Embodiments herein relate to system and method for secure authentication and authorization between a user device and an Internet of Things (IoT) device that is associated with an asset. The method includes onboarding, using a centralized computing device having one or more processors that are operatively associated with a distributed ledger, the user device with a user at least based on a public key identity of the user device; onboarding the user of the user device with the user device; onboarding an identity of the IoT device and the asset such that association between the asset and the IoT device is endorsed on the distributed ledger; and facilitating, through the centralized computing device, the user device to retrieve a first set of data packets representative of any of a relevant electronic authoritative document(s), associated consensus proof(s), and block header(s) from the distributed ledger.