The aim of the study is to explore the use of blockchain technology in the Internet of Vehicles (IoVs), especially as regards matters of security and privacy in IoV ecosystems. The literature review from a number of studies which have been carefully examined and juxtaposed shows that decentralized nature, data immutability, and cryptographic protection make Blockchain well fit for meeting challenges in peer-to-peer energy trading, secure data management, and decentralized vehicle interactions. Among other advantages, the review avails tamper-proof data transfer, enhanced confidentiality, and reduction of reliance on middlemen. In the IoV environment, however, scalability issues, regulatory constraints, and resource limitations present significant barriers. This review has highlighted those tailored solutions, including IoV-specific consensus mechanisms, and updated legal frameworks, are necessary to address these challenges. This calls for future research on blockchain technology, which has the transformative potential to construct secure and transparent smart transportation systems.