IoTeX launches MachineFi, a combination of machine and DeFi that unlocks trillion-dollar opportunities in the Metaverse - Seite 3

People who own smart devices will be enabled to participate in various machine-driven financial activities to earn cryptocurrencies, including renting their smart devices from other peers to collect data, monitor events, and/or complete tasks for a predefined period.

"MachineFi realizes the vision that devices are owned by the people and are for the people. By participating in the machine economy, people can fully monetize their devices and associated digital assets on a global scale," concluded Dr. Chai.

The MachineFi Roadmap

Q4 2021: IoTeX launches the MachineFi portal, a universal registration hub for devices like Pebble Tracker and Ucam.

Q1 2022: IoTeX will release a groundbreaking "real-world data oracle" that will for the first time ever provide blockchain Dapps with real-time data from IoTeX-registered machines rather than price feeds and historical data from APIs. The IoTeX proprietary oracle will have the capability of making telemetry data from machines available to smart contracts, enabling a new design space for developers to build new applications that incorporate everyday activities. For example, one's real-time GPS location can be used to claim NFTs.

Q2 2022: IoTeX releases the first Decentralized Identify (DID) framework for all machines registered to the IoTeX blockchain. This DID will become the standard across all IoT platforms and networks, and allow machines to exclusively own the data and value they generate. It will be with this DID that devices will be able to communicate with each other, with humans and therefore businesses. By combining innovations in blockchain, identity, oracles and hardware, IoTeX will make real-world data available to blockchain dApps for the first time. 

Q3/Q4 2022: The MachineFi Hub is launched. Although hundreds of Dapps will already be available on the IoTeX blockchain for public use, the Hub will be where all the Dapps will be available and seamlessly connected to a user's fleet of devices. It will also be where developers can leverage templates and modular tools to create their own solutions and dApps without cumbersome coding and enabling their users to monetize their data in a self-sovereign way.

Q3/Q4 2022: IoTeX launches its cross-chain data bridge, by which all machine data will be able to be used across all EVM-compatible blockchains and therefore have optimal utility for users and developers alike. For example, the ability to combine supply chain tracking data on IoTeX with supply chain documents on Ethereum or other blockchains will expand the utility of machine data originated on IoTeX.

Be sure to watch the MachineFi video with the team, their vision and real-life examples of how Pebble works in the IoTeX blockchain-powered internet of trusted things (IoTT).

For more information or interviews with core team members, contact Olivier Acuna, PR/Comms Director at [e-mail].