Multi-vendor IoT-based Resource Sharing using OAuth and Blockchain

Abstract

Scarcity of resources is a major problem associated with growing urbanization across the globe. A natural way to address the issue is to share the resources. This solution is not only cost-effective but also sometimes environment friendly. However, sharing resources among people in a trustless environment (in big cities, people do not know each other) and preserving the participant’s privacy are important issues to be addressed. Internet-of-Things and Blockchain together are being considered by the researchers to develop solutions for different smart city applications. In this paper, we propose a privacy preserving blockchain-based framework for multi-vendor IoT-based resource sharing for smart cities. OAuth is integrated with the proposed framework to authorize the blockchain to make the payment from the requester to the service provider. The proposed solution is implemented on the EOS blockchain instead of Ethereum because EOS does not require a fee for executing the smart contract and can conduct millions of transactions per second.