An Approach to Effectively Manage Access Control, Privacy, and Information Transparency in Hybrid Blockchain for Decentralized IoT Applications

Abstract

The industry is transitioning to a decentralized, self-managed supply chain network based on use case development. Finance, manufacturing, shipping, auto, food, and real estate supply chains are decentralizing information exchange. IoT data goes to a decentralized network, where transactions are executed without a central authority. This architecture faces difficulties including centralized trust management, interoperability, reusability, privacy, and access control for IoT data sharing. Decentralized group formation and information visibility limits might be mission-critical for the banking, finance, and insurance industries. In past work, we advocated decentralized trust management, reusability, and interoperability. This work addresses privacy, access control, permission, and information exchange transparency without compromising decentralization. In a decentralized context, our technique and proof of concept build trust.