As the obsession of the modern-day consumer with smart home devices increases, it is important to analyze how good they are when it comes to security. Whether it is a Smart TV, a Smart Baby Monitor, or a Smart Security System, all of them share the same vulnerabilities. It's true that connected devices make our everyday lives easier and more convenient, but it is high time for consumers to understand what's at stake.
The problem with smart connected devices is that they have access to large chunks of the user's data which can be used in unethical ways by enterprises and centralized systems. Moreover, a bigger threat to smart devices is their vulnerability to getting hacked. Devices like cameras, baby monitors, laptops, phones, etc., are being hacked every day. GDPR violation fines by enterprises reached 1.14B USD in Q3 of 2021 alone. That's where a decentralized system powered by Web3 comes into the picture.
Decentralized architecture is the right approach to solve such trust issues. However, Dapps/solutions that need to use real-time communication and data stores, such as IoT hardware and apps, metaverse apps, real-time NFT, messaging apps, etc., face a big challenge because no existing solutions provide a simple, secure, and standardized approach to facilitating real-time transactions and storing data.
While new global and local IoT laws are the first steps in the right direction, we need secure, scalable, and regulatory compliant IoT systems to address privacy and security going forward.
Now, citizens and governments across the globe are taking note of the various security threats as well as privacy violations that are underway if we do not make a proper course correction.
Blockchain startup Kandola uses its innovative real-time distributed message queue and decentralized IoT data store to address such security and data privacy issues while maintaining the scalability requirements.
The fundamental principles of the Kandola network that make it a decentralized, standardized, and secure blockchain platform are:
- Real-time processing and finality of messages
- Real-time data processing and storage
- Implicit and configurable NFTs for messages
- Privacy, confidentiality, and integrity by design
- Built-in compliance with global data privacy regulations
Empowering IoT manufacturers and developers to make real-time apps, Kandola's futuristic features enable:
Web3 Real-Time Messaging
Real-time messaging and communication for Web3
Web3 Real-Time Datastore
Real-time storage and analytics persistence for Web3
Web3 Implicit NFT
Implicit NFT for every transaction/message in Web3
Web3 Digital Identity
Self-Sovereign Identity for People, Entities, and Devices in Web3
Decentralized IoT Network and Platform
Decentralized Device Registry and Devices Network and Platform for Web3
Platform-as-a-Service for IoT Manufacturers and Solution Developers
Here are some power-packed features offered by Kandola to empower solution developers:
Secure & Scalable
The platform allows easy and scalable cloud-based data access and control. This essentially means that data is secure at all times, in motion as well as at rest.
Unlock Data Value
Kandola helps solution developers to exchange their cloud-based data securely with other solutions to unlock incredible data value.
Easy to Implement
SDKs and APIs for easy integrations in mobile and server applications.
The platform facilitates the standardization of data. Community members of Kandola can easily exchange data with other apps and solutions since it is an open marketplace.
"Kandola is building an IoT3 Network which will perform real-time transactions and finality at unprecedented scale on Web3. We will deliver this value to IoT devices, manufacturers, and consumers. Our components and modules are generic and can be used in other domains in Web3 where there is a trust deficit between what is produced, processed, and delivered to consumers and require real-time communication. Once in motion, we envision a steady power shift from centralized enterprises to the true owners, the value creators," noted Ragul Kumar, Chief Technology Officer of Kandola Network.
That said, the main principle of Web3 is that it will be completely decentralized. Companies like Kandola are leading the way in facilitating a platform that realizes these principles to offer scalability and endless opportunities. Rather than being controlled by governments or giant corporations, as is the case with the internet, Kandola Network aims to be the de-facto platform for all DApps/solutions that need to use real-time communication and data stores like IoT hardware and apps, messaging apps, games, real-time NFT, and metaverse apps. Founded by Siddharth Banerjee along with co-founders Krithika Radhakrishnan and Sriram Padmanabhan, the platform envisions fostering a community that will help drive a steady power shift from centralized enterprises to the true owners, the value creators.