People who have been in Times Square in Manhattan these days will see the words Blockchain at the Nasdaq’s big screen at the crossroads of the world.
If you slow down and think about the meaning of those flashing words on the neon boards, you may find a fable of an era renewal.
As of right now, the city’s century long stale systems and even Wall Street’s Old Money are making way for the blockchain.
One of the large names now is“Penta Global Foundation”. Penta has completed PNT’s strategic investment internet of things (IoT) company “CCP Technologies” and has become one of the largest shareholders of the CCP. As of August 8, 2018, Penta has released approximately 87 million PNT. CCP will gradually release within the next 12 months.
Penta’s Logo design is inspired by the five-pointed star in Greek mythology, which means the exchange of virtual worlds and real worlds through blockchain technology. Penta’s vision is to achieve the interconnection of the five dimensions of subject, trust, value, circulation, and scene, and to become a connector between the blockchain and the real world.
This is the first time in history a token was used to acquire the equity of a listed company.
In another perspective, this is the first example of close cooperation between blockchain and IoT.
The blockchain expects more DAPPs to connect with business scenarios, and IoT faces the dilemma of centralized data. There is common ground between the two and they work together wonderfully.
In 2017, the Botnets of Things, built by Mirai in the United States, infected more than 2 million IoT devices such as cameras. The DDoS attack jeopardized many popular services such as Dyn, Twitter, and Paypal, and was even rated as one of the top 10 breakthrough technologies by MIT Technology Review.
Thus the emergence of blockchain is the knight in shining armor to IoT.
From another perspective, the significance of Penta’s acquisition of CCP is not only a cooperation of “blockchain and Internet of Things”, but may be more reflected in pioneering the nature of digital currency. They are the first to acquire the equity of a listed company by token, and will not be the last.
However, blockchain technology is still in its infancy, and the cooperation between blockchain and Internet of Things will encounter different challenges in all aspects.
From the perspective of the development of the Internet of Things, distributed architecture requires a consensus mechanism to ensure the ultimate consistency of data. Compared to the existing centralized architecture, resource consumption cannot be underestimated.
Blockchain is a data storage technology that can only be added to and cannot be deleted. For IoT devices, storage space becomes a key issue.
This is of great significance to both the token market and the mainstream financial capital market. Tokens are growing out of the crypto market, and moving to a broader capital market platform.
For IoT to truly “fit” with the blockchain, we may still be waiting for a major breakthrough.
