The auditing firm KPMG joins the Trusted IoT Alliance. Verbund is working to link Blockchain and IoT to pave the way for Industry 4.0.
With the auditing firm KPMG, the Trusted IoT Alliance receives prominent reinforcement from a “Big Four” company. As KPMPG LLP announces in a press release, it hopes to leverage the synergy effects of the two technologies by working with blockchain industry and Fortune 500 companies.
Blockchain and IoT: Revolution in the next three years
This particularly concerns the factor of data security.
“Our membership in the Trusted IoT organization brings together key players in the business transformation and technology sectors to develop a secure and standardized block-based IoT framework that will enhance the value of these new technologies for both KPMG and Microsoft.” increase our customers while enabling us to improve data security between IoT devices and networks,
Arun Ghosh, head of blockchain at KPMG, describes the company’s expectations in the press release.
Welcome @KPMG to the @ Trusted_IoT Alliance. We look forward to working with @KPMGBlockchain and the rest of the team to advance this space with actionable innovation! Https://t.co/YUImiLokf5– Anoop Nannra (@anannra) May 1, 2019
That the customer’s interest is certainly present, a KPMG survey of industrial leaders, to which the press release relates. Between December 2018 and January 2019, 740 technology executives referred to Blockchain. Nearly one in two respondents believe that the blockchain will bring about changes in the operational business. Especially in the area of the Internet of Things (IoT) the blockchain will be used in the next three years.
KMPG blockchain boss Ghosh also skirts this notch when he says:
“The combination of IoT and Blockchain enables us to create better transparency between the parties, track service delivery using sensor data and intelligent payment automation contracts, and provide real-time traceability of products with secure data aggregation across the supply chain and several other use cases.
Bitcoin also holds potential
However, KPMG sees enormous potential not only in blockchain technology but also in crypto assets such as bitcoin. This is what the auditing company recently explained in its report “Institutionalization of Cryptoassets”. Co-authored with Bitcoin’s Coinbase, Fundstrat and Morgan Creek Digital, the Big Four company Bitcoin said it has what it takes to become a ubiquitous innovation in the global financial system.