There are tremendous possibilities in the field of Internet of Things and Blockchain technology. IoT deals with receiving and transmitting large amounts of data through system and devices in real-time.
There has been recent adoption of blockchain technology in the last years. Since it has provided the underlying framework for the cryptocurrency Bitcoin, many industries are depending on the technology. It ensures the protection of data and communication, and it successfully provides privacy and security to the businesses. The data in the IoT has to flow across various devices, machines, and integrated solutions that have analytic capabilities. While the data moves in the network of devices, it has to pass through a variety of administrative borders. In such a scenario, to manage the data and have proper functioning of the entire IoT system, there is a need to collaborate with security technologies like Blockchain.