By installing connected utility meters and managing the data on the blockchain using smart contracts can bring trust and transparency to the system.

The automated utility bill payment that uses IoT and Blockchain will open enormous opportunities for both consumers and the service providers.

For example, users can trust the system and pay bills in advance with discounts. The service providers can give rewards to the customers who would have saved more electricity in a month.

In this article, we have only explained one area where Blockchain IoT will impact broadly, but there can be many more industries like healthcare, public safety, smart homes, and supply chain management where Blockchain IoT can be implemented.

To get an in-depth knowledge of how Blockchain IoT work together, reach out to our team of experts.