Andrew Poplavsky/123RF

18 Startups Using Blockchain To Transform The Internet Of Things [Market Map]

  • 19 December 2018
  • Sam Mire

Blockchain and IoT are a match made in heaven. The Internet of Things (IoT) is a technology that, much like blockchain, has had a rollercoaster of a hype cycle. The problem for each is that they are truly revolutionary technologies that require a number of paradigm and infrastructure shifts in order to gain more widespread adoption. The good news is, each can help the other grow in their usefulness.

IoT is a distributed network of sensors and smart devices that collect data or help to automate basic functions. Blockchain is a distributed ledger technology that helps keep a secure and decentralized network of computers or nodes working toward a shared goal. Blockchain can act as a protocol layer for smart devices, and those devices can act as nodes verifying the ledger across the entire system. The following companies are working to bring these technologies together for powerful uses. Together, they represent a growing movement of people that will help both of these exciting technologies go mainstream.

Blockchain in the internet of things market map


Blockchain market map - IoT - Trustless device identity

As the number of connected devices in use skyrockets, there are a number of growing concerns, the chiefest of which is identity management. If connected devices talk to each other all the time, they need protocols and sound systems to ensure they aren't interacting with fraudulent devices or hackers. Similarly, if users are placing aspects of their identity in connected devices, they need to have the assurance that data can’t be cloned and used by bad actors to gain access to their data.

Fortunately, blockchain is well-suited to solve this problem. Since blockchain is designed to secure data and transactions through the use of public and private keys, it is well-suited to manage personal identity in the IoT ecosystem, but it’s also perfect for giving devices unique identities. These companies are all working to integrate blockchain into IoT devices to help streamline identity management and create trustless permissioned connected networks.


WoTT is a planetary-scale device identity registry and reputation-based web of trust, securing machine-to-machine communication. They are using blockchain to create a system of decentralized access control for connected devices.

Founded: 2018

Funding type: Private


NXM provides scalable IoT security and data protection through the use of blockchain systems to help deploy trustworthy devices and applications that communicate securely and automatically with each other without manual intervention. They have a working hardware product for the autonomous driving industry. 

Founded: Sep 21, 2016

Funding type: Private


Founded in October 2015. Private.

UniquID leverages blockchain technology to automate device Identity Access Management (IAM), protecting business data while improving the efficiency of the access experience. They have created a protocol for Identity Access Management for secure machine-to-machine connections.

Founded: October 2015

Funding type: Private


Atonomi provides IoT developers and manufacturers with an embedded solution to secure devices with blockchain-based immutable identity and reputation tracking. Their goal is to increase trust in the identity of connected devices to foster further adoption of IoT technologies.


Blockchain market map - IoT - Connected device security

Unfortunately, existing IoT platforms haven't offered up much of a guarantee of security, meaning that users still fear their devices being hacked. Imagine your smart doorbell showing a hacker when you've left home, or someone being able to access your vehicle without permission. The good news is there are a number of innovative blockchain providers looking to adapt the technology to help secure connected device networks. These companies are helping turn connected devices into nodes on secure blockchain networks. Each of these blockchain IoT security providers is attempting to integrate blockchain solutions with the connected device ecosystem in a way that increases security, while maintaining scalability.


ubirch is a company working to provide blockchain solutions for IoT security and interoperability. The ubirch protocol and the ubirch software are designed to ensure that IoT data is trustworthy and secure, and that data packets are sealed and only accessible by approved parties.

Founded: Nov 28, 2014

Funding type: Private


SmartAxiom creates embedded IoT security software to help protect devices and data with blockchain.

Their aim is to create more efficient and agile computing systems for connected devices that can scale.


Founded: Feb 6, 2016

Funding type: Private


Taraxa is working to use scalable concurrent contracts, trustless light nodes, and encrypted data markets on top of block-lattice to help secure and decentralize IoT data. Their aim is to help connected device providers achieve node-level concurrency by speculative parallelization of smart contract calls.


HYPR is a decentralized authentication solution designed for the Internet of Things. HYPR hopes to transform connected “things” into “secure things,” whether it be keyless entry to a vehicle or passwordless authentication to an ATM. HYPR uses blockchain to secure FIDO-certified access to connected ATMs, cars, locks, and homes and other connected devices.

