A NEW ONLINE ECONOMY

IoTeX is leading the decentralisation of the machine economy - Claire Biasco and Marcos Dinnerstein explore how strengthening the connection between the physical and digital worlds is empowering a more equitable future.

FOR THE FIRST TIME IN THE HISTORY OF THE INTERNET, YOU CAN SEE AND CONTROL HOW YOUR DATA IS USED, INCLUDING ACCESSING DAPPS THAT LET YOU MONETIZE YOUR DATA.

Web2 saw the development of the Internet of Things (IoT), blockchain, cryptocurrencies, decentralised finance (DeFi), Big Data, and Artificial Intelligence. These were evolving independently and had not yet combined their strengths to become more prominent. The data generated and the revenue from that data have Big Tech's exclusive property.

By the end of this year, over one billion health fitness wearables will be connected to the internet. By 2030, according to McKinsey & Company, over 120 billion smart machines will generate an IoT economy valued at up to $12.6 trillion.

Decentralised blockchain projects like IoTeX have built revolutionary technology challenging centralized powers to ensure individuals get back control of their data, their smart devices, and the value they generate, in a bid toward a more equitable future.

IoTeX is leading a new online economy based on machine-to-machine and person-to-machine transactions. These transactions are fully automated with software-based contracts - smart contracts. IoTeX calls this economy MachineFi.

Now, we see the convergence of each of these technologies, and the result is MachineFi, which integrates connected devices, blockchain, DeFi, AI, and Machine Learning.

MachineFi makes it possible to uncouple the data pools from the big tech companies and return the value to its rightful owners, the creators. This has only become possible because these separate technologies are now being employed in concert.

The interplay of these parts creates an economic system where business is conducted autonomously - machine to machine and people to devices. Now the everyday people who own these revenue-producing machines can participate in this new economy, MachineFi.

But how will you and I be a part of this new economy?

The MachineFi Portal is a first-of-its-kind gateway to securely connect these technologies and make them available to individuals and businesses.

If you don't have a Pebble yet, you can still go to portal.machinefi.com to get a Virtual Demo Device and explore how the MachineFi Portal works.

IOTEX IS LEADING A NEW ONLINE ECONOMY BASED ON MACHINE-TO-MACHINE AND PERSON-TO-MACHINE TRANSACTIONS.

The digital economy functions using this input from the real world. Whether it's proving you performed an action, measured the temperature at a given location, lowered your blood pressure, used your autonomous tractor to plant this year's crop —whatever people or businesses value— there's incredible value in mirroring the real world online. Now people, not just corporations, can enjoy this value.

For the first time in the history of the internet, you can see and control how your data is used, including accessing DApps that let you monetize your data.

The MachineFi portal is something new to the world, and hundreds of people can register their blockchainpowered Pebble Tracker on the MachineFi portal and explore how it works. In the future, other devices will be able to connect to this portal, exposing entirely new suites of data to these DApps.

With MachineFi and the MachineFi portal, IoTeX has kicked off a new era in which people can easily take back control over their lives, challenging the power Big Tech currently has.

Founded in 2017, IoTeX is an EVM-compatible blockchain platform to fuel the Internet of Trusted Things, an open ecosystem where humans and machines can interact with guaranteed trust and privacy. IoTeX envisions a future where everyday people can own and control their smart devices, as well as the data and value they generate.

Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, decentralized identity, and secure hardware to enable user-owned IoT devices and networks. IoTeX will empower the future machine economy and redefine the trillion-dollar IoT industry by connecting the physical and digital worlds.

MACHINEFI MAKES IT POSSIBLE TO UNCOUPLE THE DATA POOLS FROM THE BIG TECH COMPANIES AND RETURN THE VALUE TO ITS RIGHTFUL OWNERS, THE CREATORS.