IoT: IOTA’s target business in a nutshell

During its emergence to the widespread public over the last six months of 2017, many people had no idea what IOTA’s innovation actually was. And even months later, it is still common to find people confused about what the IoT actually entails.

Here, we’ll learn about area in which IOTA wants to disrupt. The Internet of Things (IoT).

IoT – what is it?

Essentially, IoT means that every “thing” is connected to the internet, thus allowing it to send data for various purposes. It doesn’t matter whether it is a sensor in your car, a GPS tracker in your keys, or the solar collector on your roof. Everything will have the technical ability to stream its data to the internet.

IoT – how is it useful?

The keyword here is data. Harm van den Brink, member of the IOTA Foundation, puts it like this:

Think of a car’s wiper blade. It’s probably the dumbest part of any car, it can only go from left to right. However, attach an IoT-sensor to it which just collects the movement data: Once the rain starts, the data is sent to a company, agency or similar. One wiper blade is not very useful, but if you have millions of cars sending this data, you get a very detailed real-time overview of where it is raining at the moment; a very interesting use case for any weather-related business.

And that’s just one of about 300 sensors which you can find in a modern car. To be clear, it doesn’t matter if it is a car, a fridge, or a cell phone. Data is generated everywhere, and IoT is the means to make it available to interested parties. At the moment, essentially all this data is lost, but a whole new economy is on the verge of being established here.