Sage Advice About Blockchains and Smart Contracts for the Internet of Things From a Five-Year-Old

With technology moving at the speed of light, blockchain and smart contracts more often than not sound daunting-even among professionals. Sometimes, though, the clearest insights come from those with the most simple perspectives, that of a five-year-old. This article tries to distill these sophisticated ideas through the uncomplicated eyes of a child’s perception and gives the sage advice that kids may otherwise unconsciously provide.

Understanding Blockchains
Now, imagine a type of notebook that everybody could read and write on, but no one gets to erase. That would be blockchain! It’s like that doodling notebook passed between friends, where everyone got to draw something and then it went to the next guy; once drawn, never erased. A five-year-old might think, “Because we all have the same notebook, we will always agree on what was drawn!” Therein may be the best simple analogy in how this blockchain technology works: a publicly shared, digitally distributed ledger ensuring the very integrity of transparency and security.

The idea with the Internet of Things is that the space for sharing data between an innumerable number of devices-from smart refrigerators to wearable technology-cannot be tampered with. Like kids needing to trust their friends not to scribble over their drawings, devices need to be able to trust in the inherent security of a blockchain to communicate and function properly.

Smart Contracts: Rules for Games
It is important to consider that smart contracts can be viewed as the rules of a game. Imagine hearing a five-year-old say, “If I let you play with my toy, you must show me your toy!” Here, the terms are in agreement. Smart contracts allow self-executing programs where the terms are written directly into lines of code. They automatically execute and enforce the terms of an agreement when certain conditions are met.

Think, for example, of a smart thermostat programmed to turn the heating on when it detects that the temperature has dropped below a certain threshold in IoT applications. These devices can communicate with each other through smart contracts and automatically execute their agreements based on pre-set rules without the need for intermediaries. That is the magic of simplicity, reminding us through the child that clarity and mutual understanding are important for cooperation and efficiency.

The Magic of Shared Understanding
Wisdom from such childlike insight moves to underscore one very important lesson in shared understanding in today’s connected world. In every form of children playing, clear rules and consensus items visibly can be communicated; likewise, with this development in blockchain and IoT, there would arise a need for shared understanding as to whether the data is to be shared and/or transaction security.

By playing with these concepts in a child’s mind, companies and developers approach blockchain and smart contracts on the very principles of simplicity, transparency, and trust. Let it remain in our minds that complexity should not take over from the basic tenets of cooperation and agreement between us, both digitally and personally.

Conclusion
As we forge deeper into the Internet of Things, let us borrow from the wisdom of children. Their honest interpretations invite us to make blockchain and smart contracts accessible and understandable. By upholding these values, we will strive towards a future where technology will promote connectivity, collaboration, and safety, where a set of friends can write their imaginations into the pages of a collaborative notebook, just as it is. In this technological age, let’s take a cue from a five-year-old and try to find some clarity in the chaos that surrounds us.

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