Connected World: How 5G will help us all get to a blockchain-based society

By Mehab Qureshi

Over the past few years, we’ve seen Internet of Things (IoT) adoption grow like never before. More and more businesses are integrating IoT devices into their company and customers’ lives. However, there is still a lot of untapped potential for these systems. At their core, IoT devices and sensors can only do so much. The technology that drives them is quite outdated, and it prevents further development. Fortunately, there is something coming soon that will not only unlock further potential, but revolutionize entire industries: blockchain technology and 5G connectivity.

Let’s start by reviewing what 5G technology actually is. 5G, or fifth generation wireless, is the next major wireless standard after 4G LTE. The idea behind 5G is to create a much more high-speed network that will be able to handle significantly more data than our current data networks. “The higher speed and capacity that 5G offers means that it will be easier to integrate blockchain technology and IoT devices. With today’s 4G networks, IoT devices face many problems with communication and management. By using 5G, these devices should be able to communicate with each other much more easily. In other words, blockchain-based IoT devices will be able to exchange information with each other with 5G technology, says Prashant Malik, founder and CEO of Heru Finance, who is recognized as the inventor of Apache Cassandra, the distributed database used by Netflix, Meta and more global businesses.

The Internet of Things involves connecting everyday appliances and devices to the internet to make them more useful. IoT devices can be anything from your car to your smart TV or your coffee machine. The problem is that these devices aren’t really that smart. “That’s where blockchain technology comes in. Blockchain technology, such as a decentralized ledger, is a peer-to-peer system for recording and executing transactions. This makes it ideal for situations where there are multiple parties involved in a transaction, such as IoT devices Blockchain technology will make it easier for IoT devices to communicate with each other and manage data in a secure and seamless way, notes Malik.

One instance of using 5G in blockchain may involve vehicular networks to enable the sharing of traffic information. For example, two vehicles on the road will be able to share information with each other and provide information such as safety warnings. This can be effective in avoiding accidents and traffic congestion. However, this data may be used by third-party companies that may spam you with advertisements. The implementation of blockchain can solve this problem.

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Experts also believe that blockchain combined with 5G has the potential to disrupt the telecom industry. One of the major challenges facing the telecoms industry today is generating bills when a user travels abroad. The prices for international roaming are exorbitant, this is because there are several parties involved in ensuring that you get access to the mobile network. Not only is this expensive, but it also makes it inconvenient for Internet Service Providers (ISPs).

Blockchain technology can be used in various industries. This can be useful in industries such as fashion where consumers want to know where their clothes come from. “Using blockchain technology will make it easier to track and authenticate goods. It can also be used to improve inventory management. For example, if one of your suppliers is out of stock, you can be notified in real time when the blockchain system detects it,” he said.

One of the biggest reasons for implementing blockchain technology in the supply chain industry is increased transparency and security. “One of the most useful uses of blockchain technology is tracking the movement of goods. If a product is shipped overseas, it can be difficult to know exactly where it is and when it will arrive. By using blockchain technology, companies will be able to track every step of the journey , explains Malik.

The future is certainly exciting thanks to 5G and blockchain technology. These two technologies are expected to revolutionize industries and change the way we live.

FLOW FORWARD
5G is the next major wireless standard after 4G LTE
5G networks have higher speeds and greater capacity
Blockchain with 5G will revolutionize the supply chain of the telecom industry
With blockchain technology, all your data is encrypted and can only be accessed by those with permissions