Are our laptops and smartphones the only devices connected to the large virtual space, the internet? Certainly, not! The internet, as we know today, connects a diverse range of devices that are built to make life more convenient.

The hyperconnected space has given birth to a new ecosystem which we call the Internet of Things. It is a digital realm that powers our smart watches, smart cars, smart home appliances and even a smart home itself.

Gartner, a leading research and advisory firm, has predicted that over 20 billion devices will be connected to the IoT ecosystem by 2020. In fact, a report by Business Insider forecasts that business spending on the technology will hit around $6 trillion by 2021.

Source: Role Of Blockchain In The Internet Of Things: SWOT Analysis | HuffPost UK