IoT and the Blockchain

[Abiky]

The emerging Blockchain tech brings many benefits to the world such as proof of ownership, secure transfer of money, and more. Via the use of IoT-enabled devices, it'll be possible to provide services to people within the mainstream world without the need for human intervention. For example, an individual can pay to a smart washing machine using a specific cryptocurrency to obtain clean his/her clothes (service). The same way, a user can pay a smart vending machine to obtain the product in an instant and feeless way.

IOTA promises this and many more, as well as, IoTEX. As such, it's only a matter of time before IoT becomes widely successful via its integration with Blockchain tech. Nonetheless, what do you think the future would be like with IoT and the Blockchain? Will IoT become better? What's your take on this?

[wattcrypto]

Are there any current partnerships that this chain has achieved? I was just reading about the partnership of Moac and China mobile which is pretty cool. Are the platforms similar?

[Tipstar]

IOT is the future of technology. For a combined ecosystem, no independent startup singly be able to achieve that feat.
If any one that can successfully implement blockchain in IOT with their range of hardware and software are the large tech companies.

[neonshium]

Since they are still in the promise stage, I think we just have to wait and see what they have to offer, we have seen a lot of project that came with good promises of what they would implement, but after a long run failed to make all the implementation they promised.

So for now, I can just say the best we can have is faith in them that they will deliver exactly what they have promised, i might hold a little of the coin incase it happens.

[akeegan]

I'm assuming you heard the partnership between Moac and China Mobile which is pretty huge for their country

[Abiky]

IOT is the future of technology. For a combined ecosystem, no independent startup singly be able to achieve that feat.
If any one that can successfully implement blockchain in IOT with their range of hardware and software are the large tech companies.

Agree. Large tech companies like Microsoft and Google could bring IoT into mass adoption. With the Blockchain's proven benefits for IoT, the industry can improve in many ways that were never thought possible. Blockchain is truly the missing piece of the puzzle, as it will enable an autonomous economy with IoT devices spread all over the world. One startup which is known to bring IoT to the Blockchain industry, is known as the IOTA Foundation.

If successful, IOTA can become used by millions of devices worldwide. It's been proven to be highly scalable and cost-efficient for microtransactions. While its security is uncertain, it shows that it's possible to make Blockchain better and adaptable to everyday devices without the need for resource-intensive consensus mechanisms such as PoW and even PoS (although not as much as PoW).

Nonetheless, the field of IoT may succeed or fail altogether if it doesn't experience mainstream adoption. There needs to be people using IoT devices at a large scale, for this to work. With the introduction of Blockchain into IoT, it's hoped that things will change for the better in the future. So far, two projects have been working heavily into making IoT a better place and those are IOTA and IoTEX. Just my thoughts

[chocopapaya]

I don't know, because IoT itself is very speculative.
There are many pushing for that, but others trying to create their own hyperconnected world.
I don't think we live in a world where one thing can dominate, so whether IoT penetrates the globe, well, I'm skeptical on that.

And IOTAs biggest draw is being THE transactional platform for IoT.
Yeah, it is free and instant.
But the future of crypto is not in payments, but in useability.

IOTA has been marred with technical problems from the beggining.
It's understandable as it is brand new tech.
But the way it has been managed hasn't really been the best either.

I think the end of 2018 there will be a lot more clairity on the direction of all of this.

[Abiky]

I don't know, because IoT itself is very speculative.
There are many pushing for that, but others trying to create their own hyperconnected world.
I don't think we live in a world where one thing can dominate, so whether IoT penetrates the globe, well, I'm skeptical on that.

And IOTAs biggest draw is being THE transactional platform for IoT.
Yeah, it is free and instant.
But the future of crypto is not in payments, but in useability.

IOTA has been marred with technical problems from the beggining.
It's understandable as it is brand new tech.
But the way it has been managed hasn't really been the best either.

I think the end of 2018 there will be a lot more clairity on the direction of all of this.

Good point. While IOTA is not perfect, it has a great vision towards helping transform the IoT industry for the better. It only has a few years since inception, yet it's one of the most innovative cryptocurrencies in existence. Of course, the world is not ready yet for full adoption of IoT and Blockchain, since they're relatively new technologies. A lot of time is needed for them to mature for the mainstream world.

Speaking of 2018, it was a bright year for the development of Blockchain technology. Several cryptocurrencies have improved their blockchain networks, while new ones started to emerge with new features. Even with the bear market that has deviated the attention of everyday people from crypto, Blockchain is still a hot topic these days. Combining Blockchain with IoT, will make the world a better place.

Nonetheless, the future of crypto is in usability as you've said earlier. Because if the level adoption for a specific cryptocurrency is low, it won't be going anywhere. So far, IOTA is doing good but it's not as popular as other cryptocurrencies. Despite this, its technology is ideal for micropayments, making it the perfect match for IoT devices. Just my thoughts