Blockchain is pioneering technology related to the Internet of Things, and that's bad news for Big Tech companies.
Big Tech has built trillion-dollar empires selling user data. Blockchain can change that by democratizing the data and machine economy.
Everyone in the crypto space knows about proof-of-work and proof-of-stake, evidence provided to the blockchain to receive a reward or permission. If a Bitcoin miner proves they have solved a computationally intensive problem, they become eligible to be the next block producer. For Ethereum, if someone stakes a certain amount of Ether , they qualify to become an Ethereum validator.
Smart devices and machines on the blockchain will provide an opportunity to return data ownership to the people, enabling them to do what they wish with their property — including monetizing it. Blockchain-based IoT projects offer greater trust, security, interoperability and scalability than their predecessors, and they generate new efficiencies and business value by drawing on the data supplied by IoT devices and sensors.
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