Fixing IoT security with Blockchain
As a fusion of the physical and digital worlds, the Internet of Things (IoT) debuted a decade ago and entered the innovation engines of countless businesses. The simple but remarkably unique idea of collecting data from the outside and communicating it over the Internet opened up a realm of possibilities for companies in the logistics, automotive and aerospace industries. The rise of autonomous vehicles, smart airports, intelligent transport management systems, IoT-enabled smart meters, real-time tracking and efficient asset maintenance are some of the most transformative benefits that companies from these sectors have derived from IoT. Paradoxically, the most powerful aspect of IoT has become the Achilles heel of businesses, from a security perspective. In a short amount of time, the ability to share data with anyone and any “thing” has turned into cybersecurity threats that security teams can’t keep up with. At a time when businesses are inundated with security attacks from all angles and channels, IoT helps to make this attack surface significantly larger.
More than ten years of building highly flexible IoT stacks and applications across various industries and use cases, the security challenges associated with malware and Distributed Denial of Service (DDoS) attacks continue to intensify simultaneously. Unpatched and less secure connected devices are some of the easy targets for such attacks.
Enter Blockchain
The induction of blockchain in the IoT space is changing the security narrative in businesses. By filling the security gap, blockchain has emerged as the most advanced and feasible way to secure billions of devices connected to the unwieldy internet. Many companies in France actively support the increased use of blockchain and associated business models. With buzzing use cases of the technology across the country, blockchain is now poised to transform the security posture in the IoT space as well. The technology introduces the concept of a central authority (distributed database) and empowers businesses with tamper-proof, ledger entries to lock down access to a range of devices and improve the scalability of IoT deployments. Immutable records distributed across different nodes allow users to monitor anomalous network behavior and performance anomalies seamlessly in real-time.
Blockchain, with its decentralized and encrypted nature, enables the verification and security of vulnerable devices and processes associated with the IoT, preventing the spread of inaccuracies or disruptions across the network. As a result, a DDoS attack on one device does not disrupt the functioning of others. Blockchain also empowers IoT ecosystems with cryptography, ensuring secure communication, anonymity and privacy. From a holistic perspective, blockchain offers the following benefits while securing an IoT network:
- Track connected devices in the IoT network
- Maintain secure data records
- To reach agreement to approve transactions
- Enables decentralization across the network
- Identify, authenticate and secure the devices
- Excluding intermediaries
- Building trust relationships between IoT devices and processes
- Reduce operating costs
Beyond the reach of conventional security solutions
The information game changer, blockchain, is rewriting the rules for IoT security in many industries. Here is a glimpse of how technology is shaping operations and improving business efficiency in:
- Logistics: Establish smart logistics management systems that demonstrate improved security, improved data availability, and efficient and fast tracking and traceability.
- Aviation: Contribute to aviation security and IP protection, and manage the replacement of parts on operational aircraft, protect aircraft records, maintenance statuses and other data.
- Car: Enhance autonomous and connected vehicles with features such as automated fuel payment, smart parking, automated traffic control; improved and secured data exchange between devices and platforms.
Change IoT security forever
IoT security loopholes will continue to evolve with ever-changing regulations in France. Nevertheless, the possibility of strengthening IoT security with blockchain has great potential. As an ally to global businesses, Tech Mahindra can empower French businesses with its in-depth technical expertise in the blockchain and IoT landscape. From enabling business strategies and system integrations to implementing plug-and-play platforms, Tech Mahindra can help businesses gear up for the new era of cyber security and stay abreast of the latest developments to maintain their competitive edge.
About the author
Philippe Ly Cong Trinh
Vice President and Country Manager – France, Enterprise Business, Tech Mahindra
Philippe is Vice President and Country Manager – France, Enterprise Business, Tech Mahindra, and is responsible for P&L, subsidiary management, sales strategy and international account management, market making, delivery and operations, as well as penetrating new customers. With over 26 years of business and IT industry experience leading sales teams, delivery, managing CXO relationships across Europe, he has a proven track record of delivering results that exceed internal targets and customer expectations.
