Enabling blockchain-IoT convergence for industrial revolution 4.0 innovation: A critical review

Isa Ali Ibrahim () and Muhammad Ahmad Baballe ()

Edelweiss Applied Science and Technology, 2024, vol. 8, issue 6, 3668-3673

Abstract: The Fourth Industrial Revolution (4IR) has revolutionised global interactions through the Internet of Things (IoT), connecting over 40 billion devices by 2030, raising significant security, protection, and privacy concerns. Blockchain technology offers a decentralised, secure, and transparent solution for data sharing and storage, leveraging its core characteristics—immutability, data integrity, transparency, and consensus—to enable tamper-proof records, real-time tracking, and secure data sharing in supply chain management and healthcare. Despite high implementation costs, blockchain-IoT convergence promises transformative benefits, including enhanced efficiency, reduced costs, and improved security. This study provides an in-depth analysis of blockchain's applications in IoT, highlighting its potential to enhance data security and privacy, improve supply chain management, facilitate secure healthcare data exchange, and enable real-time tracking and monitoring. Future research directions include scalability solutions, interoperability protocols, regulatory frameworks, blockchain-based supply chain management, and quantum-resistant blockchain networks.

Keywords: Datafication; Fourth industrial revolution (4IR); Healthcare; Internet of things (IoT); Security. (search for similar items in EconPapers)
Date: 2024
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