Automated Machine Payment with IOTA
The full article was originally published by AKITA on Medium. Read the full article here.
Building tangible applications for humans and machines
For the mass adoption of Distributed Ledger Technologies (commonly known as “Blockchain”) it is crucial make the technology tangible and usable for real world use cases. AKITA x IOTA have set their goals to achieve exactly this. Based on previous PoC/ prototypes that AKITA has successfully delivered from the idea to physical exhibitions (e.g. Hannover Messe 2018, iampass, Dubai Blockchain Summit 2019), we are now creating a prototype showcase that is virtual and physical demonstrator, which people all over the world can experience live.
Vision: Enable direct M2M payment
For the first version of our virtual implementation you can visit our dedicated project website and click through 2 Use Cases that demonstrate human-to-machine (H2M) and machine-to-machine (M2M) automated payment and service delivery.
Live Demo Process
The first scenarios that we have published simple and straight forward. You have a digital wallet and the option to buy either a new laptop a or some new headphones:
- Click on your preferred product to start the production and payment process. All following steps are completely automated!
- The price for the product will be send from your wallet to the respective machine wallet of robot making your product
- Once the transaction is confirmed the robot requires energy to make your product. With the new balance on its machine wallet it can directly buy energy from an energy producer (wind or solar in our case)
- The energy provider delivers back energy to the robot
- The robot produces your laptop or headphones and it gets delivered directly to you
- There is a pop-up link to both Invoices of step 2 and 3 based on the immutable distributed ledger on the Tangle