A Blockchain Based Micro Payment System for Smart Devices

In most currently used micro payment systems, pre-paid cards or mobile are used as the payment medium. We design an embedded secure bitcoin payment module to realize the automatic payment. We propose a security protocol which mainly deals with the transaction process in a blockchain based gas payment system as well.

Existing payment methods in IoT usually use pre-stored cards or mobile devices as the payment medium. NFC-based gas mobile payment system relies on the third-party financial institutions, which may bring security problems.

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https://www.researchgate.net/publication/311789642