3.1 Why Blockchain?
The IT technologies that are currently drawing critical attention as a hyperconnected society have already arrived ahead of the Fourth Industrial Revolution. Here, the “hyperconnected society” refers to a sort of society in which people and things are closely connected both online and offline through IT technology through digital networks and social media (also referred as IoT). In fact, these hyperconnected societies are highly effective, as they enable collaboration among network members without third-party intervention. However, there is an inevitable need for a new platform, required to ensure transparency and reliability for the IoT to prosper further. Here, blockchain technology is drawing attention as the most consistent technology to address the requirements. Hence, ARTIC leverages blockchain technology and smart contracts to pave the way for the formation of a sound ecosystem by allowing ARTIC participants to obtain rewards commensurate with their contributions without complicated processes.
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