Integration of Blockchain and Internet of Things

Customers can benefit from the Internet of Things in a number of ways, and it has the potential to transform the fundamental ways that consumers interact with technology. The pervasiveness and correspondences maintained for IoT might provide various conveniences and aids for people, but also open up many security loopholes. Blockchain, a distributed digital ledger, is finding uses in industries as diverse as finance, healthcare, utilities, agriculture, real estate, and Supplier Management. The middleman acting as guardians for specific applications in these enterprises can be removed in order to provide security and those equivalent applications can be run in a distributed way with practically no centralized power. Blockchain technology makes this feasible without sacrificing efficiency or safety, which was previously impossible. Blockchain and IoT seem to be best on their own in the respective sector in which it is applied, so businesses can try and exploit this powerful combination known as Blockchain Internet of Things (BIoT) to bring immense advancements, progressions and cutting edge innovations in the area of their interest. The term “BIoT” was created by fusing blockchain with IoT applications.