Another one of the blockchain use cases in the oil and gas industry is the data storage of the IoT devices. In reality, with the evolution of technology, companies now use a lot of IoT devices to monitor their various operations.

However, the security for the data that the IoT devices collect is almost nonexistence. In general, IoT devices don’t have any decentralized structure, so they are prone to attack and very vulnerable to cyber hacks.

But if the companies start to use blockchain as the primary storage for the data, they can safeguard all of the information from the wrong hands. It can actually offer a secured layer with cryptography to encrypt all the data and make it private property.