The Internet of Things is a natural evolution of IT technologies by connecting basic objects to the network or to each other. A light controlled by a mobile phone application, or an alarm clock synchronized with a coffeemaker are simple examples.
There will be a panel discussion at the WOF Expo conference 8th October 2021, about the Internet of Things and related topics like Machine-to-Machine trading and communication, Smart contracts, distributed ledgers, smart things and goods visibility within supply chain and interesting practical cases and user stories.
Blockchain (i.e. distributed ledger technologies) and the Internet of Things (IoT) are key technologies that will have a huge impact in the next 10 years for companies in the industrial market as well as in logistics and broader supply chain. These two technologies will improve efficiencies, provide new business opportunities, address regulatory requirements, and improve transparency and visibility of processes.
International Data Corp. (IDC) predicts that, in 2025, 75% of the 55.7 billion devices will link to an IoT platform of some sort. Indeed, recent events such as the advent of COVID-19 brought blockchain to the forefront, as social distancing and reduced labor forces on-site accelerated digital trends.
To address the issue of cybersecurity, the European Commission presented a comprehensive Cybersecurity Strategy for the Digital Decade in December 2020, outlining a path towards a widespread Internet of Secure Things. They focus on developing secure and modular frameworks that can be integrated in new and existing solutions for sectors like manufacturing, food supply, energy, and transport. This cluster consists of 8 projects, amounting to €40 million (around €5 million each) in EU funding.
“The IoT in Slovakia is only in its beginnings, appearing mainly in the manufacturing plants of foreign companies,” said Ondrej Macko, editor-in-chief of the TouchIT.sk website. “Individual parts have their own internet address, and it is possible to monitor their entire manufacturing cycle.”
“The IoT lowers costs and optimises the means of production, which means an increase in profit,” said Ondrej Kubo, the application architect at IBM.
While in Slovakia, the IoT is just coming into normal use, in the UK or France people can already buy a fridge the content of which can be checked via sensors. While already fully deployed in industrial sphere we are going to explore use cases and value drivers in broader supply chain (supplier collaboration, in transit visibility and cross-border transactions) for these two technologies in our WOF Expo 2021 discussion panel with experts from technology industry of IOT and Blockchain.
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We can’t wait to see you at the WOF EXPO 2021!