KPMG will collaborate with the Trusted Internet of Things Alliance Organization
According to the new developments, KPMG LLP has allegedly combined its forces with the Trusted Internet of Things Alliance organization. KPMG will play the role of a catalyst to expand the trusted and blockchain-enabled Internet of Things. The core nature of the blockchain technology, i.e., decentralization will provide an opportunity for improving the infrastructure of the IoT devices and sensors.
In the long run, the integration between blockchain and Internet of Things will simplify the processes of business, improve the experience of the customers and achieve massive cost effectiveness by the utilization of the Internet of Things.
Trusted Internet of Things Alliance is aiming to curate and set a bar for the protocol of open source blockchain. Trusted Alliance will also provide the necessary support to the Internet of Things technology among the important industries around the world. The company aims at aiding the fortune 500 enterprise, companies that deal with blockchain and the blockchain developers.
Arun Ghosh, KPMG blockchain leader in the US, said that their collaboration with Trusted IoT would bring forward the crucial elements to transform the businesses as well as technology. And this will eventually drive a standardized and secure Internet of Things framework which is backed by the blockchain technology.
The collaboration will also drastically improve the value of the emerging technologies for the clients as well as KPMG. Furthermore, it will also enable them to improve the data security of the Internet of Things devices.
According to Ghosh the merging of blockchain and Internet of Things will allow them to build a new level of transparency between different parties. The secure data stored in the sensors will aid in completing track service. Besides, the smart contracts will take care of the automation processing of the payment and at the same time facilitate tracing of the products in real time across numerous supply chains.
**This post was published on https://www.moneycontrol.com
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