Moore’s Law and the Future of IoT
A future we can all take advantage of
Many of you will be familiar with Moore’s law, the theory that the processing power of computers doubles every two years or so. Anyone who owned a PC in the 90’s and has a smartphone today will be able to see the technological advances we’ve made in only a matter of years.
But can this trend continue — and what does it mean for the future of tech and, in particular, the Internet of Things?
It’s worth starting with the origin of the theory. Gordon E. Moore — who went on to found computing giant Intel — observed in 1965 that the number of transistors in computer chips was increasing at an exponential rate. So far, his general trend has continued. There has been some slowing since 2013 (because it’s getting harder to fit more and more transistors onto boards) — but the rise of quantum computing will likely signal an uptick once again.
Many people don’t understand just how revolutionary his law has been. It revolutionized the information age — and it could revolutionize the next stage of human development too: the machine economy.
That’s why Moore’s law is especially exciting for anyone involved in IoT. The theory predicts that as processors get more powerful, smaller and cheaper, the devices that use them will get more powerful, smaller and cheaper too. This means not only more IoT devices but cheaper and more pervasive ones, as new and innovative ways to use the tech develops. Think anything from smaller wearables to more powerful industrial devices — and everything in between.
“If the law stays constant, we should see a massive emerging market open up.”
If the law holds true, the MyBit platform is perfectly placed to take advantage of this growth. Firstly, because people will be able to invest in IoT devices for less, the initial cost of funding a device will drop while the revenues will remain. As the initial cost decreases, a barrier to entry is removed and more people can get involved in the IoT market. If the law stays constant, we should see a massive emerging market open up.
In turn, this will create a huge secondary market for MYDAX. MYDAX is the world’s first decentralized IoT asset exchange. Here, assets funded on the MyBit platform (and those already deployed and generating revenue) can be tokenized and traded. It too would massively benefit from an exponential growth in IoT devices.
And, lastly, we could actually see a future where people can earn their regular income from IoT assets. At MyBit, we believe people shouldn’t fear the automation of industries; instead, they should see it as an opportunity. And we think everyone should be able to follow their passions instead of having to work to simply survive. This is a vision we all share — and if Moore’s law is anything to go by, it may not be that far off after all.
Until next time!
The MyBit Team.