Home security cameras or unmanned monitoring systems, are slowly becoming a thing of the past; we are now automating almost every home appliance to make our lives easier. Smart devices have taken control over home automation and by 2020, an average American home is expected to have at least 50 devices connected over Wi-Fi.
From remotely controlling thermostats to unlocking doors from our phones, home automation has taken a giant leap in this decade. The Internet of Things (IoT) makes it possible for us to control every appliance in our house.
Currently available cloud-based smart connections have several drawbacks. The servers are insecure and invite open communications due to weak passwords, incorrect authentications and negligent transport layer security or TLS.
Why we should invite blockchain technology into our homes
Imagine you are away on vacation and you want to let your neighbor in to water your plants. In the current smart system, it’s not possible to give selective-access; you give some access to the whole system through an app or not at all.
However, with blockchain technology, the user can micromanage his home appliances.
Although blockchain technology is best known as the technology supporting the storage and transfer of cryptocurrencies, the technology has uses far and beyond just fund transfer. The technology provides a transparent, decentralized and distributed platform to support data transactions.
Using blockchain technology, a user can easily control several aspects of his/her home security systems. Pointed access can be provided remotely and just as easily, revoked. For example, in the earlier case of providing access to the neighbor to water your plants, you could give temporary access to either your back door or front door and once you are back, turn off the access.
Blockchain technology constructs a dynamic system that works because of its decentralized nature. A centralized system wouldn’t function in this manner.
What are the other merits of a decentralized system?
Many home security providers and IoT companies find that switching to a blockchain technology system makes it easier to manage passwords and IoT accounts. Login functions are much faster, easier and safer. Froglabs, security company, is currently experimenting with the new technology and they predict that blockchain technology will fully infiltrate these services with 2 or 3 years.
An initiative called ADEPT makes use of a decentralized system for secure transfers and self-regulation on smart home appliances. Recently, ADEPT tested the new platform to enable a smart washing machine to order detergents using Bitcoins!
The machine gauged the detergent supply levels, established that the supply was running out and even negotiated with vendors for the best deals as per the owner’s instructions.
Comcast Labs plan to combine blockchain technology and home security to create a reliable and automated system for digital homes. The project will create a unique digital identity for each user on a permission based ledger. The ledger can be used to provide selected access to other individuals as well.
Blockchain technology will make the service verifiable by the prime user. Distributed security framework is the future of all services and blockchain technology is at the center of it all.
What do you think is the next big break-through from the new technology?