Smart Data, Blockchain and the IoT (Internet of Things)

by | Aug 25, 2022 | Blockchain, Data, IOT, Technology | 0 comments

Andrew Ritchings is a Family Office Consultant and Private Investor at Thomas Kelly Holdings

No matter what business you own or run, securing your data is a big challenge, and you should be constantly reviewing your privacy and security framework to ensure it is up to date and completely protected. With fines of up to £17 Million or 4% of Global Turnover if they breach the rules, business’s face an ongoing and significant challenge which should be embraced.

What is Blockchain?

Apart from the obvious association with Cryptocurrency and Bitcoin, Blockchain and IoT (Internet of Things) is the next Industrial Revolution. This has been happening and quietly present in our lives for some time now. Blockchain is a ledger (compare it to a global spreadsheet) that allows users to record and transact in real-time and each transaction is verified simultaneously by all components end to end. IoT has been around and in use in everyday products from the car that knows when its next service is due to Smart Homes and Appliances. Data, Data mining and Blockchain are here to stay and as they evolve at lightning speed the applications and ideas create new opportunities for us all.

Those forward-thinking companies that embrace change and consider the client experience and perception, will thrive. These companies understand that uninterrupted communication and security of data is paramount. Company and Personal data is valuable and needs to stay safe at all costs.

Blockchain will play a significant part in the Secure Data-driven world we now live in.

All of us need to understand what Blockchain is and embrace it for this is the future of almost every aspect of our lives, business and personal. Almost anything involving transactions can be recorded on the Blockchain and shared in a secure and tamper-proof way.

Those companies particularly Data Companies that are engaging with Blockchain, are companies that will grow exponentially. These companies will be very investable!

Data is King ‘Data is the new gold’ as quoted in the Economist magazine.

Fund Managers UHNW individuals and some Family Offices are already exploring the possibilities of the investment opportunity and that is certain to grow as we move on through the next few years.


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