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Blockchain IoT Applications – Real-World Uses of Blockchain and IoT

by Assessor

Blockchain technology has the power to enhance security and transparency in IoT ecosystems. By combining the decentralized and scalable nature of blockchain with the vast opportunities offered by the Internet of Things (IoT), businesses can streamline their operations and make their systems more efficient[^1^].

Supply Chain and Logistics

The global supply chain and logistics industry involve numerous stakeholders, leading to complex visibility issues and delivery delays. To address these challenges, companies are turning to IoT-enabled vehicles that can track shipments from end to end. When combined with blockchain technology, this enhances the network’s reliability and traceability[^1^].

IoT sensors, such as motion sensors, GPS, temperature sensors, and vehicle information, provide crisp details about the status of shipments. This sensor data is stored on the blockchain, and the information is accessible in real-time to stakeholders listed in the Smart Contracts. This allows participants in the supply chain to prepare for transshipment and conduct cross-border transactions[^1^].

An example of a company disrupting the supply chain and logistics industry with blockchain and IoT is “Golden State Foods”. Partnering with IBM, Golden State Foods leverages blockchain and IoT to optimize their business processes. The sensors’ data is collected on the blockchain, ensuring that issues are addressed and reported automatically, preventing serious problems from arising. This creates a secure, immutable, and visible ledger accessible to different stakeholders, improving accountability and transparency[^1^].

Automotive Industry

The automotive industry is embracing digitization and utilizing IoT-enabled sensors to develop fully automated vehicles. By connecting Industrial IoT solutions with a decentralized network, users can exchange crucial information quickly and easily. This innovative approach has the potential to disrupt various aspects of the automotive industry, including automated fuel payment, autonomous cars, smart parking, and automated traffic control[^1^].

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An example showcasing the transformation of the automotive industry through blockchain and IoT is NetObjex. NetObjex has implemented a smart parking solution using these technologies. Through integration with a parking sensor company called PNI, drivers can easily find vacant spaces in parking lots. The solution automates payments using crypto-wallets, with IoT sensors calculating the parking duration charges. This seamless process simplifies the parking experience and eliminates the need for physical payment methods[^1^].

Smart Homes

Smart IoT-enabled devices have become indispensable in our daily lives. However, the traditional centralized approach to exchanging information generated by these devices lacks security standards and data ownership. Blockchain technology can elevate the concept of smart homes by solving security issues and removing centralized infrastructure[^1^].

Telstra, an Australian telecommunication and media company, is working to improve the security of smart homes through blockchain. Telstra provides smart home solutions that leverage blockchain and biometric security measures. Sensitive user data, such as biometrics, voice recognition, and facial recognition, is securely stored on the blockchain. This ensures that the data cannot be manipulated, and access is granted only to authorized individuals[^1^].

In conclusion, the combination of blockchain and IoT presents numerous real-world applications across different industries, including supply chain and logistics, the automotive industry, and smart homes. These applications bring enhanced security, transparency, and efficiency to businesses, leading to a more connected and digitized future.

To learn more about the potential of blockchain and IoT, visit Ratingperson, a platform dedicated to exploring the possibilities of these transformative technologies.

Image: Supply Chain and Logistics
Image Source: Ratingperson

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Image: Automotive Industry
Image Source: Ratingperson

Image: Smart Homes
Image Source: Ratingperson

[^1^]: Original content source: Ratingperson

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