фото показано с : invezz.com

IoTeX (IOTX/USD) was born in 2017 as an open-source project with the mission of creating a decentralized platform to empower open economics for machines. The IOTX token connects the physical and digital world with the goal of facilitating billions of devices on its blockchain.

Invezz recently had the opportunity to interview IoTeX CEO Raullen Chai to better understand the blockchain internet of things (IoT) universe and what investors can expect next from the company.

Around 99% of devices and their corresponding data is controlled by a small minority of companies, Chai told Invezz. These include the usual suspects like Google or Tesla. In fact, these tech behemoths know their users “probably better than yourself.”

Prior to leading IoTeX, Chai was a senior software engineer at Google with other tech experience at Oracle and Uber. Unlike Silicon Valley, IoTex is “crypto native” and part of the “social movement against the traditional paradigm.”

Chai said he was motivated to create a solution for the rapidly growing IoT universe. His vision is to leverage the blockchain network to push out tech companies and return power back to the people. He said:

The vision of Web 2.0 is to retain this ownership of data, devices, financial assets back to their owners. 

There isn’t a lot of innovation taking place in the IoT universe right now and the space is becoming crowded between distributors, software developers, among others. This is not a “right paradigm” over the next decade and beyond. He said:

So, we need like a free market system for the IoT devices and innovation to grow.

Ucam is the world’s first private home security camera that is powered by the IoTeX blockchain. Current home security cameras are vulnerable to hacks, unlike IoTex’s camera where the blockchain allows for the creation of an encryption key. This makes sure that the rightful user is the only one that can access the security camera’s videos.

The CEO said:

You own your own privacy, you own all the camera data that’s produced by your camera.

IoTex describes its Pebble hardware product as a secure, multi-sensor, cellular IoT prototyping platform that uses a tamper-proof secure element to convert real-world phenomena into verifiable and blockchain-ready data.

Some of the data points it can collect include speed, humidity, temperature, carbon dioxide levels, among others.

The data is tamper-proof and sent to the blockchain. One real-life use case is through a partnership with Travala. A business traveler can leverage Pebble to automatically prove they traveled to the intended destination and their employer can automatically reimburse the costs via a smart contract.

Another example of Pebble’s use case is through a company called Consensus Network that operates HealthNet, a blockchain-powered logistics tool that targets medical supply chains.

In this case, Pebble Tracker leverages real-time and trusted data to automate part of the supply chain process, allow for multi-stakeholder collaboration, and minimize workflow disruptions.

One of the top priorities for IoTeX moving forward is bootstrapping the ecosystem.

IoTeX is an open ecosystem that attracts more projects and the company’s Objectives and Key Results (OKR) is to have at least 100 projects coming to IoTeX by the end of the year, up from around 20 today.

Another initiative is dubbed “IoTeX 2.0” which consists of opening up the protocol for the external world. He said:

This product will be the gateway, or maybe a hub, for IoTeX to interact with devices and machines. So this will come out probably later this year or Q1 next year.

The post IoTeX CEO: ‘you own your own privacy’ appeared first on Invezz.

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