How Blockchain and IoT Can Come Together and Help a Company to Grow
DOI:
https://doi.org/10.63282/3050-9246.IJETCSIT-V5I3P110Keywords:
Blockchain, Internet of Things, Smart Contracts, Business Growth, Decentralization, Data Integrity, Industry 4.0, Predictive Maintenance, IoT Security, Real-time MonitoringAbstract
The merging of blockchain and Internet of Things (IoT) represents a state-of-the-art tech evolution capable of reshaping the modern business landscape. While IoT devices toil away to provide real-time data from the physical environment, the blockchain gives an architecture-a decentralized, incorruptible architecture-to store, share, and verify the data without any interference from middlemen. Together, technology-wise, they treat various crucial business challenges such as data integrity, transparency, security, and operational inefficiency. This study is about how the interfacing of blockchain and IoT can bring growth to sectors through smarter supply-chain management, adding security and trust to M2M communications, enhancing regulatory compliance, and fostering predictive maintenance through transparent sharing of data.
In this paper, a robust framework describing the synergistic interplay between blockchain and IoT is presented, with a vast literature review, conceptual modeling, and real-world use cases. Therefrom, the study shows the fine points of business processes improving with such integration-commercially speaking-right from real-time logistics to inventory automation, client personalization down to verifiable financial reports. And further, the study goes on to address the principal technical and organizational barriers toward full-fledged adoption, i.e., scalability, latency, and interoperability.
This study ultimately shows that companies able to exploit the twin infrastructure of blockchain and IoT do this in a manner that provides a competitive advantage, reduces fraud and inefficiencies, and paves the way for sustainable scaling in an increasingly data-driven world. The findings lead to the conclusion that for organizations to realize these benefits, a strategic and phased integration approach should be undertaken, bolstered with infrastructure investments, workforce development, and governance models tailored to decentralized ecosystems
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