Blockchain and Internet of Things Opportunities and Challenges

Abstract

We are now living in the significant era where technologies are advancing very quickly. Among the leading technologies, Internet of Things or IoT in short is standing at the peak of inflated expectation in the Gartner Hype Cycle [1]. The application of IoT has evolved from home appliances in the smart home environment such as smart tv, smart refrigerator, smart door and has grown into smart building, smart city, smart healthcare, smart industry. We could imagine that everything could go online to cut cost, add value to businesses and increase users convenience. The prediction has been made [2] that there will be 50 Billion IoT devices by 2020.