In 2017, there were 8.4 billion “internet of things” devices in use, and this number is expected to explode to 75 billion by 2025. Given this exponential growth, industries, governments and regulators have started taking steps to implement laws, practices, technologies and regulations to address and identify potential cybersecurity and safety hazards facing internet of things consumers. As a result, companies are beginning to explore whether blockchain, a technology that uses a decentralized distributed ledger to record transactions, is a solution to make these products safer, more efficient and more secure. This article explores why blockchain is a potential solution to the obstacles facing internet of things devices. In addition, it looks at where the liability could fall if the product malfunctions.

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