Block chain:is the distributed transaction processing engine that keeps track of Bitcoin and other crypto-currencies. The beauty of block chain is that it can be used for many purposes. Basically it’s a technology that allows data to be stored in a variety of different places while tracking the relationship between different parties to that data. So when it comes to the internet of things, Brody envisions it as a way for devices to understand what other devices do and the instructions and permissions different users have around these devices.In practice this can mean tracking relationships between devices, between a user and a device and even between two devices with the consent of a user. This means your smartphone could securely communicate with your door lock or that you could approve someone else to communicate with the door lock. Those relationships would be stored on the locks, your phones and come together as needed to ensure the right people had access to your home without having to go back to the cloud
simpaticotechnology.wordpress.com 