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Notes Session 04

The document discusses the integration of IoT and blockchain across various sectors including government, healthcare, and financial crime protection. It highlights the benefits of combining these technologies, such as enhanced security, transparency, and efficiency, while also addressing challenges like scalability and regulatory uncertainty. Future trends indicate a growing adoption of AI, 5G, and blockchain for improved automation and interoperability.

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shruthi g
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0% found this document useful (0 votes)
12 views10 pages

Notes Session 04

The document discusses the integration of IoT and blockchain across various sectors including government, healthcare, and financial crime protection. It highlights the benefits of combining these technologies, such as enhanced security, transparency, and efficiency, while also addressing challenges like scalability and regulatory uncertainty. Future trends indicate a growing adoption of AI, 5G, and blockchain for improved automation and interoperability.

Uploaded by

shruthi g
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Table of Contents

❖ IOT & Blockchain.


❖ Government & Blockchain.
❖ Health & Blockchain.
❖ Financial Crime Protection & Blockchain.

1 IOT & Blockchain


Introduction to IoT
❖ IoT stands for Internet of Things.
❖ A network of connected devices that collect & exchange data.
❖ Example: Smart homes, wearable devices, industrial sensors.
Key Components of IoT
❖ Devices & Sensors: Collect data.
❖ Connectivity: Wi-Fi, Bluetooth, 5G, etc.
❖ Cloud Computing: Data storage & processing.
❖ User Interface: Apps & dashboards for monitoring. Data Processing
& AI: Analyzing & making decisions.
How IoT Works
❖ Sensors collect data.
❖ Data is transmitted via the internet.
❖ Cloud processes & Analyzes the data.
❖ The system takes action (automation, alerts, etc.)
❖ User interaction through dashboards & apps.
IoT Communication Technologies

❖ Short-range: Wi-Fi, Bluetooth, Zigbee.


❖ Long-range: 5G, LoRaWAN, NB-IoT.
❖ Wired: Ethernet, Fiber Optics.

IoT Applications
❖ Smart Homes: Alexa, Smart thermostats.

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❖ Healthcare: Wearable health monitors.
❖ Industrial IoT (IIoT): Predictive maintenance.
• Manufacturing: Predictive maintenance, automation
• Logistics & Supply Chain: Real-time tracking
• Energy Sector: Smart grids, remote monitoring
• Retail: Automated inventory management
❖ Smart Cities: Traffic management, smart lighting.
❖ Agriculture: Smart irrigation systems

Benefits of IoT
❖ Automation & Efficiency.
❖ Cost Savings

❖ Improved Quality of Life.


❖ Better Decision-Making with Data.
Challenges of IoT
❖ Security Risks: Cyber threats

❖ Privacy Issues: Data collection concerns.


❖ Interoperability: Different device compatibility.
❖ High Initial Costs: During installation.

Future of IoT
❖ 5G & Edge Computing will enhance IoT capabilities.
❖ AI & Machine Learning integration.
❖ More autonomous & Smart systems.

Why Combine IoT with Blockchain?


❖ Blockchain enhances IoT by providing:
• Decentralized security: No central authority.
• Tamper-proof data: Immutable records.
• Automated smart contracts: Trusted automation.
• Improved device authentication: Prevents spoofing.
How Blockchain Works in IoT?

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❖ IoT Device Generates Data.
❖ Data is Encrypted & Stored on Blockchain.
❖ Smart Contracts Automate Transactions.
❖ Decentralized Verification Ensures Integrity.

❖ Only Authorized Users Access Data.


Key Benefits of Blockchain for IoT
❖ Enhanced Security: Encrypted and tamper-proof data.

❖ Trust & Transparency: Eliminates centralized control.


❖ Automation with Smart Contracts: Self-executing agreements.
❖ Reduced Costs: Eliminates intermediaries.
Security Enhancements with Blockchain

❖ Blockchain Prevents IoT Attacks:


• Device Authentication: No fake or rogue devices.
• Data Integrity: No unauthorized data changes.
• Automated smart contracts: No single point of failure.
• Resilience: Prevents spoofing.
Challenges of Implementing Blockchain in IoT
❖ Scalability Issues: Blockchain networks can be slow.

❖ Energy Consumption: High processing power required.


❖ Complex Integration: IoT devices must be blockchain-compatible.
❖ Regulatory Uncertainty: Legal & compliance concerns.
Future of IoT and Blockchain

❖ AI + IoT + Blockchain = More intelligent automation.


❖ 5G Networks to speed up IoT transactions.
❖ Eco-friendly blockchain solutions.
❖ Interoperability standards for seamless adoption.

❖ Future innovations will drive mass adoption.

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2 Government & Blockchain
Why Governments Need Blockchain?

