The world is about experiencing the fourth industrial revolution. A revolution that refers to the current and developing environment in which disruptive technologies and trends such as the Internet of Things (IoT), robotics, virtual reality (VR) and artificial intelligence (AI) are going to change the way we live and work. Being about machine-to-machine economy of things and AI, millions of machines can seamlessly communicating or exchanging data, without human interfacing or interaction. This includes serial connection, powerline connection (PLC), or wireless communications in the industrial Internet of Things (IoT).
According to Forbes, M2M is among the fastest-growing types of connected device technologies in the market right now, largely because M2M technologies can connect millions of devices within a single network. The range of connected devices includes anything from vending machines to medical equipment to vehicles to buildings. Virtually anything that houses sensor or control technology can be connected to some sort of wireless network. Interestingly, this is better facilitated with machine learning referred to as Artificial Intelligence.
It is believed that disruptive ability of the distributed ledger technology (Blockchain) will have a huge role to play in IOT. Because in the world of machines, we need a decentralized trust which is one of the very core values of Blockchain technology. We have seen as the first blockchain (Bitcoin Blockchain) has disrupted finance and how it helps to approve transactions without any central authority. But the blockchain that will be needed to aid machine interaction must be a step beyond this, an innovation we’ve seen in the Ethereum Blockchain.
The Ethereum Blockchain is the next significant blockchain after the Bitcoin Blockchain and it supports the creation of smart contracts and programming language. It also enables these to be conveyed into the creation of projects and products. Example of this is what we have seen in the ability of individuals to create their own cryptocurrency tokens and attach projects to it. An individual can say here is the token I’ve sent to a wallet and you can say this is the total amount of tokens left.
However, as important as this seems, there is still a key point missing and that is something that has to do with machine to machine interaction and the Internet of things without humans. To allow billions of machines to interact, we need something more sophisticated, we a model that deals with negotiation and conversation and invest power totally into machines with zero human interference and this is what Railz is all about.
Railz is a language for machine conversation and it uses rapid advances in artificial intelligence and machine learning to deliver transformational level of organization, interaction and conversation between machines so as to deliver a better connected Internet of Things economy between IoT devices and networks.
Leveraging on the technological convenience of the Ethereum Blockchain in creating smart contracts, the Railz protocol is set to achieve the vision of being specified by IoT device manufacturers to carry out Machine Negotiated Consensus without human intervention and eventually be deployed across billions of their devices.
more on Railz in the context of the world of IOT and Blockchain: https://vimeo.com/272321868
To join the Railz ICO whitelist: http://www.railz.org/whitelist
