Internet of Things - Cryptos

Ø   The phrase Internet of Things (IoT) was first coined in year 1999 by Kevin Ashton, cofounder and executive director of the Auto-ID Centre at MIT. Ø   The concept is to connect all the devices through the internet, so they will be able to communicate with each other. This includes everything from cell phones, cameras, washing machine, lamps, tv, wearable devices and almost everything.                                                                                      (or) Ø   The Internet of Things is a giant network of Physical devices, Vehicles, Buildings and so on embedded with electronics, software, sensors and network connectivity that enable these objects to collect and transmit data via the Internet. It has not only the potential to impact how we live but also how we work. Ø   The first appliance connected to the internet was a coke vending machine at Carnegie Melon University in the late 1980’s. Developers could easily check the status of the machine.

By 2019, 1.9 billion smart home devices are expected to be shipped. This could bring a potential revenue worth $490 billion. IoT smart devices have a deeper penetration in manufacturing, healthcare, and business than in our homes or phones. By 2025 the global worth of IoT tech is projected at $6.2 trillion, with the maximum value from healthcare ($2.5 trillion) and Manufacturing ($2.3 trillion). The number of internet connected “things” already exceeded our population back in 2008. By 2020 this number is expected to reach 50 billion. A whopping $19 trillion is anticipated as cost-savings and profits from this investments. The potential for future growth is massive. Only 0.06% of all the devices that could potentially leverage IoT are actually doing so. This makes the remaining 99.94% available for optimization. Of all the business who chose to implement IoT, 94% have already seen a return on their IoT investments. The market for sm