Posted 1 year ago | by Ben Armstrong

Blockchain Technology Used in Combination With IoT May Create Safer Systems

Blockchain is having a greater impact on many areas of life. With security capabilities, the technology is expected to create transparent applications to empower the security of Internet of Things (IoT) systems.

The IoT era may be in its infancy, but security threats have been around since the technology first went into public use.

Understanding the importance of data security, IoTeX, an IoT privacy-oriented platform has teamed up with the high tech camera brand Tenvis Technology to introduce Ucam, a blockchain-powered indoor surveillance camera.

The new device will include a private key for access, using digital signatures to ensure the authenticity.

Blockchain and IoT Make Sense Together

The Ucam camera is designed to provide a secure process to camera data for users through a decentralized system and an “uncrackable” password, according to Larry Pang, business development director at IoTeX.

The camera or mobile phone manages all computing, which ensures that users can decrypt their private data on the devices.

Pang explained,

“A private key is used to end-to-end encrypt all the data...We need to have technology that guarantees our privacy and our ownership instead of terms and conditions and policies.”

Security violations have posed challenges in the internet-based surveillance industry but the new camera will offer professional-level security solutions to prevent that problem.

More Ideas to Address New Threats

In December, Amazon's Ring users reported a variety of privacy infringements, including cyber criminals using the device to threaten people.

Earlier this year, Google Nest users reported similar incidents, one involving a disturbing moment in a 2-year-old girl’s bedroom.

“These kinds of hacks are all ‘walking through the front door,’” said an IoTeX exec. “They’re password-based hacks, where they’re brute-force hacked. An 8-character password can get breached in a few minutes.”

Ucam attempts to provide home surveillance by use of blockchain technology through the end-to-end encryption typical of cryptocurrencies.

Pang noted that even non-tech Ucam users would see the advantages of the technology. The security camera system gets users fully featured with its concept of – "not your keys, not your coins.”

He continued,

“What better kind of daily life problem is there than peace of mind and privacy? That’s the first kind of intro for people to crypto.”

As stated by the IoTeX exec, the underlying technology will focus on providing a whole new way to engage digital currency for those who find it complicated.

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About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Blockchain Technology Used in Combination With IoT May Create Safer SystemsBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.