Over the past decade, there have been an increasing amount of connected devices making up the internet of things (IoT). This network provides increasing benefits by connecting devices and people around the world and collecting data which can be used to personalize products and services. The lack of transparency in current IoT platforms brings into question data security and privacy, which continue to be significant issues in light of GDPR laws enacted across Europe. As increasing amounts of data are collected on centralized platforms, data storage costs will increase and ultimately become inefficient to handle.

Source: Crypto Case Study: Internet of Things – Crypto Disrupt