❖ Challenges in Government Services:


• Corruption & Fraud: Manipulation of records
• Data Security Issues: Breaches in sensitive data
• Lack of Transparency: Opaque decision-making
• Inefficiency: Bureaucratic delays & paperwork
❖ Blockchain can solve these issues by providing:
• Tamper-proof records
• Decentralized data management
• Automated, transparent processes
Government Applications of Blockchain
❖ Voting Systems: Secure & transparent elections
❖ Public Records Management: Birth, marriage, land ownership

❖ Identity Verification: Digital IDs & passports


❖ Tax & Revenue Collection: Fraud-proof transactions
❖ Supply Chain Transparency: Government procurement tracking

Blockchain for E-Governance


❖ Transforming Governance with Blockchain.
• Digital Identity Management: Secure, single identity verification
• Public Finance Tracking: Ensuring accountability in spending
• Regulatory Compliance Automation: Reducing manual inter-
vention
Blockchain for Voting Systems
❖ Current Issues: Voter fraud, manipulation, low trust.

❖ Blockchain Solution:
• Decentralized Ledger: Tamper-proof vote records.
• Transparency: Real-time vote tracking.
• Secure Identity Verification: Reducing fraud.

Blockchain for Identity Management

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❖ Problem: Identity fraud & complex verification.
❖ Solution: Blockchain-based self-sovereign identities.
❖ Impact:
• Secure digital passports.
• Faster background checks.
• Reduced identity theft.
Blockchain in Land & Property Registration
❖ Problem: Fake ownership claims, missing records.
❖ Solution:
• Tamper-proof records on blockchain.
• Instant verification of ownership.
• No middlemen reducing corruption.
Blockchain for Public Procurement & Supply Chains
❖ Problem: Bid rigging, lack of transparency.
❖ Solution:
• Smart contracts for fair bidding.
• Immutable procurement records.
• Real-time tracking of government supplies.
Benefits of Blockchain in Government
❖ Reduced Corruption: Immutable records prevent manipulation.
❖ Greater Transparency: Open-access ledgers for public accountability.
❖ Faster Services: Automated smart contracts reduce processing times.
❖ Enhanced Security: Cryptographic protection against cyber threats.
Challenges of Implementing Blockchain in Government
❖ Scalability Issues: Large datasets require fast processing.
❖ Regulatory Uncertainty: Legal frameworks still evolving.
❖ Adoption Barriers: Resistance to change in bureaucratic systems.
❖ Energy Consumption: Some blockchain models are resource-intensive.
The Future of Blockchain in Government
❖ AI + Blockchain for automated governance.
❖ Interoperability between government agencies.
❖ Global standardization of blockchain policies.
❖ Smart Cities powered by blockchain-based public services.

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3 Health & Blockchain
Introduction to Blockchain in Healthcare
❖ Why Blockchain in Healthcare?
• Improves data security.
• Enhances interoperability between systems.
• Reduces fraud & inefficiencies.
Challenges in the Healthcare Industry
❖ Data Breaches: Patient records are prime targets for hackers.
❖ Interoperability Issues: Different systems don’t share data easily.
❖ High Administrative Costs: Billing and claims processing inefficien-
cies.
❖ Counterfeit Drugs: Fake medicines in the supply chain.
❖ Medical Fraud: False insurance claims.
How Blockchain Works in Healthcare
❖ Patient data is encrypted and stored on the blockchain.
❖ Authorized healthcare providers access data via unique keys.
❖ Smart contracts automate claims processing.
❖ Decentralized network ensures data security & transparency.
Benefits of Blockchain in Healthcare
❖ Enhanced Data Security: Prevents unauthorized access.
❖ Improved Interoperability: Standardized patient records.
❖ Faster & Transparent Transactions: Reduces fraud and delays.
❖ Better Supply Chain Management: Tracks drugs from production to
patient.
❖ Patient Ownership of Data: Empowering individuals with control over
their health records.
Usecases of Blockchain in Healthcare
❖ Electronic Health Records (EHRs): Secure and unified patient his-
tory.
❖ Pharmaceutical Supply Chain: Prevents counterfeit drugs.

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❖ Clinical Trials & Research: Ensures data integrity & transparency.
❖ Insurance & Billing: Reduces fraud & automates claims.
❖ Remote Patient Monitoring: Secure sharing of wearable data.
Blockchain for Electronic Health Records (EHRs)
❖ Problem: Patient records are fragmented & vulnerable to breaches.
❖ Solution:
• Decentralized, tamper-proof patient records.
• Patients control access to their own data.
• Quick & secure access for authorized providers.
Blockchain in Pharmaceutical Supply Chains
❖ Problem: Fake and substandard drugs cause harm & loss of trust.
❖ Solution:
• Tracks drugs from manufacturer to patient.
• Prevents counterfeiting & ensures authenticity.
• Regulatory compliance & real-time monitoring.
Blockchain for Medical Insurance & Billing
❖ Problem: Billing fraud, false claims, & slow reimbursements.
❖ Solution:
• Smart contracts automate claims processing.
• Transparent & fraud-proof transactions.
• Faster settlements between insurers & providers.
Blockchain in Clinical Trials & Research
❖ Problem: Manipulation & falsification of trial results.
❖ Solution:
• Immutable trial data for research integrity.
• Transparent sharing of results.
• Increases trust in medical innovations.
Patient-Controlled Health Data
❖ Problem: Patients have little control over their health data.
❖ Solution:

