Blockchain is a disruptive technology that has been characterized as the next big thing and has already gained broad recognition from experts in diverse fields. In this article, we consider the possible use cases and applications of the blockchain for the consumer electronics (CE) industry and its interplay with the Internet of Things (IoT). Instead of discussing how the blockchain can revolutionize the supply chain, we focus on how it could be used to enhance the security of networked CE devices. This work was motivated by the many recent attacks in which easily hackable devices were used as weaponry. We also present privacy and data-protection aspects of blockchain solutions and link them to regulatory framework provisions. Information on existing blockchain solutions is also provided.