AT&T and T-Mobile are two telecom giants working with blockchain technology in the industry.

Analysts have been anticipating the implications of the Internet of Things (IoT) for several years. However, there have been two main impediments to its success: capacity and security.

On August 15, Michael Terpin filed a $224 million lawsuit against AT&T. His 69-page complaint claims the telecom giant had failed to protect his phone number—even after escalating his account to a “higher security level” with “special protection”—resulting in a combined $24 million hack of his cryptocurrencies.

AT&T* has created a suite of blockchain solutions designed to work with technology from IBM and Microsoft.