Blockchain: Applications, Challenges, and Opportunities in Consumer Electronics
Youcef Djenouri, Anis Yazidi, Gautam Srivastava, Jerry Chun‐Wei Lin
Abstract
One of the most beneficial and original solutions for cybersecurity is blockchain. Although the technology has only been on the market for a short time, it has already effectively replaced economic transaction systems in a number of businesses in its early stages and is capable of modernizing various business models in numerous consumer electronic applications. It is critical for planners and decision makers to thoroughly evaluate the suitability of blockchain for their particular use cases and commercial applications, even as it promises a secure distributed framework for sharing, exchanging, and integrating information across users and third parties. Blockchain should only be deployed if it is suitable, offers security, and provides better opportunities to drive revenue and save costs. In this article, we provide an overview of this technology that can be used to achieve security in consumer electronic applications. We also discuss the difficulties and potential benefits of using blockchain technologies in consumer electronics applications.