Potential Technology Trend: Internet of Things

By | June 22, 2014
This entry is part 16 of 30 in the series Trends

Potentially a powerful trend where imbedded systems in everyday objects from clothes to power systems communicate wirelessly to emit data, receive instructions, etc.
I call it a potential trend because I have not yet seen evidence that it is impacting banks. Keep on “watch”.
A simplistic system workable with today’s technologies would be RFID chips in “things” and sensors leveraging near field communications (NFC).

Bluetooth is another option leveraged by iBeacon.  “All LevelUp merchant partners are now being offered an iBeacon, which is ready to go as soon as it is plugged in. The firm expects to have delivered up to 1000 by the end of the summer but in the longer term plans to build the technology into its POS scanners.

Google is apparently a believer as they bought the smart thermostat Nest.

In Digital Bank, Chris Skinner envisions a world where objects in the internet of things transact, making the internet of things of importance to bank strategy.

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