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What is MachineFi ?

IoTeX is thrilled to announce for the highly anticipated launch by MachineFi, an innovative combination for machine or DeFi to monetize machine-driven data, events and tasks that unlocks the trillion-dollar opportunity in the Metaverse and Web3.

MachineFi’s main objective is to transition traditional Internet of Things (IoT) and machine verticals for the MachineFi decentralized applications (Dapps) that will enable millions of users for participate in the machine economy with billions of smart devices. The world has witnessed to the boom of smart devices and automated machines such as smart home devices and smart cars. Nevertheless, some have noticed inter-machine communication is significantly increasing.

In recently, the numerous machines have already started collaborating producing and distributing and they consume information and resources collectively forming for the heterogeneous network of machines, explains IoTeX CEO and Founder Dr. Raullen Chai. Machine networks are communicating with other machine networks accomplishing for more advanced tasks, Dr. Chai said. This is essentially for the new form of economy, a machine economy and machine finance, which is MachineFi. MachineFi is here to reshape for the future of machine economy that is upon us.

According to McKinsey report, the IoT (Internet of Things) could unlock for the global economic value approximate 12.6 trillion by 2030. Techjury estimates that up to 125 billion devices will be connected to the Internet by the start of the next decade, powering by machine economy. Dr. Chai said that the convergence of artificial intelligence (AI), blockchain, edge computing, cloud computing, 5G, the Internet of things (IoT), computer vision and augmented/virtual reality pushes human society through the next digital revolution wave. Although these technologies have evolved independently, they have become increasingly intertwined around for new form of productivity said MachineFi.

What MachineFi Means for Business

MachineFi: actually call it the smooth turn toward better winds should be considered by the large business in the world, no matter the industry. Last darlings of the tech world, think wearables such as Google Glass and Apple Watch and AR/VR like the Oculus Rift and PlayStation VR, have nearly exclusively been dominated by large megacorporations that are trying to ensure that their dominance continues for the next era of technology.

MachineFi is more different; nevertheless, it has been preserved in its exciting growth phase. The companies making waves now are not incentivized to stick with the status quo in the world; they are incentivized to break it. Entrepreneurs, angel investors and developers alike can reap outsized benefits. Many people are getting to contribute to things that make peoples’ lives meaningfully better through technology. Take the Industry IoT (Internet of Things) Consortium’s VAT. It isn’t for every day that you get to work in the fast-moving and profitable industry and also create something that makes sure a donor’s heart reaches the transplant recipient safely. That is the rare thing to find, so it isn’t surprising how fast job growth is in this sector.

When we look back a few decades to the founding for the internet, there were dreamers who were imagining future in the world. Nevertheless, those who remember today as pioneers are the ones who took the internet from one major adoption milestone for the next. That’s the potential that all of us have with decentralized technology, financial opportunities and connected devices and algorithms. And that’s the promise for MachineFi.

MachineFi is here to help.

MachineFi is the interaction of smart devices and finance. It is more similar to DeFi which is abbreviated for the decentralized finance. Smart devices are all around. It would have seemed absurd to imagine that your refrigerator could communicate with your home security cameras 10 years ago. This level for connectedness is often troubling for some people, as the notion that robots are going to take over the world has become so common in our society. It does not mean you have to disconnect from your smart-phones. It’s possible to increase trust and security between the people and their smart devices.

Smartphones help MachineFi

The smart-phones did not take control of the most important area in life: money. Any smart device that can make people more money will succeed. MachineFi is intelligent devices that can help for the people make more money. MachineFi refers to the ecosystem of intelligent devices that are beginning to gain significant market share in finance. These decentralized ecosystems are gaining market share because of of their technological capabilities. MachineFi offers a revolutionary alternative for the centralized finance. Blockchain technology has been around for more than a decade and is now more widely used. MachineFi bridges the gap in recently decentralized world and the world where machines are integral to economic life. MachineFi’s foundations include financial technology and blockchain decentralization. They will be greater than the sum of their individual parts. They give economic sovereignty to individuals as well as devices.

Smart Devices

There are some smart devices that can connect for the Internet. Have you ever traveled through an electronic toll booth? Now, the challenge is to live with these smart devices without compromising privacy and giving up on the economic benefits.