A study on integrating IoT Applications with Blockchain

摘要

Every industrial sector has started analysing the ways of utilizing the advancements in cyber physical technologies in their operations. Internet of Things has emerged as a new way of connecting the physical world to the cyber world to obtain tremendous amount of information about the physical world and make it available in the Internet for advanced analytics and business decision making. Thus, IoT promises huge results in terms of revenue, safety, monitoring and management in every business unit of an Enterprise. Block chain has emerged as a key technology in storing data in distributed ledgers which is not possible or extremely difficult to modify or damage. Wherever data security is significant and ensuring the integrity of data is challenging, we may apply Block chain to resolve the issues. This paper analyses the suitability of using Block chain in IoT ecosystems in the first part. The consequences of integrating Block chain with IoT and the opportunities and challenges in this process are discussed in the next part of the paper with use cases. Based on the contemporary challenges and maturity of the technology, this paper concludes the most appropriate set of applications on which Block chain and IoT can function together and it proposes a way of making the best possible outcomes from both the domains.