Sharing a file that contains multimedia data among the different peers of wireless Internet of Things (IoT) networks has several challenges. One of the main challenges is their centralized system, which leads to high‐security risk and low user reachability. One solution could be to simply change the system to a decentralized network by using the blockchain network to store these files. However, it may solve the low user reachability and security problem at the cost of low latency, longer response time, scalability and privacy issues. Therefore, this article uses the advanced blockchain scheme and distributes InterPlanetary File System. We also presented the system framework and its working. Finally, we do the security analysis of our proposed system and found that it has strong potential to solve most of the security challenges that traditional system faces. Moreover, our proposed approach can be applied to any file‐changing wireless IoT network that needs to exchange multimedia data such as healthcare data, IoT data in wearable devices, traffic data in smart cities, etc.