There’s been a lot of hype surrounding the Internet of Things (IoT). And for good reason!
Thanks to decreasing broadband costs and faster connection speeds, the process of connecting just about anything electronic to the internet is fast becoming a reality. The fact is …
Almost any device with an on/off switch can be fitted with a Wi-Fi-enabled sensor that will connect it to the internet.
That includes not only smartphones but also coffeemakers, cars, refrigerators, thermostats, streetlights, televisions and even oil rigs at the bottom of the ocean. Plus, it could also include almost any item in your home, on a store shelf or on a factory floor.
In 2017, there were 8.4 million internet-enabled devices in the world. But that’s just the tip of the iceberg. Gartner predicts that number will grow to 26 billion by 2020 and could hit 500 million — or more — by 2030.
The problem is that each and every one of those interconnected devices is vulnerable to a cyberattack that will compromise your personal security and privacy, including:
• Physical device attacks (unauthorized device control)
• Software attacks (malware such as viruses or worms)
• Network attacks (Denial-of-Service, or DoS, assaults)
• Encryption attacks (brute-force password cracking)
Sure, big firms devote hundreds of millions of dollars to cybersecurity, but it’s obviously not enough to thwart major attacks.
And what about sweatshop factories around the world that manufacture most of the world’s electronic devices? Do you think some no-name, third-world company can spend big bucks on protecting the security of your passwords, bank accounts or medical records?
In short, the IoT has a big problem: The bigger it gets, the more vulnerable it becomes. Fortunately, blockchain technology is riding to the rescue.
Forget the Internet of Things! It’s
the CHAIN of Things That Will Prevail!
Blockchain is an encrypted, distributed computer filing system
designed to allow the creation of tamper-proof, real-time records. It’s precisely what the Internet of Things desperately needs to protect its security.
Blockchain technology provides the infrastructure for two devices to directly transfer data or money between one another with complete security.
Without that security, the Internet of Things is just an open door to cybercriminals and cybersleuths.
Companies like IBM, SAP, Accenture and Bank of America are spending billions on blockchain initiatives. And whenever the biggest companies in the world start spending billions of dollars, there are some serious stock profits to be made.
Square Corp. (SQ), for example, is one of the core holdings in our Weiss Ratings Crypto Investor. It’s up by more than 200% in the last year … and up 30.6% just since I recommended it to subscribers in July!
As you can see, blockchain-based stocks have every bit the profit potential as cryptocurrencies, which is why my co-editor, Juan Villaverde, and I recommend a combination of cryptocurrencies and blockchain-focused stocks. To see Martin Weiss’ introductory video about our new service, just click here.