A joint report from Deloitte and RIDDLE&CODE outlines that Blockchain technology appears today as the most suitable and efficient way to generate, monitor and exchange digital twins in a fast growing billion-dollar industry
Digital Future: Blockchain brings digital twins for the Internet of Things to life.
How Blockchain technologies facilitate the application of digital twins in IoT
This Point of View focuses on how the Internet of Things, particularly digital twins, can be combined with Blockchain and its distributed ledger technology, which provides the required security and transparency to serve as a commonly shared platform. Currently, most information generated within the IoT ecosystem is stored in fragmented data silos. This fragmentation needs to be abolished and replaced by an integrated ledger technology, like the Blockchain, in order to truly leverage the benefits provided by digital twins. Therefore, a newly introduced framework model, the Blockchain-User Interaction Model, is used to demonstrate the requirements and benefits of, and relationships among, stakeholders. Illustrated use cases further support how digital twins benefit from connecting Blockchain technology with crypto hardware.