Blockchain and IBM Watson IoT Platform can provide benefits for IoT applications by creating an immutable record of IoT data transactions. Blockchain allows devices to directly write data to a distributed ledger without centralized control, ensuring trust and transparency across business networks. The Watson IoT Platform can connect devices, integrate data sources, perform analytics, and manage risk. It also has capabilities to interface IoT data with a private blockchain via APIs. This allows shared access to IoT data among relevant parties in use cases like supply chain management, part lifecycle tracking, and smart buildings. Examples demonstrate how blockchain could record data for shipping, regulatory compliance, and carbon credit exchanges through the Watson IoT Platform.