Instead of 64 gigabytes, he works with 180 kilobytes; Big Data has become Small Data, which is just as challenging in its way.Ubirch is primarily concerned with the security of the data. This should not be confused, Jugel explains, with securing the devices or the infrastructure. “It’s about whether the data that devices are processing is also accurate and authentic.”For the Internet of Things, this is extremely important. Different actors and machines are interconnected in a production chain, and much is controlled by data that devices and sensors collect and send. If that data is manipulated — whether intentionally or through a bug — enormous damage can be done. “An example would be a smart grid,” Jugel explains, “a manipulated date can be enough to cut power to a producer or location.”The Internet of Things makes it extremely important that data be trusted. That trust, Jugel says, can’t be achieved through traditional technologies. This brings us to — you guessed it — blockchain.Ubirch started working with blockchain about two years ago. The technology is designed to help validate data — even large amounts of it — in a way that is not only secure but also privacy compliant.The actual plan was to form an application for insurance companies: Special sensors, such as those on buildings or vehicles, would report when damage occurs, and because the insurance company trusts the sensors, it could automatically settle the claim. That would save the cost of the appraisal.“Insurance companies are already experimenting massively with such models of an automated claims settlement. Of course, the authenticity of the data is a sensitive issue here,” Jugel explains.Ubirch helps by turning sensors into “oracles” — sources that feed blockchains with data.“The sensor has a small client that runs autonomously on their microchip. The client generates a key…