The 5G deployment in India kicks off this month and technology is bound to have a significant impact on how services are delivered to consumers and businesses. While previous generations of cellular technologies (2G to 4G) focused on faster data speeds, 5G promises to alter the DNA of the user experience.
Experts believe that 5G will be the potential catalyst that will lead to the large-scale adoption of blockchain technology in several aspects such as trade finance, logistics, healthcare, education, etc. “The power of 5G coverage through its ultra-low latency, high speeds and immense capacity enable Internet of Things (IoT) devices to be widely used. This would imply that smart cities, driverless vehicles , smart homes and other sensor-driven enhancements for industrial use cases will finally have technology that can meet their unique needs,” said Sunil David, Co-Chair of the Digital Communications Task Force, IET Future Technical panel.
IoT is a collection of internet-connected devices that range from laptops and smartphones to heavy industrial machinery. These devices are embedded with sophisticated chips and sensors that allow them to communicate over the internet and exchange information seamlessly. 5G promises remarkable range for IoT devices as the ultimate goal is to reduce network bandwidth and make communication between devices live. Since current IoT models are centralized, meaning only one entity owns them, this makes them more risky for wider adoption. This is where blockchain comes in, it promises decentralization meaning no one controls the operation of these devices, and every data transfer is recorded in a distributed ledger, giving users full control over their lives. private. This would not be possible in 4G.
“4G could not fully meet the latency and density requirements required by this ecosystem. 5G is not only designed to improve speed and latency, but also enables a proximity-centric approach to help the ecosystem of distributed and decentralized applications,” said Dr. Ravi Chamria, CEO and Co-Founder of Blockchain Infra Automation platform, Zeeve at indianexpress.com.
An example of using 5G in blockchain could involve vehicle networks to enable sharing of traffic information. For example, two vehicles on the road will be able to communicate with each other and provide information such as safety warnings. This could be effective in avoiding accidents and traffic jams. However, this data could be used by third-party companies that may spam you with advertisements. The implementation of the blockchain could solve this problem.
Experts say blockchain coupled with 5G has the potential to disrupt the telecom industry. One of the major challenges facing the telecommunications industry today is the generation of bills when a user travels abroad. International roaming charges are exorbitant, as multiple parties are involved to ensure you can access mobile networks, which means that for every small amount of mobile data you use, roaming charges must be paid manually and then an invoice is generated. yours. Not only is it expensive, but it also makes it inconvenient for Internet Service Providers (ISPs).
“Blockchain, which relies on transparency, can prevent rising costs for consumers caused by cross-border settlements, and 5G will ensure that international roaming and cross-border mobile networks are compatible and efficient,” said Edul. Patel, CEO and co. -Founder of Mudrex, a crypto investment platform.
However, one of the most interesting upgrades in the world of blockchain and crypto could be the rendering of the metaverse. The Metaverse is a concept of a 3D digital world and an evolution of the Internet into a more immersive spatial web accessible through virtual reality (VR) and augmented reality (AR) headsets as well as traditional computing devices like PCs and the smartphones we all use. .
“To completely replicate the physical world in a virtual ecosystem requires a lot of internet bandwidth. And the faster the internet, the faster and better the rendered version of the physical world. Potentially, 5G has the potential to enable real-time rendering of different physical environments. Perhaps that’s why tech companies are heavily integrating 5G into their technology,” Patel explained.
It’s not just 5G that enables Blockchain. The two are complementary to each other. 5G will provide the infrastructure needed for machine-to-machine interactions, Blockchain will ensure data reliability and security, enabling smarter and faster value functions. “Adding 5G to existing 4G network architectures will enable much more feature-rich and feature-rich user experiences across the enterprise. From financial services to retail to manufacturing, healthcare , media and entertainment, we are starting to see 5G having an unprecedented impact,” adds David.