report, “Device Democracy: Saving the Future of the Internet of Things,” IBM identified the value of the blockchain: In our vision of a decentralized IoT, the blockchain is the framework facilitating transaction processing and coordination among interacting devices. Each manages its own roles and behavior, resulting in an “Internet of Decentralized, Autonomous Things”—and thus the democratization of the digital world . . . devices are empowered to autonomously execute digital contracts such as agreements, payments and barters with peer devices by searching for their own software updates,
...more
