The world if IT is an exceptionally exciting place in the 21st century so far, as many emerging industries such as Robotics, Artificial Intelligence, and Virtual Reality are gaining momentum and are set to change fundamental things in the way we live our lives. However, among all the new merging technologies, there is none that is projected to be bigger in sheer size or expected to be as widespread as the Internet of Things. It is expected that by 2020 the number of autonomous internet-connected devices across the world will be over 20 billion and that growth is not expected to slow down in the times ahead.
Despite the tremendous growth expected in this IoT industry across the planet, this is a new industry that comes with the teething problems faced by all others before. A plethora of problems have emerged and are seriously denting the penetration speeds of IoT across the world, as some of these problems have deterred certain industries from joining the IoT revolution. As with all places where data is created and disseminated, security is a huge challenge for the IoT industry as companies and businesses fear that their precious data might be at risk of being accessed without their consent by anyone with access to the internet. As of present, the cost of integrating into an IoT world is quite steep which eliminates many small businesses from the equation, and lastly there just aren’t enough resources at present to support the demand of the IoT industry in data, ensuring the industry is far from scalable in its present form.
The IoTex Option
IoTex is brand new fully dedicated blockchain platform that was created from the scratch to serve as the backbone upon which a scalable, easy to integrate, and cost-efficient IoT industry can be built. IoTex is a completely unique blockchain unlike most other IoT-related platforms so far, it was created to solve the various emerging problems that plague the long-term viability of the IoT industry.
It is built to be the one-stop, all-convenience platform upon which entire industries can build their IoT resources in a safe and highly cost-efficient manner. IoTex hopes to empower the IoT industry with a stable infrastructure that is easily accessible to all levels and sizes of businesses across the world.
All Solutions On Deck
IoTex hopes with its cutting-edge tailor-made blockchain hopes to provide key solutions that the IoT industry desperately needs in order to sustain achieve the predicted growth without imploding. IoTex is creating a token economy around the creation, transmission and use of IoT generated data. This provides great incentives for businesses and companies around the world to not only adopt this groundbreaking innovation but also opens completely new markets for business.
IoTex with the aid of the blockchain technology will ensure all data exchange is transparent and accounted for, and that companies hosted on its platform have complete control on who access it. The platform which has already rolled out a testnet version of its blockchain hopes that when all the work is done and the platform is fully operational, the IoT industry will be seamlessly interoperable, breaking away from its current fragmented form.