Method and system for IOT device digital asset permission transfer system using blockchain network

A system for protection of data transfers for internet of things devices using a blockchain, comprising:

• a blockchain network;
• an internet of things (IoT) device;
• an external device;
• and
• a node in the blockchain network, where the node includes
• a receiver configured to receive a data message from the IoT device, the data message being formatted according to an IoT messaging protocol and including at least a device identifier associated with the IoT device and encrypted data,
• a processor configured to generate a new block including a block header and one or more data values, wherein the one or more data values includes the received data message, which includes (i) at least the device identifier associated with the IoT device from which the data message is received, and (ii) the encrypted data, and wherein the block header includes at least a timestamp, a block reference value, and a data reference value based on the one or more data values, and
• a transmitter configured to transmit the generated new block to a plurality of additional nodes in the blockchain network where a confirmation process of the new block occurs by the plurality of additional nodes verifying the block reference value and data reference value, wherein
• the receiver is further configured to receive confirmation of the new block from each additional node of the plurality of additional nodes,
• upon the receiver receiving confirmation of the new block, the transmitter is further configured to transmit the new block to all of the blockchain nodes in the blockchain network for addition to the blockchain,
• the receiver is further configured to receive a data request from an external device, the data request including at least an external identifier associated with the external device,
• the node is configured to verify permission of the external device to access the encrypted data based on at least the external identifier and the device identifier by accessing permission information stored in an active directory system that is external to the blockchain network, said permission information includes at least the external identifier, the device identifier and information regarding the permission, and
• the transmitter is further configured to transmit the encrypted data to the external device.