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Internet of Things (IoT) Blockchain Adoption Doubled in 2018

Adoption of blockchain technology within the Internet of Things (IoT) industry has more than doubled, increasing from nine to 19 percent in 2018, according to a new survey conducted by Gemalto, a Dutch cybersecurity firm.

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Gemalto surveyed 950 information technology (IT) and business decision makers globally, finding 90 percent believe IoT security is a substantial concern for clients.

Furthermore, 79 percent requested more vigorous security guidelines from the government.

Nearly a quarter (23 percent) believe blockchain technology “would be an ideal solution for securing IoT devices.”

Additionally, 91 percent of businesses not utilizing blockchain technology acknowledged they’ll likely consider adopting it in the future.

Jason Hart, CTO, Data Protection at Gemalto stated in the survey summary:

Jason Hart
Jason Hart

“Businesses are clearly feeling the pressure of protecting the growing amount of data they collect and store. But while it’s positive they are attempting to address that by investing in more security, such as blockchain, they need direct guidance to ensure they’re not leaving themselves exposed.”

Gemalto currently operates in 180 countries, reporting €3 billion (about $3.4 billion) in revenue in 2017.

In September, blockchain consortium R3 deployed a blockchain-based digital ID application which was developed by Gemalto, utilizing the R3’s Corda blockchain platform.

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