IoT and Blockchain Technology Integration Models for Transparency and Protection of Sales and Purchase Luxury Products

Luxury goods are products that have a relatively high value, so their ownership is only limited to certain people who have the financial ability to buy them. Luxury goods require a security system to protect them from theft and other misuse. In the context of buying and selling luxury goods, a sales mechanism with high transparency is needed. The current problem is that the sale of luxury goods does not yet have a mechanism that provides valid and real-time information about the authenticity and history of the luxury goods being bought and sold. This research aims to help luxury goods owners protect their goods using blockchain technology and the Internet of Things. The result of this research is an IoT and blockchain integration model to increase the protection and transparency of luxury goods buying and selling transactions. At the end of the paper, the author adds an example of data simulation with hash values or block assets for each block, which confirms the linkage between blocks on the blockchain network.