Blockchain of Things (BoT)
Blockchain of Things (BoT) integrates blockchain technology with Industrial Internet of Things (IIoT) systems to create decentralized, secure, and transparent networks for manufacturing and supply chain operations. The technology uses blockchain's distributed ledger and cryptographic security to record and verify data from IoT devices, creating immutable records of production processes, supply chain movements, and equipment status. This enables trustless interactions between parties, automated smart contracts for supply chain transactions, and complete traceability of products and processes.
The technology addresses critical challenges in industrial IoT including data security, trust between parties, centralized failure points, and lack of transparency in complex supply chains. BoT systems can enable automated payments between supply chain partners, verify product authenticity and origin, track equipment maintenance and performance, and create transparent records of manufacturing processes. Applications include supply chain traceability, quality assurance, automated logistics, and secure data sharing between industrial partners. Companies and consortia are developing BoT platforms for various industrial applications.
At TRL 6, Blockchain of Things systems are being piloted in various industrial applications, though scalability, energy consumption, and integration complexity remain challenges. The technology faces obstacles including blockchain transaction costs and latency, the need for consensus mechanisms suitable for industrial applications, integration with existing IoT infrastructure, and the complexity of managing blockchain networks. However, as blockchain technology evolves and becomes more efficient, BoT becomes increasingly viable. The technology could transform industrial operations by enabling trustless collaboration, automated supply chains, and complete transparency, potentially creating more efficient and secure industrial ecosystems while addressing security and trust challenges in IoT deployments.
