Why IOTA becomes the global standard …
The full article was originally published by Markus on Medium. Read the full article here.
IOTA is still a very young cryptocurrency but stands out against other cryptocurrencies. There are many reasons for this, which in sum can pave the way for a global standard. What does a global standard mean? We have read it many times that in the next few years many billions of devices will communicate with each other and exchange cash flows.
The networking of devices in the Internet of Things (IoT) is growing rapidly. The market research companies expect that around the world with 8.4 billion networked devices is expected. That would be almost a third more than last year. The analysts expect that in 2020 there will be as many as 20–50 billion networked devices. Examples are quickly found:
· Automotive: In addition to the predicted 250 million networked cars on the roads in 2020, 75 percent of all new cars produced will have Internet connectivity. The number of sensors on a car will double from currently 60 to 100 to 200.
· Smart City: Whether as Smart City, Smart Lighting, Smart Disposal or similar, in the field of infrastructure is basically about the integration of sensor data with information from the networked infrastructure and other, often external, data sources, such as weather or traffic data.
· Energy: Many of the large power plants will probably have more or less only a backup function in the future. Countless small wind and photovoltaic systems will provide the required power more and more, but they need to work together optimally and share their data with each other. This will make the energy transition the largest IT project of all time and will only be successful in combination with digitization. Therefore payment flows must be able to be pushed back and forth quickly and reliably in such a system, with a huge data transfer. In the future, millions of producers and consumers will need to communicate in real time, sharing not only information but also digital values.