By 2025, more than 75 billion smart devices generating 80 trillion gigabytes of data will form the global Internet of Things (IoT), which McKinsey estimates will be valued at a staggering $11 trillion. Even everyday objects (e.g., beds, mirrors, toilets) are now equipped with WiFi and powerful sensors that make them “smart”. From consumers installing security systems to protect their homes, to enterprises using sensors to streamline supply chains, to governments developing smart cities, the Internet of Things will impact everyone and everything in the coming years.
But beneath this shiny facade are massive gaps in security, privacy, and interoperability that restrict the potential of IoT, especially for everyday people and businesses. For decades, centralized corporations have abused our trust by spying on our personal lives, leaving us vulnerable to hacks, and mining our data with no benefit/value returned to users. If this continues, the IoT and the $11 trillion in value it represents will forever be owned and controlled by omnipotent institutions. IoTeX is here to ensure this doesn't happen.
IoTeX is building the first decentralized ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. We envision a future where self-sovereign users will exclusively own and control their devices, as well as the data and value they generate. We believe everyday people and businesses, not self-serving institutions, should be the ultimate benefactors of the future machine economy. We call our vision the Internet of Trusted Things.
Using blockchain and secure hardware, IoTeX not only addresses the IoT's shortcomings in security, privacy, and interoperability, but also empowers users to capture value from the data/devices they own. With IoTeX, global citizens can finally break free from the shackles of centralized business models and find solace in our decentralized, user-owned ecosystem. We invite you to join IoTeX on our mission to establish a new paradigm for the Internet of Trusted Things -- let's build the future together.