By doing so it would allow virtual time travel by letting regulators rewind to the point when the problem occurred and see just what happened.
IBM is still in the very early stages of developing this project that brings together the company’s Internet of Things Foundation and Watson divisions to create the Watson Internet of Things group, which is attempting to marry those technologies with the emerging blockchain technology that underpins the bitcoin network.
One of the potential applications of the technology would be to create a register of IoT devices based on the blockchain, with artificial intelligence programs then used to perform automated self-diagnoses and more advanced functions, which could eventually lead to the ability of engineers and regulators to virtually rewind the clock to go back in time and see at what point a smart device failed and see exactly what went wrong.
Blockchain is a distributed ledger protocol that allows for the transparent registration of items or transactions and was first developed for use in the bitcoin network. It is now being developed across a diverse group of industries for a wide range of services including banking, stock trades, real estate and even tracking diamond sales globally.
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