Blockchain for Big Data by Shaoliang Peng

Author:Shaoliang Peng [Peng, Shaoliang]
Language: eng
Format: epub
ISBN: 9781032063041
Publisher: CRC Press
Published: 2021-06-30T12:00:00+00:00

4.1.3 Docking Machine Economy

The Internet of Things is built on the Internet, the network that connects everything together. ‘Things’ in IoT means everything, which can be any ordinary physical object. As machines become more intelligent, the number of Internet-of-things devices and the value of their output will grow faster and faster, creating the need for a network of micropayments to connect and manage transactions between smart devices. A possible future scenario would be for the vending machine to notify an empty delivery truck to restock when it runs out of items. When the replenishment is complete, the vending machine automatically pays for the goods to the delivery truck. Blockchain technology can be perfectly applied to this scenario. Since the trust between machines cannot be handled, the trust mechanism brought by the blockchain technology to the third party can just make up for the lack of trust between machines. All this is not pure fantasy. IBM and Samsung recently came up with an application that would allow household appliances such as dishwashers to issue commands to detergent suppliers by executing smart contracts. Smart contracts give the device the ability to pay for orders, receive payment confirmation messages and shipping messages from the retailer, and notify the owner via ringtone alerts.

In a decentralised Internet of things, blockchain is the infrastructure that facilitates collaboration between transaction processing and interacting devices. Each blockchain manages its own behaviour and plays its own role, thus forming a ‘decentralized autonomous Internet of things’. Economic behaviour in the future may not only be limited to people or organisations but also to machines. Blockchain technology will open the era of the machine economy.

The future Internet of things will be an important source of big data. How to improve the quality of big data in the Internet of things and how to effectively screen, integrate, and process big data in the Internet of things is the key. The blockchain has the ability to play a huge role. The current Internet of things is still passive operation and data generation, the future further machine economy will be artificial intelligence. Where artificial intelligence goes beyond the Internet of things is that it can carry out active control and information screening, which greatly optimises the generation of basic data for big data, rather than collecting data indiscriminately like the Internet of things sensors. It can be said that artificial intelligence is the upgrade of the Internet of things. Or rather, a significant part of the traditional Internet of things will sooner or later be replaced by artificial intelligence. As can be expected, unarrived Artificial intelligence (AI) will become an important data source for big data. However, the high-quality information and services of artificial intelligence need to transfer the value generated by itself through the value-based Internet built by the blockchain technology more, and it will be more suitable for the blockchain network in terms of technology, and can even participate in various commercial operations of the value Internet with an independent identity. The

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