The uptake of connected devices is continuing at a staggering pace. Our love of smart devices in our homes, cars, cities, and those that we carry around with us mean that by the end of the decade, these devices will outnumber humans by 10 to 1. These 100 billion Internet of Things (IoT) devices are creating an intelligent digital mesh that is forming the basis for a whole new generation of platforms and business models.
This rapidly expanding IoT market is also creating a rich stream of data that is generated by smart devices and applications. This data stream is valuable to individuals trying to better understand their own actions and the world around them. But it is also a window into our personal lives. And that window is potentially very lucrative for businesses in trying to better understand their existing or future customers.
Protecting our identities
Unfortunately, it’s become all too common to see little regard paid to our personal data and rights to privacy. Many corporations and even governments have shamelessly tracked our actions, collected our personal information, and even sold it onto third parties. While this has been happening, we’ve had few alternatives to the platforms, apps, and so called protection measures in place. But the status quo is changing.
Web 3.0 technologies enable the re-building of data architectures with privacy and data ownership as foundational principles. This ensures the use of IoT devices benefits the users of those devices, rather than companies, institutions, or governments. So whether you’re a homeowner installing security cameras to protect your home and family, a farmer using drones to monitor crops, or a runner using a fitness tracker to optimise your training, you can be sure you are the person controlling your data.
The Internet of Trusted Things
IoTeX’s mission is to create a borderless ecosystem of IoT devices that can interact in a way that is trusted and privacy preserving. It refers to this vision as the Internet of Trusted Things. This allows for the use of smart devices and connected experiences that are free from intrusive ads or surveillance. IoTeX is helping to establish a new privacy paradigm for smart devices while also helping device builders move in new and better directions.
One of the ways this is occurring is through the creation of verifiable data. This is data produced from devices that are tamper-proof and connected to tamper-proof smart contracts. An example of this is IoTeX’s Pebble Tracker. It is a small, smart device that can provide location, environmental, or motion-tracking data thanks to an incorporated accelerometer, gyroscope, and ambient light sensor. It has integrated GPS support and cellular network connectivity.
The use cases for the Pebble Tracker include industrial supply chain applications and the ability to track a device located anywhere around the world. IoTeX will also soon be moving to create a Raspberry Pi type device that can be used to create verifiable information such as health data. All tamper-proof, decentralised, and running on tamper-proof smart contracts.
IoTeX is additionally exploring entirely new opportunities spanning co-owned data, fractional ownership of data pools, and opt-in information sharing. These new data models are all designed to reward data owners instead of the current models that favour data exploiters who profit from our data.
Amasa X IoTeX
Amasa is excited to have entered into a partnership with IoTeX to help data owners and data users gain greater control over and benefits from data. Amasa and IoTeX have a shared vision of a decentralised, Web 3.0 powered world that rewards users and network participants, not people or organisations that exploit them.
With IoTeX’s recent listing on Coinbase, the US market can now get exposure to the secure and trusted IoT and blockchain connected ecosystem that IoTeX is helping to build. It is a great validation of the project and Amasa is proud to be partnered with another visionary and world changing company.
Amasa’s mission is to empower anyone, anywhere in the world to capture and capitalise on the wealth building potential of micro income streams and DeFi. We are working to inspire mass adoption of Web 3.0 platforms that reward participants for their gaming, time, energy, attention, content, data and interactions.
We’re doing that by building the world’s first micro income stream investment app. The Amasa app will make micro income streams easy to capture, combine and access as a stabilised income, then amplify through user-selected DeFi investment options.
Combine. Stabilise. Amplify. All in the background of everyday life.
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