Jason Hope View on Convergence of the Internet of Things and Cryptocurrency
John Hope is a futuristic technology entrepreneur from Scottsdale Arizona. He studied for a degree in finance in the Arizona state university. John Hope is a philanthropist and inventor.
John Hope recent action of philanthropy was the half million dollars donation to the SENS foundation. The donation was meant to support research in rejuvenation bio technologies and fight against age-related diseases in the society.
Rejuvenation biotechnologies are the future for human medicine. He has a deep passion for technology and has been giving insights into the futuristic technologies including the internet of things and cryptocurrency, and Jason on Facebook.
In his recent article on the internet of things and cryptocurrency, he seeks to call for a smooth combination of the two. He sees the unnecessary tension which is existing between the cryptocurrency supporters and the opponents.
— Jason Hope (@JasonHope) March 15, 2016
While growth in technology has critics and supports, both must come to a joint end with agreements on how to best use the technology. The cryptocurrencies such as Bitcoin has grown separately to become a billion dollar market.
The internet of things will stand at billions by the year 2020. It has come to such a time that is not possible to separate the two. The big question is how the world prepared for the two?
The critics have it that cryptocurrency is not controlled or backed and therefore volatile. Bankers such as JP Morgan Chase & Co CEO Jamie Dimon have come out strongly condemning it as not a real thing that will be closed. Conventional bankers may condemn cryptocurrency in such strong terms since they have nothing to gain from it. However, cryptocurrency is not that easy to close considering that it has grown naturally without any control and no one can be held for any damage resulting from trading or using it.
Another concern has been on the legal protection on the cryptocurrency. If one steals your Bitcoin, are you protected by the law? Developers are yet to create or develop sufficient devices with the computing power for advanced encryption, and more information click here.
The success of the blockchain, an online ledger tracks digital transactions in real time provides confidence for cryptocurrency supporters. It acts by barring existence of any central corruptible database. The system is everywhere and nowhere at any given time. The Internet of Things (IoT) manufacturers will, however, take the protection of their customers to their hands in the meantime. They should adopt digitally signed and encrypted firmware.