Blockchain and IoT: The Next Big Thing

welcome everyone thanks for having me I have a presentation ready that is short and sweet I have to admit I tend to speak fast you have the chance to ask questions at the end though so I'm looking forward to hopefully somewhat of a discussion for this structure you have to know that I'll go through some of the basics or fundamental shifts that enable different technologies like IOT and blockchain to work together and hope to be able to talk a bit more in detail on a few projects that we next big thing have worked on in those areas for some of this light might be a basic slide if you've lived in Germany in the past ten years and actually looked at the tech industry but I'll I cannot stress enough how important these fundamental shifts of technology and technological influences are on industrial verticals so if you look at the historical shifts that we now build upon you can trace it back to the first industrial lucien all the way to the fourth the first being steam power for example and the latest move after digitization of data is actually in the connect connecting the the digital and the physical that was even recognized by the German government so I recently attended the hub conference in Berlin where Peter out may have said that these changes are changing our world rapidly which i think is basically an underestimation of what's happening at the moment if you look at the technology the digital technology as it used to be about 40 50 years ago we were talking about single computers under desks somewhere in an office that you had to physically go to in order to access a database or change the system we then moved to internet technologies where you can actually log in to the same computer but remotely and moved on to cloud computing which is probably where each one of us through devices like this were affected massively at home so cloud computing was or is the trend that is becoming the trend that was meaning we're moving on to more IOT sensor enabled technologies that allow us to connect with the physical world in a completely different way that combined with artificial intelligence combined with blockchain technologies or distributed ledger technologies as they're sometimes refer to enables couple in new business models and completely new ways to interact the estimation for the blockchain and IOT combined markets are difficult yet in 2024 it's estimated that the combination of both will hold a value of about three billion dollars which doesn't sound like much but judging from the past 10 years in IOT this is a faster development in my opinion than IOT actually held initially the important aspect about these technologies is that the combination of blockchain and IOT builds trust reduces the transaction cost and actually speeds transact transactions up so if we look into the past and looked at look at some of the difficulties and challenges that we face in IOT I can tell you that the discussions were were revolving a lot around should it be cloud computing which was we're all quite soon because if you connect 55 billion devices by 2025 you have you will struggle to connect all of them to a centralized server system so people talked about for a computing meaning computing or digesting of data closer to where where the users are the users in this case don't have to be people it could also be machinery it could be computers in your house computers on the go it could be drones you name it all this we do of course not just for the sake of doing IOT or for the sake of of using a block plane but if you combine IOT and distributed ledger technology with in the first step algorithms but later on with machine learning and AI you go towards a future that is what we call a machine economy meaning machines transact with machines in an automated fashion without human interference now where do we fit in as I mentioned earlier we build business models meaning we come up with ideas or we gather ideas or we we find people with ideas or we have partners that have ideas that could be solved or tackled with IOT and blockchain technology and when we have these ideas we we look into what kind of company we could build with that where the business model is where the revenue stream might be and we from our and put the technology behind it and that's where we come to three examples I want to get into then I have business cases that might use technology specifically a to in a way that is different from what most people might expect in Germany assist me and that sense is a company that that fervor well that has technically created an incontinence pants that is connected to the internet meaning simply put we have a diaper and one of our companies that can tell you when when you have to change a patient and it's important to know because patients and care homes nowadays face the problem that they're they're gonna be changed on a steady rhythm and not exactly when they have to be changed so you can extrapolate that to other services as well they get treatment when care staff have time to give treatment and not when they actually need treatment they get help when when care staff has time to give help and not when they actually need help and with a with sensor technology with IOT you can basically start customizing care to the patient this means in essence that you can care to patients when they need it but you can also reduce follow follow-up cost or follow on cost and in the healthcare systems so many many times sorry many times that you were in in the care home you get you get patients that don't get changed there soon enough and thus you have you have a full on illnesses that that come up and that the healthcare system has to deal with and that sends you reduce cost in the healthcare system and you you increase care for patients and well in a meaningful manner the next light that you already got to see is a idea that we had to connect sensor technology to snowboards so we held a hackathon not too long ago I think it was in April where we mounted a few sensor kits on top of snowboards in order to measure how people go down the slopes and we could reward them on a blockchain automatically so they could go on and buy their coffee and you know the APUs tree party or an alcoholic beverage if you won't like – we connected a coffee machine at the same time – the blockchain and we connected a few other things to the blockchain we had an app running so you could immediately also compare your results with the results of other people skiing down the slope and we did all this basically just to prove the point that we could create a ecosystem around a more entertaining entertaining idea the business model behind it will be more targeted to B to B to C meaning it's a very indirect remote approach but in essence it already worked and we just be looking for the right partners to get this off the ground you can take these insights transfer them to other areas I mean once you've got a a snowboard connected you can also connect other other items the third example is a logistics example so ever trace is a company that we found that works on the supply chain and logistics management and they they basically work in the Triangle of freight forwarders Kroger owners and service providers and they make the supply chain more transparent meaning you take for example sensor kit put it into a non discreet containers or not discreet goods on ships and you can tell whether were the goods like coffee or like chocolate we're transported the right way that gives you more transparency across the chain that gives you more reliability when it comes to to checking whether whether for example food or other goods or we're transport the right way they're still good to use as you may have noticed there are there are a few aspects that are recurring so we always look for partners that have two main know-how to get ideas of the ground with for example work with care homes on the incontinence pants we worked with a ski resort and and a wallet integrator on the on the snowboards and we work with insurance companies and freight management companies on the logistics and we always use founders or make use of founders because they are the talent driving the actual ideas so we like to work together with people who are driven who would like to get a new idea of the ground and we bring of course that technology into it so we have people that can help you get off the ground quickly with your technological idea we also help validate it and we also help look for partners so in essence when you have all these different different aspects you can start building new business models new business ideas that effect completely different areas not just the areas that in Germany people often think of in terms of industrial IOT or industry 4.0 but make use of the fourth Industrial Revolution in order to apply to all parts of life thanks thank you so much so what about you guys are we having any questions I'm still here well I get some just to start like right from the beginning where did you work before joining nbc15 industrial internet for things company relayer that was sold for 300 million u.s. dollars to Munich re right and then why did you leave I realized that there's more to do than just an industrial Internet of Things platform and I kept wondering on all the different projects that I worked on with corporates whether that's it I mean IOT is very easily applied to to industrial manufacturing but it's not as easily applied to other parts of society in the end I mean if you look at if you look at the diapers if you look at health care there's a lot of potential of IOT in healthcare but there are other reasons that keep it back not just IOT that said I also have come to realize that many people do not understand IOT well enough and how did you actually get in touch with doctrine and IOT that happened in the past two and a half years so working for NBT I was asked at some point to dig deeper into blockchain I mean it was literally what I subscribed earlier the in the past we always thought about IOT and how to process data in a way that you have to have gateways or network devices that then process data and blockchain basically is trying to do something similar but at the same time also can do it a lot more simply and a lot more trustworthy thank oh thank you so much thanks for having me of course you

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