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Internet of Things (IoT) has been the most emerging technology in the last decade because the number of smart devices and its associated technologies has rapidly grown in both industrial and research prospectives. The applications are developed using IoT techniques for real-time monitoring. Due to low processing power and storage capacity, smart things are vulnerable to the attacks as existing security or cryptography techniques are not suitable. In this study, we initially review and identify the security and privacy issues that exist in the IoT system. Second, as per blockchain technology, we provide some security solutions. The detailed analysis, including enabling technology and integration of IoT technologies, is explained. Finally, a case study is implemented using the Ethererum-based blockchain system in a smart IoT system and the results are discussed.