Blockchain and Internet of Things

Few months back one of my friend came up to me and has asked, What is Bitcoin? I explained him about the same and then few days back he came up and this time he asked me about Blockchain.

As mentioned in Bitcoin WIKI, A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history. A better explanation is given in Youtube.

I was going through one of the article in IBM and thought an ideal blog entry to share regarding Blockchain and its use with Internet of Things. Check out the PDF used in the link here. I feel Blockchain can emerge as future evolution with its implementation in the field of Trading and Insurance. I am still very much fascinated on how exactly Blockchain and IoT will work together though Security is still major part here.

Wikipedia link for reference.