Founded: Apr 1, 2014

Funding type: Private


Xage is a blockchain-protected security platform for Industrial IoT. They combine blockchain with other encryption protocols to ensure that there are more nodes providing increased security for connected device networks. These blockchain-powered solutions help provide redundancy, self-healing during attacks, and real-time autonomous operations.

Founded: 2017

Funding type: Private


Blockchain market map - IoT - Interoperability and Autonomy

Let’s face it, IoT has a big problem. Interoperability. With the number of IoT software and hardware providers increasing rapidly, it’s no doubt that connected devices will soon be pervasive in our homes, at work, and in public infrastructure. But whether or not those devices can talk to one another is a whole different story. These companies are working to create decentralized protocols for the management of disparate connected devices. They are also working to help enterprises implement connected device networks that are scalable and as autonomous as possible.


BiiLabs aims to provide distributed ledger technology (DLT) as a next-generation growing engine for all industries, particularly those using connected and smart devices. Their blockchain solution will provide micro and nano transactions, which will help facilitate payments between connected devices.

Founded: November2017


IOTW is building a secure IoT ecosystem that enables instant transactions, and green micro mining from any connected device without any extra hardware and no additional cost. Part of their mission is to use the concept of micro mining in smart devices to reduce the overall energy impact of the cryptomining industry.

Founded: 2017

Funding type: Private

next-big-thingNext Big Thing AG (NBT)

Next Big Thing AG (NBT) is a Berlin-based startup incubator for the Internet of Things and Services (IoT/IoS) and blockchain. They are an operational VC, and their hope is to accelerate the development of blockchain and IoT solutions to help advance the use of connected devices everywhere.

Founded: Jul 6, 2016

Funding type: Private


AnyLedger aims to resolve adoption roadblocks in the IoT-blockchain ecosystem by building a blockchain agnostic embedded wallet. They are working to empower companies to craft a secure IoT infrastructure, powered by any kind of blockchain.


Founded: March 2018

Funding type: Private


Ockam is a platform designed to help developers innovate with the Internet of Things technologies. The platform rolls up known best practices in secure connected device systems and abstracts away technical complexity below a developer experience layer. Their blockchain-based infrastructure provides a serverless experience so developers can implement new solutions without having local servers.

Founded: Jul 18, 2017

Funding type: Private


Augmate is using blockchain to bridge the gap between inflexible business information systems, wearables, and IoT using modularity to streamline supply chain and production processes. They are also launching a token called MATE to support these efforts.


Founded: Dec 1, 2013


Filament’s Blocklet™ application software and Blocklet Chip™ hardware solutions enable connected machines and devices to transact and exchange value against a blockchain. Their blockchain systems use open protocols to help devices process information independently, including transactions between devices.

Founded: Apr 1, 2017

Funding type: Private


IoTeX is a privacy-centric blockchain platform that is designed to provide a fast and flexible solution for Internet of Things (IoT) devices. They are using their blockchain to provide a currency for connected device transactions in the hopes of creating a decentralized autonomous organization model for IoT.

Founded: 2017

Funding type: Private


SmartMesh is a blockchain-based underlying protocol built for the Internet of Things. SmartMesh has built-in blockchain light nodes and extends the Raiden and Lightning Networks second layer architecture network protocols, allowing internet-free digital payments and transactions. Utilizing blockchain-based token incentives, SmartMesh technology allows the formation of agile, decentralized Mesh Networks that can self-repair and have higher near-field speeds and bandwidth than standard internet connections.

Founded: 2017

Funding type: Private


Want more blockchain in IoT content?

Read: Blockchain in The Internet of Things: 3 Possible Use Cases

About Sam Mire

Sam is a Market Research Analyst at Disruptor Daily. He's a trained journalist with experience in the field of disruptive technology. He’s versed in the impact that blockchain technology is having on industries of today, from healthcare to cannabis. He’s written extensively on the individuals and companies shaping the future of tech, working directly with many of them to advance their vision. Sam is known for writing work that brings value to industry professionals and the generally curious – as well as an occasional smile to the face.