Blockchain Decision Matrix for IoT Systems

Blockchain technologies are explored as an overlay to existing IoT systems. Building such systems require design considerations regarding the type of technology and its suitability based on the number & frequency of transactions, data volume, privacy requirements, etc. Most of the existing work towards blockchain-IoT integration lacks systematic approach. This work proposes a systematic approach to apply blockchain technologies in IoT systems. The goal of this study is to show how to apply blockchain technologies in the IoT systems by better understanding the system and use-case requirements. To fully realize the challenges, we investigated several IoT systems. We introduce the initial concept and design of a decision matrix or analysis framework. This matrix is intended to help the interested stakeholders and system architects in developing blockchain applications for IoT systems and prototyping a fit-for-purpose technology stack with exchangeable components.