Adoption of Blockchain to Safe IoT Doubled in 2018, States Gemalto

The use of blockchain technology to support protected web of factors data, services and units doubled final yr, in accordance to a current survey by digital protection company Gemalto.

In a report posted Tuesday, the company claimed blockchain adoption in the IoT sector grew from 9 % to 19 % in 2018, even nevertheless the sector is even now awaiting regulation around the tech.

Gemalto surveyed 950 tech and business specialists globally for the analyze, also discovering that 23 % of respondents feel that blockchain tech would be an “ideal” remedy to use for securing IoT units. Further, 91 % of companies that do not currently use the technology are very likely to contemplate it in the long term.

Jason Hart, CTO of data defense at Gemalto, stressed the need to have for regulatory clarity in a statement, declaring:

“Businesses are obviously experience the stress of shielding the escalating quantity of data they acquire and shop. But although it is good they are making an attempt to handle that by investing in additional protection, this sort of as blockchain, they need to have immediate assistance to ensure they are not leaving themselves exposed. In get to get this, organizations need to have to be putting additional stress on the govt to act, as it is them that will be strike if they endure a breach.”

Inspite of the development in uptake of blockchain tech, adoption is even now in its early stages. As a consequence, companies are continuing to financial institution on other methods to guard themselves from hacks, the survey located, with the the vast majority (71 %) encrypting their data, 66 % deciding on password defense methods, and 38 % integrating two-variable authentication methods.

However, nearly fifty percent of the companies surveyed are not able to detect if their IoT units have experienced a breach, and 95 % feel that there should be standard protection regulations and polices in position.

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