Blockchain and 5G
Blockchain with 5G is expected to do wonders by 2030 as it is going to connect around 500 million mobile devices. The combination of 5G and blockchain technology has the potential to unleash a surge of economic value.
5G will directly assist blockchains by increasing node participation and decentralization, as well as allowing for shorter block times, driving forward on-chain scalability — all of which, in turn, further supports the IoT economy.
Blockchains can assist in 5G wireless access technology deployments by providing seamless access across a diverse number of networks to devices and IoT endpoints.
Blockchain technology is particularly well-suited to respond to both the challenges and opportunities of a 5G-enabled IoT. Therefore, it is highly likely that each technology will spur greater adoption of the other. With a secure 5G/IoT network, supply chains can leverage the integrity of a blockchain’s logs (or ledger), which, when properly implemented, is nearly impossible to alter.
5G and blockchain offer the promise of a potent combination. Blockchain can secure mobile banking networks that will have to secure transactions on a very granular level, while 5G itself will make sure these complex networks do not strain under the weight of blockchains.