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The Internet of Trusted Things: Blockchain as the Foundation for Autonomous Products & Ecosystem Services

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This Kaleido Insights report identifies the enterprise opportunities from the convergence of IoT and Distributed Ledger Technologies. This abridged presentation explores its key themes through graphics. Download the full report at www.kaleidoinsights.com/reports/internet-of-trusted-things-blockchain

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The Internet of Trusted Things: Blockchain as the Foundation for Autonomous Products & Ecosystem Services

  1. 1. The Internet of Trusted Things Blockchain as the Foundation for Autonomous Products & Ecosystem Services January 2018 This KaleidoInsights report identifiestheenterprise opportunities from the convergenceof IoTand Distributed Ledger Technologies. This abridged presentation explores its key themes through graphics. Download the full report here. Jessica Groopman Jeremiah Owyang
  2. 2. Despite recent growth of connected devices and networked services, the lack of shared architecture to interconnect––never mind authenticate or monetize––distributed machines limits value and business model success. Distributed Ledger Technology’s (DLT) role as an enabler of the Internet of Things (IoT) lies in its ability forge trust, not only at the product level, but across an ecosystem of untrusting constituents.
  3. 3. EXECUTIVE SUMMARY From wearables to wind turbines, the application of sensors on the ‘things’ around us has become ubiquitous. With a projected 10 billion more devices coming online in the next 4 years and some 44ZB of data owing from them, such an internet of intercommunicating objects requires a secure and efficient way to track the identities, interactions, transactions, and activities of every “thing” in the network. Business and innovation leaders may be connecting their products, but most still struggle with service-based business models. The shift from material-based economies to information-based economies means value is now defined by how an entire ecosystem of constituents integrates, protects, and leverages product data contextually. Yet, there is no universally shared architecture to interconnect, never mind authenticate or monetize distributed machines. Meanwhile, a recent advancement in record-keeping technology,known widely as blockchain, introduces intriguing solutions. This Kaleido Insights report analyzes the enterprise opportunities for blockchain-IoT convergence supporting trusted machine identity, interactions, and transactions. Our research finds that, if developed for scale, blockchain (often generalized as ‘distributed ledger technologies’ (DLT)) could offer IoT a level of interoperability, transparency, and security currently absent from today’s architectures, but essential to ecosystem-driven business models and autonomous products and services.
  4. 4. Source: KaleidoInsights The Internet of TrustedThings: Blockchain as the Foundation for AutonomousProducts & EcosystemServices THE INTERNET OF THINGS AND BLOCKCHAIN FACE COMMON CHALLENGESAND MARKET DYNAMICS
  5. 5. Use Case Overview
  6. 6. Source: KaleidoInsights The Internet of TrustedThings: Blockchain as the Foundation for AutonomousProducts & EcosystemServices BLOCKCHAIN SUPPORTSIoT PRODUCTS ACROSS THREE USE CASE CATEGORIES
  7. 7. SCENARIOS IN WHICH PRODUCT IDENTITY SUPPORTSTRUST ACROSS THE ECOSYSTEM Source: KaleidoInsights The Internet of TrustedThings: Blockchain as the Foundation for AutonomousProducts & EcosystemServices
  8. 8. Source: KaleidoInsights The Internet of TrustedThings: Blockchain as the Foundation for AutonomousProducts & EcosystemServices SCENARIOS IN WHICH PRODUCT TRANSACTIONS SUPPORT TRUST ACROSS THE ECOSYSTEM
  9. 9. SCENARIOS IN WHICH PRODUCT INTERACTIONS SUPPORT TRUST ACROSS THE ECOSYSTEM Source: KaleidoInsights The Internet of TrustedThings: Blockchain as the Foundation for AutonomousProducts & EcosystemServices
  10. 10. Source: KaleidoInsights The Internet of TrustedThings: Blockchain as the Foundation for AutonomousProducts & EcosystemServices USE CASES FOR BLOCKCHAIN-IoT CONVERGENCE INVOLVE BOTH PRODUCT AND ECOSYSTEM
  11. 11. From the Internet of Things to the Internet of Value
  12. 12. Source: KaleidoInsights The Internet of TrustedThings: Blockchain as the Foundation for AutonomousProducts & EcosystemServices IMPACTS OF BLOCKCHAIN-IoT CONVERGENCE WILL COME IN WAVES
  13. 13. Although these technologies are nascent, the sooner organizations understand their potentials and risks, the faster and more secure their development. Kaleido Insights recommends businesses of all types take the following steps towards practical blockchain application. Access the full report for thematic recommendations to help apply the above insights. Below, a preview: q Lay the Groundwork for Grassroots Ideation q Engage Across Community to Foster Ecosystem Collaboration q Contribute to and Derive Value from Open (Source) Ecosystems q Plan for Hybrid Architectures & Interoperability q Consider UX When Defining Use Cases Across Partners q When it Comes to “Blockchain Strategy” Invest Broad, Test Narrow q Blockchain isn’t the Only Show in Town BEST PRACTICES FOR ECOSYSTEM ENABLEMENT IN THE EARLY DAYS OF BLOCKCHAIN
  14. 14. DOWNLOAD THE FULL REPORTAT http://www.kaleidoinsights.com/reports/internet-of- trusted-things-blockchain
  15. 15. THANK YOU! Jessica Groopman Automation Strategy Jeremiah Owyang Monetization Strategy Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions expressed herein are subject to change without notice. CONTACT US: INFO@KALEIDOINSIGHTS.COM @KALEIDOINSIGHTS WWW.LINKEDIN.COM/COMPANY/KALEIDOINSIGHTS

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