Article
Version 1
Preserved in Portico This version is not peer-reviewed
Governance of Blockchain-enabled IoT Ecosystem: The Variable Geometry Approach
Version 1
: Received: 4 October 2023 / Approved: 4 October 2023 / Online: 9 October 2023 (10:52:31 CEST)
A peer-reviewed article of this Preprint also exists.
Ullah, I.; Havinga, P.J.M. Governance of a Blockchain-Enabled IoT Ecosystem: A Variable Geometry Approach. Sensors 2023, 23, 9031. Ullah, I.; Havinga, P.J.M. Governance of a Blockchain-Enabled IoT Ecosystem: A Variable Geometry Approach. Sensors 2023, 23, 9031.
Abstract
The number of Internet of Things (IoT) applications is increasing at a fast-paced and so is the interest in blockchain-enabled IoT ecosystem. IoT applications make our day-to-day life more efficient, while integrating blockchain into the IoT ecosystem (blockchain-IoT) brings security, transparency, trust, and privacy to IoT applications. Perhaps, smart logistics, smart health, and smart city are some of the potential blockchain-enabled IoT application domains. One of the reasons that is hindering the mass adoption of blockchain-IoT into mainstream applications is the lack of a dedicated governance. Without proper governance and regulations, and because of the obfuscated and concealed cryptographic nature of blockchain, blockchain can be used for various illicit activities such as ransomware, money laundering, fraud and so on. Furthermore, blockchain and IoT are relatively contemporary technologies and paucity of exclusive governance can ultimately lead to lack of confidence in these technologies. Therefore, in order to fully avail from blockchain and IoT integration (blockchain-IoT) and as well as further prevail this integration, governance can play an important role. Proper regulations and standarization are required to benefit from the novel characteristics of blockchain-IoT and avoid blockchain being used for malicious purposes. In this research, we address the role of blockchain in governance mechanisms, governance for blockchain, and finally proposed a vigorous governance framework for blockchain-enabled IoT ecosystem. We also demonstrate the applications of our proposed governance framework through a smart logistics case study. We anticipate that our proposed governance framework can facilitate and encourage blockchain and IoT integration in various application domains.
Keywords
Internet of things; blockchain; governance; European Union (EU) policy; policy makers; International Organization for Standardization (ISO)
Subject
Computer Science and Mathematics, Security Systems
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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