EXPLORING THE OPPORTUNITIES: BLOCKCHAIN INTEGRATION IN IoT AND ADDRESSING CHALLENGES IN NORTH MACEDONIA
Puhiza ISENI, Suela RUSHITI, Nadije JAKUPI
Abstract
In an era of rapid technological growth, the merging of Blockchain technology and the Internet of Things (IoT) offers new prospects for innovation. This article examines the advantages of using blockchain technology into IoT systems for North Macedonia, emphasizing the unique problems and solutions that this setting presents. The article first explains the principles of blockchain and the Internet of Things (IoT) before examining the current state of affairs and how adoption is being hampered by laws, technological constraints, and cybersecurity issues. Multiple strategies, specifically tailored to this context, are proposed, drawing from global best practices and local research studies conducted within North Macedonia. These include technological advancements and regulatory reforms like stakeholder collaboration drives aimed at raising awareness campaigns and other initiatives that could drive success in the coming years! What socioeconomic effects these developments might have is also discussed; this emphasizes the urgent need for government direction to ensure that everyone gains equally and that no one person has an unfair advantage over others through the creation of policy frameworks that are specifically designed to preserve all opportunities.
Pages:
266 - 274