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• Patients grant/revoke access to their data.
• No unauthorized sharing of sensitive medical records.
• Improved personalized care.
Blockchain for Telemedicine & Remote Monitoring

❖ Problem: Privacy concerns in remote health monitoring.


❖ Solution:
• Secure transmission of wearable health data.
• Prevents unauthorized access & hacking.
• Enables real-time patient tracking.
Challenges of Blockchain in Healthcare
❖ Scalability Issues: Large healthcare data requires high-speed processing.
❖ Regulatory Compliance: Needs alignment with HIPAA, GDPR, etc.

❖ Integration Complexity: Existing healthcare systems must adapt.


❖ Cost & Implementation: High initial investment in blockchain tech.
Future of Blockchain in Healthcare

❖ AI + Blockchain for predictive healthcare.


❖ More governments adopting blockchain for health records.
❖ Increased use in medical research & clinical trials.
❖ Global standardization & interoperability frameworks.

4 Financial Crime Protection and Blockchain


How Blockchain Prevents Financial Crime
❖ Tamper-Proof Transactions: Immutable records prevent fraud.

❖ Real-Time Tracking: Monitor transactions instantly.


❖ Greater Transparency: Prevents hidden transactions.
❖ Automated Compliance: Smart contracts enforce rules.
Use Cases of Blockchain in Financial Crime Prevention

❖ Fraud Prevention: Stops identity & transaction fraud.


❖ Anti-Money Laundering (AML): Tracks suspicious transactions.

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❖ Know Your Customer (KYC) Compliance: Secure & verified iden-
tities.
❖ Regulatory Compliance & Reporting: Real-time audits.
❖ Cross-Border Payments Security: Prevents illicit transfers.

Blockchain for Fraud Prevention


❖ Problem: Identity theft, fake transactions, double spending.
❖ Solution:
• Immutable transaction history: Prevents manipulation.
• Cryptographic security: No unauthorized changes.
• AI + Blockchain: Detects fraudulent patterns.
Blockchain in Anti-Money Laundering (AML)
❖ Problem: Criminals hide illegal funds through complex transfers.

❖ Solution:
• Full transaction traceability: No anonymous transfers.
• Automated suspicious activity detection.
• Immutable compliance records: No retroactive changes.

Blockchain for Know Your Customer (KYC) Compliance


❖ Problem: Fraudulent identities & duplicate KYC processes.
❖ Solution:

• Decentralized identity management.


• Instant verification across banks & regulators.
• Reduces compliance costs & delays.
Blockchain in Regulatory Compliance & Auditing

❖ Problem: Manual audits are slow & prone to manipulation.


❖ Solution:
• Smart contracts enforce compliance rules.
• Automatic logging of financial transactions.
• Instant, transparent audits.
Blockchain for Secure Cross-Border Payments
❖ Problem: Cross-border fraud, high remittance costs.

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❖ Solution:
• Instant, verifiable transactions.
• Removes need for intermediaries.
• Prevents fraudulent chargebacks.
Benefits of Blockchain in Financial Crime Protection
❖ Prevents fraud & identity theft.
❖ Enhances AML & KYC compliance.
❖ Reduces financial crime investigation time.
❖ Improves transparency & accountability.
❖ Automates fraud detection through smart contracts.
Challenges of Blockchain in Financial Crime Prevention
❖ Scalability Issues: Large financial systems require fast processing.
❖ Regulatory Uncertainty: Blockchain laws are still evolving.
❖ Privacy Concerns: Balancing transparency & personal data protection.
❖ Integration with Legacy Systems: Requires major tech upgrades.
Case Studies of Blockchain in Financial Crime Prevention
❖ Real-World Implementations:
• JPMorgan: Blockchain-based cross-border payments security
• Visa & Mastercard: Blockchain fraud detection networks
• European Union: Blockchain for AML & financial crime tracking
• Singapore’s Central Bank: Blockchain-based regulatory compli-
ance
The Future of Blockchain in Financial Crime Protection
❖ AI + Blockchain: Smarter fraud detection.
❖ Greater adoption by central banks for digital currency tracking.
❖ Interoperability among global financial systems.
❖ Tighter regulations & compliance standards for blockchain

Thank Q!
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