Blockchain is a new phenomenon that has taken over the media and the Cryptocurrency world. But can this new system be applied to other things apart from Crypto? The short answer is yes, it can. And one of the ways it has been used is for home security systems.
First off, let’s explain how the current home security systems work. All the security technology in your home is connected to one system, these are devices such as; cameras, speakers, smart bulbs etc. And each one works on this system and this enables the devices to communicate with an outside source, that security device collects the information and stores it on the company's server. This means that your personal information, videos, images, voice recordings and your privacy are being severely compromised. This is why many people are turning away from home security systems, which could end up being a big mistake.
But what if I told you, you could have a fully equipped security system with no middleman and nobody invading your privacy? Sounds great right? Well, it could be possible...
In my previous blog post, I explained the ins and outs of Bitcoin and Blockchain. Let me give you a quick summary; there are multiple machines (nodes) connected to the Blockchain that are all connected to the Blockchain whilst they are trying to mine coins. These machines/computers talk to each other through the Blockchain and when someone that has a form of Cryptocurrency and wants to use it/withdraw it or exchange it they have to check with the other nodes to see if they have the right amount of coins in their wallet, like a verification of sorts.
This Blockchain technology has already been transferred to several other industries such as security, finance, IoT, medical data and gambling. And now, companies are starting to latch onto the idea of using it for home security.
Home security is constantly monitoring your every move and this is deterring people from securing their homes and potentially saving their possessions and in more extreme cases, their lives. None of the systems allows the user to keep their information private and this shouldn’t be the case.
Blockchain can use the decentralised system to keep the privacy of your home - private. Much like cryptocurrency, it uses nodes which are the machines
Many people are unaware of the benefits of Blockchain and believe that it is used for underhanded activity. The beneficial uses have yet to be marketed fully and so it has been lost. Blockchain offers Decentralization, Anonymity and security. It means that the information is now stored remotely instead of an outside source.
The main benefit is that there is no central holding system that stores data relating to transactions, trades, sources, and activity, but rather information is distributed throughout the world by computers, also known as nodes, which carry the record of the chain with them.
Is it feasible? Well, surely it must be as there are already companies that utilise it for security:
Smart HERIOT Home is a service that incorporates the latest blockchain technology into a smart home. This service enables transparent management of apartment expenses and enhances the security of IoTs that are applied to apartments, making it possible for residents to live with a peace of mind.” Hdac company
Would you use Blockchain for your home security system? Can we trust it?