Blockchain Internet of Things:
As blockchains and sidechains increase rapidly, there are several important implications for the Internet of Things and the development of Smart Systems. Blockchain technology could provide a way to track the unique history of individual devices, by recording a ledger of data exchanges between it and other devices, web services, and human users.
Examples include electronic couriers to securely transfer sensitive information, escrow services to transfer ownership rights, or even auto-installation services to verify and push updates to the software governing other Digital-to-analog converters (DACs).
Interesting startups in this field:
Chimera-inc: Chimera connects the Internet of Things to real-time analytics performed on the edge node. It is a hub that links the home network to the cloud and electrical devices around it.
Filament: Filament is building a decentralized IoT stack to ensure that devices can securely communicate and transact value without any infrastructure. Filament builds sensors (called “Taps”) that are used by companies such as Amazon and Space X.
I think IoT with its capabilities has the ability to redefine the scope and possibilities in the financial technology sector. Frauds and other discrepancies would be easily detectable and prevented with all electronic trace being maintained in any kind of financial information exchange. Large corporations are heavily investing in this domain to be the first to market.
Reference: https://everisnext.com/2016/05/31/17-blockchain-disruptive-use-cases/