The evolving technological landscape has increased the available means for individual devices to collect, store, process and transmit data, also augmenting their capability to interact with their environments. Internet of Things (IoT) is the name given to the result of this new generation of interconnected devices and through it, a world of intelligent solutions has been envisioned, ranging from optimized garbage collection routes by detection of rubbish levels in containers, to remotely monitored pill cameras for patient diagnostics. However, a series of challenges still need to be overcome before IoT solutions can gain widespread acceptance and blockchain technology may present a viable approach to solve them.
Since October 2014, payment service Apple Pay can be used in combination with credit and debit cards of a partner bank in the USA. Additional markets, such as the UK, Canada and Australia successively followed. Following market entry in China during February 2016, the payment service has now been successfully established in five countries.
As technology becomes to an even larger extent the driver for innovation in all branches, being on top of emerging opportunities and staying ahead of disruption waves becomes crucial for organizations seeking to lead in their fields.