens to curate a blockchain-based system based on smart parking-management.

**This post was published on https://cointelegraph.com

Neelam Dimri

A post graduate and gold medalist in English literature with a great passion for writing. I am an avid blogger and love to write technical and nontechnical Articles, Blogs, e-books, the latest platform of global interest. I firmly believe in the healing power of writing and how it works fantastically to improve one’s creativity as well as personality. Life is too short to express yourself so, keep writing and enjoying.