Must-watch: 500 Billion Reasons why IOTA

The Internet of Things and its use-cases with IOTA

The Internet of Things and its use-cases with IOTA


The Internet of Things has been defined:

in Recommendation ITU-T Y.2060 (06/2012)1 as a global infrastructure for the information society, enabling advanced services by interconnecting (physical and virtual) things based on existing and evolving inter-operable information and communication technologies”.

Source: http://www.itu.int/en/ITU-T/gsi/iot/Pages/default.aspx

A network of billions devices in a globally connected environment.

Electronic devices within industrial processes, electrical systems within infrastructural systems as well as domestic-appliances will be connected with a diverse number of networks in the near future. The upcoming challenges demand a rethinking on a global scale as problems and their solutions will be all part of the Internet 4.0. This economic directive needs a practical solution which has yet to be invented and integrated.

In our very future not just banking-systems will be reshaped, but every aspect of the mechanization and globalization.

Since the global energy-usage is rising about 2.6% annually, the energy transition from fossil resources to renewable energies will be a difficult task (U.S. Energy Information Administration, 2016). Intelligent systems can be used to reduce the energy-consumption in the first place. Adaptive lighting-systems in street lights, households or industrial complexes could be helpful to reduce wastage.

Control of air-pollution, earthquake-monitoring or avalanche-prevention are just a few exemplary use cases for a Blockchain-based system.
IOTA with its revolutionary DAG fits perfectly to solve these technical challenges.
Another use case is the processing of payments where fiat-currency is not an option. As the tangle gets faster the bigger it grows, payment-systems could be based upon it to meet the necessity of fast transactions.

Gartner Inc. expects an estimate of nearly 21 billion devices in 2020 (Table 1, Gartner, 2015).
An obligatory imperative therefore, is a fast and efficient way to connect these devices and to make payment-processing feasible. Existing Blockchains like Bitcoin quarrel with nano-transactions because often, the transaction- fees outstrip the value of the payment. In fact, IOTA is the only Blockchain-based platform with a ZERO-fee directive.

Therefore this fee-free distributed ledger can be the necessary technology to provide the practicality the globalization and energy-transition of the future needs.

Have a great day,

Limo

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