Regulated Blockchain Enabled Market for Internet of Things

Pengyu Liu; Enyuan Zhou; Song Guo; Zicong Hong; Wuhui Chen; Bin Xiao

doi:10.1007/978-3-032-06176-8_4

Regulated Blockchain Enabled Market for Internet of Things

Pengyu Liu
, Enyuan Zhou^*
, Song Guo
, Zicong Hong
, Wuhui Chen
, Bin Xiao

^*Corresponding author for this work

Department of Computer Science and Engineering

Research output: Chapter in Book/Conference Proceeding/Report › Conference Paper published in a book › peer-review

Abstract

Trading is an effective way to exchange resources such as energy, data, and computing services between Internet of Things (IoT) for mutual benefit. The emerging blockchain-enabled market facilitates the transparency and traceability of trading, but poses new challenges to the financial stability of the market. The existing blockchain-enabled market framework is designed as a completely free market, and due to the inherent characteristics of blockchain, it is difficult to take effective measures to maintain financial stability. To address this challenge, we propose a regulated blockchain-enabled market framework for IoT devices. Based on the heterogeneous interacting agent theory in economics, we study the price dynamics and equilibrium in the market. We establish a trading smart contract that supports trading among IoT devices, and provides the market regulator with interfaces to adjust the regulatable factors in the market to promote financial stability. A prototype system of our framework is implemented in Ethereum. The experimental results demonstrate the low execution cost of the smart contract, the correctness of our theoretical analysis for the market, and the effectiveness of the regulatory policies.

Original language	English
Title of host publication	Blockchain – ICBC 2025 - 8th International Conference, Held as Part of the Services Conference Federation, SCF 2025, Proceedings
Editors	Rudrapatna K. Shyamasundar, Huawei Huang, Songlin He, Junbin Fang, Liang-Jie Zhang
Publisher	Springer Science and Business Media Deutschland GmbH
Pages	59-73
Number of pages	15
ISBN (Print)	9783032061751
DOIs	https://doi.org/10.1007/978-3-032-06176-8_4
Publication status	Published - 2026
Event	8th International Conference on Blockchain, ICBC 2025, held as part of the Services Conference Federation, SCF 2025 - Hong Kong, China Duration: 27 Sept 2025 → 30 Sept 2025

Publication series

Name	Lecture Notes in Computer Science
Volume	16155 LNCS
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Conference

Conference	8th International Conference on Blockchain, ICBC 2025, held as part of the Services Conference Federation, SCF 2025
Country/Territory	China
City	Hong Kong
Period	27/09/25 → 30/09/25

Bibliographical note

Publisher Copyright:
© The Author(s), under exclusive license to Springer Nature Switzerland AG 2026.

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities

Keywords

Blockchain enabled market
Financial stability
Internet of Things
Market regulation
Smart contract

Access to Document

10.1007/978-3-032-06176-8_4

Cite this

Liu, P., Zhou, E., Guo, S., Hong, Z., Chen, W., & Xiao, B. (2026). Regulated Blockchain Enabled Market for Internet of Things. In R. K. Shyamasundar, H. Huang, S. He, J. Fang, & L.-J. Zhang (Eds.), Blockchain – ICBC 2025 - 8th International Conference, Held as Part of the Services Conference Federation, SCF 2025, Proceedings (pp. 59-73). (Lecture Notes in Computer Science; Vol. 16155 LNCS). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-3-032-06176-8_4

Liu, Pengyu ; Zhou, Enyuan ; Guo, Song et al. / Regulated Blockchain Enabled Market for Internet of Things. Blockchain – ICBC 2025 - 8th International Conference, Held as Part of the Services Conference Federation, SCF 2025, Proceedings. editor / Rudrapatna K. Shyamasundar ; Huawei Huang ; Songlin He ; Junbin Fang ; Liang-Jie Zhang. Springer Science and Business Media Deutschland GmbH, 2026. pp. 59-73 (Lecture Notes in Computer Science).

