5G could change the blockchain and metaverse industry forever, says experts

The rollout of 5G in India will begin this month and the technology is bound to have a significant impact on how services are delivered to consumers and enterprises.

While the previous generations of cellular technologies (2G to 4G) were all about faster data speeds, 5G promises to alter the DNA of the user experience.

Experts believe that 5G will be the potential enabler that leads to the widescale adoption of blockchain technology in several aspects such as trade financing, logistics, healthcare, education, etc.

IoT is internet-connected devices that range from laptops, and smartphones to heavy industrial machines. 

These devices are integrated with sophisticated chips and sensors that enable them to communicate over the internet and exchange information smoothly. 

5G promises remarkable scope for IoT devices as the ultimate goal is to reduce network bandwidth and make the communication between devices live.

Since current IoT models are centralised, which means that one entity owns it, it makes it riskier for wider adoption. 

This is where blockchain comes into the picture, it promises decentralisation, which means nobody controls how these devices operate, and every transfer of data is recorded in a distributed ledger, giving users full control over their privacy. This wouldn't be possible on 4G.