Due to the potential applications in a range of industries, blockchain-based cryptocurrencies have recently gained a lot of attention worldwide. One of these applications is in the domain of the Internet of Things. With B-IoT i.e. merging Blockchain with IoT, we aim to utilize the power of cryptocurrencies without jeopardising payment security, privacy, or long transaction period. On the other hand, traditional payment modes and methods are hampered by relatively lengthy complex process fees making them vulnerable to physical cash exchange thefts.
