of 5G deployment in India launched this month, and the technology is sure to have a major impact on how we serve consumers and businesses. While the previous generation of cellular technology (2G to 4G) was all about faster data speeds, 5G promises to change her DNA of user experience.
Experts believe 5G will be a potential enabler leading to widespread adoption of blockchain technology in several aspects such as trade finance, logistics, healthcare and education. Capacity will enable the widespread use of Internet of Things (IoT) devices. This means that sensor-driven extensions for smart cities, driverless vehicles, smart homes, and other industrial use cases will ultimately have the technology to serve their unique needs. ” Tech Panel.
The IoT is internet-connected devices ranging from laptops and smartphones to heavy industrial machinery. These devices are integrated with advanced chips and sensors, allowing them to communicate and seamlessly exchange information over the Internet. 5G promises great potential for his IoT devices, as the ultimate goal is to reduce network bandwidth and enable communication between devices. His current IoT model is centralized and therefore owned by one entity, making it more at risk for wider adoption. This is where blockchain comes into play. Blockchain promises decentralization. This means that no one controls the behavior of these devices, all data transfers are recorded on a distributed ledger, and users have complete control over their privacy. This is not possible with his 4G.
“4G has not been able to fully meet the latency and density demands of this ecosystem. It also enables a proximity-driven approach that supports an ecosystem of smart applications,” said Dr. Ravi Chamria, CEO and co-founder of the Blockchain Infra Automation platform. indianexpress.com.
One example of using 5G on blockchain could include vehicle networks that enable sharing of traffic information. For example, two of his vehicles on the road will be able to communicate with each other and provide information such as safety warnings. It is effective in avoiding accidents and traffic jams. However, this data could be exploited by third-party companies that could spam them with advertisements.A blockchain implementation could solve this problem.
Experts say the combination of blockchain and 5G could disrupt the telecommunications industry. One of the major challenges facing the telecommunications industry today is billing when users travel internationally. International roaming charges are exorbitant. This is because multiple parties are involved in ensuring access to mobile networks. This means that for every tiny bit of mobile data you use, you have to manually settle roaming charges, creating a bill. to you. Not only is this expensive, but it’s also inconvenient for Internet Service Providers (ISPs).
“A transparency-based blockchain can prevent rising consumer costs brought about by cross-border payments, and 5G will make international roaming and cross-border mobile networks compatible and efficient. – Founder of Mudrex, a crypto investment platform.
However, one of the most interesting upgrades in the world of blockchain and crypto is the metaverseThe Metaverse is the concept of a 3D digital world, a more immersive world accessed by virtual reality (VR) and augmented reality (AR) headsets and traditional computing devices like the PCs and smartphones we use. is the evolution of the Internet into a spatial web. .
“It takes a lot of internet bandwidth to fully replicate the physical world in a virtual ecosystem. And the faster the internet, the faster and better the rendered version of the physical world will be.” 5G has the potential to represent different physical environments in real-time, which is probably why tech companies are integrating 5G into their technology so much,” Patel explains.
5G is not the only blockchain enabler. Both complement each other. 5G will provide the necessary infrastructure for machine-to-machine interaction, while blockchain ensures data reliability and security to enable smarter, faster value capabilities. “The addition of 5G to existing 4G network architectures will enable a richer user experience across businesses. From financial services to retail, manufacturing, healthcare, media and entertainment, 5G will It’s starting to make an impact like never before,” adds David.