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Manufacturers have struggled to make services for smart devices profitable, leading to problems for consumers. But these machines could be corralled to create blockchain-linked decentralized cloud infrastructure, says E&Y’s Paul Brody. Over a decade ago, I got into the blockchain business because I wanted to fix the Internet of Things.
A decade later, both businesses are thriving and both still have big problems with their business models. It may well be that, like the original internet, we can never really escape bad business models once they take root. I am, for one, skeptical that we’ll ever be free from the our-service-is-free-because-you-are-the-product model of social media, for example.