bitcoin: The Internet of Things (IoT) and blockchain-based advancements in the payments industry were among the many themes explored at TRANSACT, a tech-centric, payments industry conference held on May 10ā12 in Las Vegas. A panel discussion entitled āHow IoT is Revolutionizing Paymentsā included a brief discussion regarding the emerging intersection between the Internet of Things and blockchain technology in this industry. On a similar trajectory as the blockchain, much attention has been given to the future of IoT, defined as an ecosystem of physical devices ā from mobile phones to wearable tracking sensors ā that gather and share electronic information with one another. Research firm IHS Markit (https://ihsmarkit.com/) estimates that 30.7 billion IoT devices will be communicating with one another by 2021. This complements a global blockchain technology market thatās expected to grow from $210.2 million in 2016 to $2.3 billion by 2021 according t...
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