IOTA Decentralized Economy of Things platform A Distributed Ledger Technology www.iotatoken.com
The Team David Sønstebø Sergey Ivancheglo Serguei Popov, Ph.D Dominik Schiener Management & Strategy Development & Cryptography Math & Cryptography Development & Strategy
Cloud Limitations
20 Billion Devices Will Be Connected To The Internet Of Things By 2020 - Gartner Significant investment High Latency Network congestion Inevitable Downtime Vulnerable to privacy leaks and attacks Struggling with exploding IoT traffic
IOTA came about as a necessary software evolution for IoT hardware solutions - David Sønstebø, Founder of IOTA. The IOTA opportunity The team behind IOTA recognized the problem of the cloud and founded their hardware startup at 2014 focused on bringing cost-effective processing to millions of devices in Fog/Mist environments During their work, they realized the lack of economic backbone for IoT Due to their cryptographic experience, they seen an opportunity and requirement for a Fog/Mist platform
The IOTA team conclusions About 40% of IoT potential can be realized through interoperability. Average fees on transactions by processors exceed the average micro-transactions of IoT - McKinsey and Gartner For IoT to reach its full potential it needs to be fully interoperable Infrastructure resources are scarce and the demand always increasing None of the established centralized payment processors able to enable the IoT economy
The solution Rethink from scratch A revolutionary new distributed ledger designed for Machine-to- Machine interactions, making security an integral part of the technology and remove the fees.
So what is IOTA? Decentralized data transactions - Core feature of IOTA is the ability to transfer data through the Tangle. IOTA gives you several options to do so, making it possible to establish secure and authenticated communication channels between devices/sensors. All data which is transferred through IOTA is fully authenticated and tamper-proof - making attacks impossible Micro transactions and zero fees - For the first time ever true micro and even nano-transactions are enabled due to the unique IOTA Tangle architecture, providing developers with a brand new set of tools for their applications in both IoT and Web. This nurtures machine to machine payment and brand new business opportunities for companies that prohibitive fees has kept in the realm of the impossible until now. Everything as a service - While the whole world has adopted the Sharing Economy in areas like driving and accommodation, IOTA enables a whole new realm where anything with a chip in it can be leased in real time. Most of our belongings stay idle for the vast majority of time that we possess ownership of it, but through IOTA a lot of these things like appliances, tools, drones, bikes, etc. and resources such as computer storage, computational power, WiFi bandwidth, etc. can be turned into leasingservices effortlessly. Scalable distributed ledger - The distributed ledger revolution has only barely begun, the vast majority of use-cases has not even been thought of yet, and with the next generation ledger - Tangle which IOTA is created on, developers will be able to invent even more solutions. Masked messaging - As the first extensible module of the IOTA core, MAM enables nodes to exchange data through the Tangle, fully authenticated and encrypted. This means that your devices can transmit valuable and sensitive data with quantum-proof security through the Tangle, ready to be analyzed later. MAM makes it possible to share data with multiple parties easily, similar to a radio, multiple parties can simply tune in on your frequency and get the broadcast data.
What is Tangle? Bundles all transactions in a tangle Validates transactions only on-demand Completely self-regulating, consensus no longer decoupled Uses low overhead Proof-of-Work to prevent spam Tangle
IOTA Weather Weather forecast forecast for for IoT: IoT: Foggy, with chance of Mist Cloud, Fog and Mist
Fog Solutions
Distributed processing stations close to devices No single point of failure Greatly decreased latency Removes network congestion Enable faster analytics and optimization
Mist Solutions
Mist is next step in IoT decentralization Embed or extreme proximity of infrastructure Allows for immediate real-time analytics and optimization
CORE All those Mist clouds can communicate and transact directly through IOTA EDGE
Step 1 IOTA Economy of Things
What is Economy of Things? The synergy between finance and machines is accelerating Every device, sensor or equipment will be able to create and receive monetary transactions Enabling machines to settle payments among themselves and creating a new M2M-based economy
IOTA Enabling Sharing Economy
A brief history of the modern Sharing Economy AirBnB Every empty room is a potential rental for the night. Bikes and cars Your bike and car is idle most of the time, no reason not to make money on them UBER Everyone with a driver s license and a car can be a taxi. Everything and M2M Power tools, appliances, sports equipment etc.
Most of your things are idle most of the time. (95%+ of the time) In the near future virtually every device will have microchips in them Can be turned into a leasing device effortlessly IOTA real-time microtransactions make it possible to only pay for the exact usage of whatever you lease, no more and no less. 100% fair and without fees Turn anything you own with a chip in it into a profit-making machine and improve the environment by doing it! IOTA has no complex integration. Plug and play. Any developer can implement it.
Sharing Economy 2.0 Anything with a chip in it can be leased Devices trade resources among each other
Idle bikes millions of them
Bike rental parks like these are increasingly popular worldwide Pay upfront X amount of hours you think you ll use the bike Not optimal if you only need it for 10 minutes Requires a central payment station
Launch bike locator app Get on bike Automatically starts deducting iotas from wallet for exact usage in real time Automatically stops when you lock and abandon bike Next person who needs it can pick it up where you left it and the cycle repeats A lot more accessible and effortless
Other use cases include: Compensated storage sharing Compensated bandwidth sharing Real-time data trade from any kind of sensors and even wearables Autonomous ordering (fridge ordering groceries or machine ordering new parts) Automated insurance claims (e.g. based on the weather) Automated parking meters Automated charging stations for EV cars Self-discipline / Rewarding wearables ANYTHING you can imagine
Present Future Releasing beta in the coming days Bringing more and more projects on board Assist established companies that want to experiment with the technology and run pilot projects Full release with API (Soon) Release Proof-of-Concepts Help projects building on IOTA get funding Keep growing the ecosystem
www.iotatoken.com contact@iotatoken.com IOTA Slack Invitation - http://slack.iotatoken.com IOTA forum - http://forum.iotatoken.com