Blockchain-Enabled Satellite Onboard Computing for Smart Contract: Benefits for Multi-sided Markets and IoT Applications

Background: We investigate the potential of blockchain technology integration into satellite onboard computing systems, with the aim of harnessing smart contracts and improve multi-sided market definitions and machine-to-machine (M2M) relations from an Internet of Things (IoT) perspective. The study considers the roles of various industry actors, including satellite operators, IoT device manufacturers, service providers, and end-users. Methods: The proposed system is designed to leverage the benefits of blockchain technology, such as distributed ledger, smart contract, and cryptographic security. These features create a decentralised and trustless environment for satellite-based IoT applications. Additionally, smart contracts facilitate the automatic execution of predefined conditions, ensuring secure and transparent interactions between different parties in the system. Results: The study provides a detailed analysis of the benefits of using blockchain-enabled satellite onboard computing for multi-sided markets. These benefits include enabling new business models, reducing transaction costs, and increasing market transparency. The system also enhances M2M relations in IoT applications by allowing devices to interact and transact autonomously without central intermediaries. Conclusions: The paper shows that integrating blockchain technology into satellite onboard computing systems can enable a new generation of satellite-based IoT applications. These applications offer improved security, privacy, and efficiency, creating significant opportunities for industry actors and end-users.