The Bitfury Group announced its investment in a new start-up for the connectivity of the Internet of Things (IoT) called Moeco. Bitfury, as one of the largest Blockchain companies in the world, sees the Moeco model as an excellent application for its technology services.
The Moeco platform is designed to enable IoT users to connect to a global network of integrated IoT cells. even to create their own cells to become internal service providers. Exonum of Bitfury, a new protocol from the blockchain technology giant, will allow the Moeco platform to move, manage and store data.
The proliferation of IoT devices has created a situation where widespread connectivity becomes critical. The intention of the Moeco platform is to "uberise" connectivity on the IoT. Dmitry Gorilovsky, the CEO of the company, explains what this entails:
"The idea is to crowdsource IoT connectivity. This results in a natural motivation for each participant – the owners of IoT devices get lower maintenance costs and lower upfront investments; Gateway owners receive a reward for transferring data from IoT devices. So, it's like Uber – we need to to ensure that IoT data is delivered safely to the right destinations (taxis) and gateways are paid for (pilots). "
As the rate of data production increases rapidly and need for connectivity increases, allowing IoT users and smart device owners to monetize their connectivity, which will create a new way for devices and owners s of associating P2P (peer-to-peer).
"It also needs to be done in a decentralized manner using the advantages of Blockchain technology.Moeco also works on Bluetooth.So any smartphone can be used as a mobile gateway – it collects data Hybrid Hybrid Sensors Nearby Smartphone owners or smartphone app owners can get revenue for data transmission from the sensor to the cloud, "said Gorilovsky.