Blockchains and Smart Contracts for the Internet of Things
TLDR
The conclusion is that the blockchain-IoT combination is powerful and can cause significant transformations across several industries, paving the way for new business models and novel, distributed applications.Abstract:
Motivated by the recent explosion of interest around blockchains, we examine whether they make a good fit for the Internet of Things (IoT) sector. Blockchains allow us to have a distributed peer-to-peer network where non-trusting members can interact with each other without a trusted intermediary, in a verifiable manner. We review how this mechanism works and also look into smart contracts—scripts that reside on the blockchain that allow for the automation of multi-step processes. We then move into the IoT domain, and describe how a blockchain-IoT combination: 1) facilitates the sharing of services and resources leading to the creation of a marketplace of services between devices and 2) allows us to automate in a cryptographically verifiable manner several existing, time-consuming workflows. We also point out certain issues that should be considered before the deployment of a blockchain network in an IoT setting: from transactional privacy to the expected value of the digitized assets traded on the network. Wherever applicable, we identify solutions and workarounds. Our conclusion is that the blockchain-IoT combination is powerful and can cause significant transformations across several industries, paving the way for new business models and novel, distributed applications.read more
Citations
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Patent
Blockchain-implemented method and system
TL;DR: In this paper, the authors present a novel and advantageous solution for controlling or influencing use of and/or access to a resource, which is implemented via a distributed ledger (blockchain).
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Richard Holden,Anup Malani +1 more
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Proceedings ArticleDOI
Smart Agriculture: An Open Field For Smart Contracts
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Book ChapterDOI
A blockchain based access control framework for the security and privacy of IoT with strong anonymity unlinkability and intractability guarantees
TL;DR: FairAccess and PPDAC are introduced, as a lightweight and privacy-preserving access control framework based on the emergent blockchain technology, mainly the permissionless and public type, to ensure fine-grained access control functions for IoT devices with strong anonymity guarantee for IoT end-users.
Posted Content
Differential Privacy in Blockchain Technology: A Futuristic Approach.
TL;DR: In this paper, the authors discuss the integration of differential privacy in each layer of blockchain and in certain blockchain based scenarios, and highlight some future challenges and application scenarios in which differential privacy can produce fruitful results.
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