Blockchain technology has emerged as a promising solution for secure and
decentralized electronic payments. The emergence of the Internet of Things (IoT) and
the Internet of Vehicles (IoV) has opened up new possibilities for the adoption of
electronic payment systems based on blockchain technology. This book chapter
examines the possibilities of blockchain technology for online transactions. We talk
about the difficulties and restrictions faced by blockchain-based payment systems in
the IoV, such as scalability, interoperability, and legal compliance. We also discuss
likely solutions to address these challenges, such as new consensus mechanisms and
off-chain transactions. Additionally, we explore emerging technologies and their
potential impact on electronic payments in the IoV, including AI and IoT. Finally, we
discuss opportunities for future research and advancement in the sphere of electronic
payments in the IoV, and how we can enable a more seamless, secure, and innovative
payment ecosystem in the IoV.
Keywords: IoT, IoV, Blockchain, Electronic payments.
