IoT and Blockchain for Support for Smart Contracts Through TpM

This paper investigates the integration of Internet of things (IoT) technology with blockchain to enhance transparency, accountability, and operational efficiency in smart contract execution for IoT ecosystems. The proposed approach extends the Three-Phase Methodology (TpM) by introducing an innovative entity, the IoT Operator, which acts as a custody caretaker, contract enforcer, and mediator. By leveraging blockchain's secure and immutable ledger, the IoT Operator ensures the reliable monitoring and governance of IoT applications. A PoC implementation conducted at the Eldorado Research Institute demonstrates the methodology's effectiveness, realizing a significant reduction of 95.83% in equipment search time. This work highlights the practical advantages of integrating blockchain and IoT within a structured framework, emphasizing the need for tailored, application-specific solutions rather than generic decentralization. The findings offer actionable guidelines for implementing blockchain in IoT systems, paving the way for more secure, efficient, and resilient IoT applications.