ROLE OF BLOCKCHAIN IN ENHANCING IoT CYBERSECURITY ON DIGITAL ECOSYSTEM: A GLOBAL PERSPECTIVES

Abstract Blockchain technology, when integrated with the Internet of Things (IoT) network, represents a transformative approach to enhancing cybersecurity across a rapidly expanding digital ecosystem. This convergence addresses the inherent vulnerabilities in traditional IoT systems by leveraging blockchain's decentralized, immutable ledger system for secure communication and data exchange among IoT devices. As IoT devices proliferate, projected to reach 30.9 billion by 2025, the need for robust cybersecurity measures become increasingly critical. Blockchain technology offers a promising solution to this challenge by providing enhanced security features, such as tamper-resistant data recording and transparent, verifiable transactions, which significantly mitigate risks of unauthorized access and data breaches. Thus, study initially conducted selection and screening of 100 literature review sources on the subject matter and only 29 were finally included, evaluated and analysed. Through critical evaluation and interpretation of current and relevant industry, business, and institutional, and academic literature resources via various databases, case studies, and government catalogue. The study key findings reveal that integration of blockchain into IoT networks not only enhances security but also introduces new paradigms for operational efficiency, privacy, and data integrity. By enabling direct, secure, and tamper-proof communication between devices, blockchain technology reduces reliance on centralized control mechanisms, thereby lowering the risk of systemic failures and cyberattacks. Furthermore, this study findings further indicated that blockchain's ability to secure data exchange across IoT devices opens avenues for innovative applications across various sectors, including supply chain management, healthcare, and smart city infrastructure, showcasing its versatility and transformative potential. However, the integration of blockchain with IoT networks is not without challenges. This study indicated that technical limitations related to scalability, energy consumption, and interoperability need to be addressed to fully leverage the benefits of this convergence. Additionally, concerns around data privacy, network security, and the establishment of universal standards for cross-domain IoT communications highlight the complexities involved in integrating these technologies. Despite these challenges, ongoing research and development efforts, coupled with collaborative initiatives to standardize protocols and practices, continue to push the boundaries of what is possible in securing IoT networks through blockchain technology. In essence, the fusion of blockchain technology and the IoT network in cybersecurity holds the promise of creating a more secure, efficient, and trustworthy digital world. As these technologies evolve, their integration is expected to pave the way for new business models, enhance operational efficiencies, and establish new norms for data privacy and security in an increasingly interconnected ecosystem.