The Internet of Things (IoT) is an important part of a new generation of information technology, and an important development stage in the information era. IDC predicts that the worldwide market for IoT solutions will grow from USD 1.9 trillion in 2013 to USD 7.1 trillion in 2020, along with 6.7 billion IoT device shipments in 2019, representing a compound annual growth rate of 61%. The McKinsey Global Institute estimates that by 2025, the economic scale of IoT applications will be between 3.9 trillion and 11.1 trillion USD.
Today's IoT systems are developed around a centralized architecture, and equipment and machines are configured on the cloud through centralized servers. With the rapid expansion of IoT networks, sensors and device nodes have joined the network at a scale of billions, increasing the complexity of the entire network. By the end of 2020, there will be 130 billion web-connected devices, and basic security risks will increase exponentially as a result.
Therefore, future IoT system designs need to leap from an expensive centralized architecture to a decentralized, distributed and autonomous ecosystem to improve parameter security. Such an ecosystem can provide a reliable environment, achieving cost reduction, equipment autonomy, platform scalability, and operational safety, all while preventing cyber-attacks.
UCOT is a structured ecosystem that combines the latest blockchain technology and 5G communication solutions. It is designed for the next generation of smart IoT platforms, and solves the authentication, security and interoperability aspects of supply chains and IoT. Their proposed solution can help companies deal with equipment verification and authorization challenges, and help protect the network while eliminating the dependence on centralized management. UCOT can enable different enterprises and users on the same supply chain to improve the tamper-resistant and interoperability characteristics between supply chain nodes to improve efficiency, reduce operating costs, strengthen authentication, and protect data privacy.
Established in 2017, UCOT is an industrial tech company focusing on blockchain and IoT, and also offers smart supply chain solutions for all industries. The team aims to build the best ecosystem to enable supply chain management and smart IoT systems, thereby automating value transfer to achieve the most effective process of equipment-to-device control.
The Intelligent Connection of All Things
IoT can track items in the supply chain in real time and can change our lives with its huge potential economic benefits. The lack of data security and trust is severely limiting the development and application of IoT.
Blockchain technology can overcome these challenges through features such as immutability and transparency. UCOT aims to develop a smart IoT security ecosystem based on blockchain technology to improve the traceability of supply chains to achieve secure data collection, tamper-proof storage, and the sharing of trusted data within the supply chain.
The UCOT system can be applied to the next generation of smart supply chain, in which the blockchain-based smart IoT can track supply chain logistics, and use smart contracts to manage commercial transactions while realizing commodity logistics management. All data can be shared in a safe and trusted manner throughout the supply chain.
UCT as a Value Carrier
UCT is a token used to power the UCOT ecosystem. If you want to use the services within the UCOT ecosystem, you will need to do so with UCOT's exclusive token.
If a business ecosystem is an organism, then blockchain is the skeleton, and various applications and services are the muscles and organs. However, the body cannot work without blood circulation. Therefore, "tokens" are essential for value transfer between parties in the UCOT ecosystem. All relevant parties and service providers need UCT tokens to initiate transactions and execute smart contracts.
At present, the core technology of the global IoT industry continues to develop, and a standard system is being constructed. The industrial system is in the process of establishing and improving, and the global IoT industry is in a stage of rapid development. UCOT has supplemented and guaranteed the security of the IoT industry and the reliability of future development. The UCOT ecosystem will continue to improve at the technical and user levels, opening the door to an era of intelligent connection of all things for global users to enjoy the dividends brought about from the integration of blockchain and IoT technology.