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title = "Regulated Blockchain Enabled Market for Internet of Things",

abstract = "Trading is an effective way to exchange resources such as energy, data, and computing services between Internet of Things (IoT) for mutual benefit. The emerging blockchain-enabled market facilitates the transparency and traceability of trading, but poses new challenges to the financial stability of the market. The existing blockchain-enabled market framework is designed as a completely free market, and due to the inherent characteristics of blockchain, it is difficult to take effective measures to maintain financial stability. To address this challenge, we propose a regulated blockchain-enabled market framework for IoT devices. Based on the heterogeneous interacting agent theory in economics, we study the price dynamics and equilibrium in the market. We establish a trading smart contract that supports trading among IoT devices, and provides the market regulator with interfaces to adjust the regulatable factors in the market to promote financial stability. A prototype system of our framework is implemented in Ethereum. The experimental results demonstrate the low execution cost of the smart contract, the correctness of our theoretical analysis for the market, and the effectiveness of the regulatory policies.",

keywords = "Blockchain enabled market, Financial stability, Internet of Things, Market regulation, Smart contract",

author = "Pengyu Liu and Enyuan Zhou and Song Guo and Zicong Hong and Wuhui Chen and Bin Xiao",

note = "Publisher Copyright: {\textcopyright} The Author(s), under exclusive license to Springer Nature Switzerland AG 2026.; 8th International Conference on Blockchain, ICBC 2025, held as part of the Services Conference Federation, SCF 2025 ; Conference date: 27-09-2025 Through 30-09-2025",

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Liu, P, Zhou, E, Guo, S, Hong, Z, Chen, W & Xiao, B 2026, Regulated Blockchain Enabled Market for Internet of Things. in RK Shyamasundar, H Huang, S He, J Fang & L-J Zhang (eds), Blockchain – ICBC 2025 - 8th International Conference, Held as Part of the Services Conference Federation, SCF 2025, Proceedings. Lecture Notes in Computer Science, vol. 16155 LNCS, Springer Science and Business Media Deutschland GmbH, pp. 59-73, 8th International Conference on Blockchain, ICBC 2025, held as part of the Services Conference Federation, SCF 2025, Hong Kong, China, 27/09/25. https://doi.org/10.1007/978-3-032-06176-8_4

Regulated Blockchain Enabled Market for Internet of Things. / Liu, Pengyu; Zhou, Enyuan; Guo, Song et al.
Blockchain – ICBC 2025 - 8th International Conference, Held as Part of the Services Conference Federation, SCF 2025, Proceedings. ed. / Rudrapatna K. Shyamasundar; Huawei Huang; Songlin He; Junbin Fang; Liang-Jie Zhang. Springer Science and Business Media Deutschland GmbH, 2026. p. 59-73 (Lecture Notes in Computer Science; Vol. 16155 LNCS).

Research output: Chapter in Book/Conference Proceeding/Report › Conference Paper published in a book › peer-review

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AU - Liu, Pengyu

AU - Zhou, Enyuan

AU - Guo, Song

AU - Hong, Zicong

AU - Chen, Wuhui

AU - Xiao, Bin

N1 - Publisher Copyright: © The Author(s), under exclusive license to Springer Nature Switzerland AG 2026.

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Y1 - 2026

N2 - Trading is an effective way to exchange resources such as energy, data, and computing services between Internet of Things (IoT) for mutual benefit. The emerging blockchain-enabled market facilitates the transparency and traceability of trading, but poses new challenges to the financial stability of the market. The existing blockchain-enabled market framework is designed as a completely free market, and due to the inherent characteristics of blockchain, it is difficult to take effective measures to maintain financial stability. To address this challenge, we propose a regulated blockchain-enabled market framework for IoT devices. Based on the heterogeneous interacting agent theory in economics, we study the price dynamics and equilibrium in the market. We establish a trading smart contract that supports trading among IoT devices, and provides the market regulator with interfaces to adjust the regulatable factors in the market to promote financial stability. A prototype system of our framework is implemented in Ethereum. The experimental results demonstrate the low execution cost of the smart contract, the correctness of our theoretical analysis for the market, and the effectiveness of the regulatory policies.

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Liu P, Zhou E, Guo S, Hong Z, Chen W, Xiao B. Regulated Blockchain Enabled Market for Internet of Things. In Shyamasundar RK, Huang H, He S, Fang J, Zhang LJ, editors, Blockchain – ICBC 2025 - 8th International Conference, Held as Part of the Services Conference Federation, SCF 2025, Proceedings. Springer Science and Business Media Deutschland GmbH. 2026. p. 59-73. (Lecture Notes in Computer Science). Epub 2025 Sept 22. doi: 10.1007/978-3-032-06176-8_4