Blockchain-enabled secure IOT framework using energy-efficient functional materials for scalable cross-border financial transactions

Abstract

The quick convergence between IoT and blockchain technologies has opened possibilities for revolutionizing the global finance system across borders, but the issues concerning energy usage, Scalability, Security, and Costs have become major obstacles in their deployment on a massive scale. In this research, we propose an IoT-based blockchain solution using energy-efficient functional materials to solve the issues and facilitate processing of cross-border financial transactions. Our system features a multi-layered architecture combining IoT sensors, edge computing, and permissioned blockchain through lightweight consensus algorithms, which helps to cut down computation costs. At the sensor layer, innovative functional materials, including GaN and SiC, can be used to save energy without sacrificing performance. It employs encryption algorithms that are Secure, Reliable, Efficient, and Use lightweight cryptography techniques. The proposed framework was validated through a simulation based approach, where NS-3.42 was integrated as the network communication modeling tool for IoT networks, Hyperledger Caliper 0.6.0 was used as a performance evaluation tool for the blockchain, and TCAD/Material Project semiconductor models were used to analyze the energy characteristics of GaN and SiC devices. The performance was measured by the following key metrics: energy usage, transaction throughput, end-to-end (e2e) latency, security resilience, and transaction cost in the simulated cross-border financial transaction scenarios. Furthermore, the transaction throughput reaches a maximum value of 4800 transactions per second, whereas the average latencies are around 1.2 s. Furthermore, the framework achieves enhanced security with a probability of secure operation exceeding 0.992 and reduces cross-border transaction costs by up to 94% compared to traditional financial systems. The findings highlight the potential of integrating blockchain, IoT, and energy-efficient materials to develop Sustainable, Secure, and High- Performance digital financial infrastructures for next-generation global applications.