Abstract

Today, blockchain is becoming more popular in academia and industry because it is a distributed, decentralised technology which is changing many industries in terms of security, building trust, etc. A few blockchain applications are banking, insurance, logistics, transportation, etc. Many insurance companies have been thinking about how blockchain could help them be more efficient. There is still a lot of hype about this immutable technology, even though it has not been utilised to its full potential. Insurers have to decide whether or not to use blockchain, just like many other businesses do. This technology keeps a distributed ledger on each blockchain node, making it more secure and transparent. The blockchain network can operate smart contracts and convince others to agree, so criminals cannot make mistakes. On another side, the Internet of Things (IoT) might make a real-time application work faster through its automation. With the integration of blockchain and IoT, there will always be a problem with technology regarding IoT devices and mining the blockchain. This paper gives a real-time view of blockchain-IoT-based applications for Industry 4.0 and Society 5.0. The last few sections discuss essential topics such as open issues, challenges, and research opportunities for future researchers to expand research in blockchain-IoT-based applications.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.