Blockchain for Information Systems Applications

Abstract

The potential of blockchain technology is increasing rapidly as the technology is more secure and immutable. IoT, the Internet of Things, is an evolving technique that adds quality to lives. IoT raises security issues because of the violations of security policies and rules. Blockchain authorizes IoT devices to make IoT strong in security-related areas. Blockchain provides a decentralized environment to IoT platforms and applications. Blockchain is an expanding technology to various fields due to its greater transparency and enhanced security. Blockchain technology works in a secured atmosphere. Without a third person, people can send money directly, where transactions are inexpensive and fast, and technology also prevents corruption and manipulation. Each cryptocurrency user can monitor their transactions and authenticate them at the same time. The blockchain framework developed by Ethereum and Hyperledger helps to store data for this application. We use many functionalities for digital health records. The computer protocol which verifies or enforces the negotiation or performance is known as the smart contracts. These have a broad spectrum of applications, like financial services, prediction markets, and the IoT. When the use of blockchain increased, issues like the scalability of major public-chain platforms came up, which directly affect the development of blockchain.