From Internet Of Things To Banking Of Things

Introduction The concept of the 'Internet of Things [IoT]' emerged in the early 1980s when technology started to influence business processes.

- Chithra Rajagopal and D Kadiresan

The earliest example of a machine connected to the Internet was a Coca-Cola vending machine, located at Carnegie Melon University. The programmers connected the machine by the internet, to check and see if there was a Coca Cola available and if it was cold, before making the trip.

The term 'Internet of Things (IoT)' was coined by Kevin Ashton in 1999. It comprises of Hardware, Software, Sensors, Devices, etc. that enables real times collection monitoring and analysis of data which can be translated into meaningful actionable piece of information and help to automate the manual process.

IoT is a way in which devices can connect and share information by connecting to internet. With higher fast and cheaper access of internet facilities all over the world, IoT has become one of the major technological evolution in recent times. In simpler terms, the electronic device that is connected to the internet is termed as 'Internet of Things [IOT]. 'Internet' here refers to connectivity and 'Things' means devices or 'The Thing' [living/non-living] which connects.

The Three questions to be answered in IOTs are

1. What to measure or What is being sensed? [Sensor]

2. Which device is connected to the internet? [Gateway]

3. How are sensors connecting to Gateway? [Applications]

Applications of IOT

There are quita lot of applications of IOT in various fields.

1. Health care - smartwatches, glucose monitoring device, heart rate monitoring device, etc