Blockchain technology may be the “secret sauce” that will drive the adoption of 5G. That's what Forbes columnist Sean Stein Smith says.
In an article published on August 12, Smith points out that while blockchain is not perfect, it is well positioned to solve some of the current problems in the technology space.
Technology can redefine the economy
According to Smith, technology tools and applications have the potential to redefine the economy. And blockchain, in turn, will need to play a leading role.
The author stressed that there are numerous technological solutions, such as autonomous cars and smart devices, that are becoming popular and demand confidence.
According to him, for these inventions to operate as advertised and create the predicted economic growth, the information that underlies these inventions must be secure.
"The malfunction of a smartphone can be an inconvenience, but if autonomous cars are hacked or other industrial devices connected to a 5G network are hacked, it can quickly become a dangerous situation for all parties involved," he said.
In that sense, Smith noted that there are specific components of the 5G economy that directly depend on the successful implementation and integration of the blockchain
Data security
As the author explained, data security is perhaps the most obvious connection between blockchain and the 5G economy.
That's because, as more data and information is communicated wirelessly between sensors, devices and other tools, the importance of keeping them safe is paramount.
In addition, he said, blockchain is a "logical extension" of current technology trends. The author cites mobility, transparency and data analysis as benefits.
Blockchain is the “secret sauce”
In this context, for Smith it makes sense to increase the adoption and implementation of 5G tools and platforms to accompany the broader implementation of blockchain technology .
" Blockchain, although not a perfect tool, is well positioned to solve some of the problems that currently exist in the technology space and can prove to be the secret sauce needed to drive the adoption of 5G," he concluded.
Thank you, That was very informative and cleared a lot of doubts.This is simple yet comprehensive explanation. Thanks for making this useful post..