The changes and innovations that ioeX will drive for the future living
The global trends are constantly changing and we have witnessed the rise and fall of the developments of big data, AI, IoT and so forth within merely five years; and the topic that has become the center of attention among investors in these two years is blockchain. [本篇中文版連結]
As usual, it has been an ongoing argument over believers and commenter in this year’s bear market, the obvious core issue is: “Would blockchain become a common technology in the future?”
The Internet and IoT have become the indispensable part of our daily lives, what would be the next?
Before the Internet is commonly used, we’ve been through the same argument as well. Fast-forward a couple of decades, it is without a doubt that the Internet has become an essential part in our lives.
What exactly is the key element that makes the Internet a common technology?
I think the major factor is related to the economy, that is, if the technology fits the development of human economic activities and solves (or partly solves) the problems of the current economy.
There is a watershed moment for technology of the Internet to conventional industries and business modes; we all witnessed how the Internet influenced all kinds of industries during the transformation process, whether in clothing, living, transportation, education, and recreation, the Internet has been in our lives in all kinds of aspects, we will search online for or “google” the information that we want to get.
The Internet, considered from an economic activities’ perspective, is basically to optimize the allocation of resources of the existent economic resources.
Consumers may find the products and services they want instantly on the Internet and choose them from different providers, not to mention the rating function of the Internet has become a great protection for all the consumers; to conclude, it ensures equal and transparent information between providers and consumers.
And the Internet does not benefit consumers only, as a matter of fact, the Internet makes the features of products and services significantly standout, and it offers a clear strategy for positioning the brand and targeting a specific market, improving the surplus value of the manufacturers and the ability to satisfy the market’ needs for the industry.
The costs of economic activities are therefore reduced due to the two complementary effects, and it also personalizes both parties.
Since the Internet allows economic resources to be utilized so efficiently, and it also integrates all kinds of economic events, it is not that surprising that the Internet has become so “common.”
Carry on! The inseparable technology trends!
However, it’s not like everything went smoothly with the development of the Internet. The main technical problems are the network coverage and the popularity of the Internet devices, one greatly relies on the establishment of infrastructures and the other one generates an urgent need on the Internet of Things.
The Internet has improved the efficiency of allocating resources, yet the productivity remains unsatisfied; for instance, the Internet has reduced the transaction costs, but it requires users to connect to the Internet via their PCs, if they can’t trade at any time and any place, or even, if it fails to operate automatically, then the potential of this innovative productivity is not fully released.
The IoT has positively boosted the coverage this productivity is expected to have, hence mobile devices such as cell phone and notebook become the indispensable part of our daily lives, and the related devices and services such as smart appliances, smart grid, and remote services have made the productivity of the Internet expand to the nowadays scale.
Even so, there are numerous data researches saying that the potential of the Internet is not fully developed, the coverage in the remote area remains low and the popularity of network devices should grow exponentially.
And there’s another major issue, that is, the old relation of production is holding new economic activities back.
Wherever people are involved, there will be a trust issue. This “trust” issue has always been the reason why the progress of transactions and relation of production are stagnant.
Although there have been some preliminary data on the AI research of robot that deals with related matters, they are still far from “unmanned” operations. On the other hand, whether the result of information processed by AI is trustworthy might be another concern.
The blockchain is an example of how the Internet developed in the encrypted network which is exactly for addressing the productivity issue, it adopts distributed storage approach on the ownership of productive information. The decentralized system is adopted to manage the status and exchange relationship in various groups in the society, and there’s incorruptible ledger for recording the allocation of the products.
In view of the above, it can be seen as the rise and fall of any technology trend, is an entire process of discovering problems and attempting to solve them which is followed by frequent integration and complementation.
Internet of Everything + Blockchain = ioeX
The equation of “IoE + Blockchain = ioeX” is not merely a practical description of the ioeX technology, it is more so the future aspect of ioeX.
As mentioned above, IoT and blockchain remain their early stages of development. The term “Internet of Thing, IoT” was firstly proposed by the British technology pioneer Kevin Ashton in MIT in 1999, it was wildly predicted to be able to connect 28 billion of “Things” in 2020.
Nonetheless, this prediction is obviously not wild enough since we’ve already distributed 20 billion of things around the world at the end of 2017, and it is growing exponentially so the predicted number is adjusted to 50 billion.
The massive amount of distribution urgently needs a solution to address the following two cost problems:
1. Cost of devices: Massive data is generated by the “thing” on the connected sensor, therefore, making “sensing” one of the properties of IoT. The cost of sensors needs to be reduced.
2. Cost of networking: It is inevitable for device owners to pay for the costs of bandwidth and connection, and the growth of IoT means there is the huge need for network transmissions, and the increasing number of the Internet devices refers to the needs to interconnect them to receive or transmit data. The number of devices is growing exponentially; it forces the users or device providers to bear the costs.
We can address these two problems with an optimistic point of view, by promoting the coverage of low-cost wireless network and upgrading the protocol standards.
For these two major problems, ioeX focuses on addressing the second one by combining IoE and blockchain to greatly reduce the cost of network transmission. We’re also dedicated to collaborations with the device providers and to drive changes and innovations to the future world.
The benefit of low costs brought by the decentralized network is in practice!
The CEO of ioeX Aryan once asked himself this: “Could this high transmission cost be sustainable? Since the centralized network is so costly, there might be a chance to develop the decentralized network.”
Our customers who we’ve been collaborated with for long offer a chance to test partial storage and computing power of servers, which gives a good start for developing “bootstrap nodes.”
With the participation of top IoT device providers around the world who introduce “Carrier SDK” into their smart products, which forms the widely distributed “peer nodes.”
The above powerful forces are contributed by numerous efforts and chances.
Joining the ecosphere of ioeX network which continues to develop will save 70% of system upgrade costs for device manufacturers.
Look Beyond: The Next-Generation Internet of Everything “ioeX”
The “X” in ioeX refers to “the next generation,” which is the generation of the Internet of Everything.
Imagine the numerous smart devices forming a world-wide distributed network through P2P direct link; the storage and transmission centers will no longer be needed for data transmission between these smart devices; instead, it conducts connection and relay transmission through the static IP addresses of your neighbors as the bootstrap nodes, and adopts floating IP as peer nodes to store documents. A low-cost “localized” data transmission with high efficiency is then able to be in practice.
Since we’re about to issue tokens and finish the establishment of the ioeX network, the “personalized” and “decentralized” process which is in corresponding to the distributed storage of blockchain will create more possibilities for ioeX in the future.
Not only it reduces the transmission costs, it even contributes to closer interactions within the network, allowing devices to interact person-to-person as if they were friends (F2F, friend-to-friend).
Since we live in a digitalized modern world, it’s not hard to imagine devices to form a new relationship which each other.
Moreover, we can personalize business system in the new type of ecosystem, a bootstrap node can be simplified and exists in online shopping sites, online streaming platforms, information exchange forums and so forth in the encrypted network other than just in the business system.
This would be an innovative token economy system through the ioeX token mechanism, large enterprises will no longer be so distant from small entities, it can even bring fame to the ordinary person and bring more creativities and possibilities to the world.
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