Three significant projects have been selected by IOTA (MIOTA) during a hackathon done in partnership with Hackster and eCl@ss.
The Hackathon was launched in December 12, 2019 and the submission of projects ended on May 17. The brains behind the project, the IOTA Foundation, Hackster, and eCl@ss announced the winner on May 30, 2020.
Participants were made to leverage the Industry Marketplace to invent a value-driven open-source idea for a distinct business idea.
The Industry Marketplace is a decentralized and autonomous site that makes use of the IOTA Tangle, the standardized machine-readable contracts with an integrated decentralized identity system for easy bidding, tendering, and payment for services. It offers services that are not restricted to the manufacturing industries, but it has wide usage in the energy and mobility industry, and smart cities.
The first position was given to Industry 4.0 Car Parking Marketplace designed using IOTA, iBeacon, and ML. the idea is a PoC for Industry 4.0 car parking marketplace that enables machines to converse, negotiates, and make use of service without the involvement of humans.
The innovation, made by one Mithun Das, was awarded an $800 worth DJI Mavic Air, a foldable drone with high tech features.
The Second, a work in progress Autonomous Drone Delivery and Charging System, was designed by one Huhn Rck.
The system can give electricity to autonomous machines and drones, and designed using Raspberry Pi and IOTA Tangle. The second place received a Cetus3D minimalist printer worth $500.
The third place was a project centered on powering up event logistics using the Industry Marketplace. The project was designed to enliven event management by automating logistic pain-points. The idea is also a work in progress by Marcos Concon, however, he received an Oculus Quest worth $400.
The IOTA Tangle is being adopted by big businesses seriously wanting to jump into the IoT world. Many a number of globally renowned mobility firms have links with IoT Tangle. Jaguar is rewarding users with IOTA token when their vehicles report portholes.
IOTA co-founder David Sønstebø: ‘95% of my wealth is in token’
David Sønstebø, the co-founder of the IOTA Foundation, in a recent statement declared that 95% of his wealth is in the token.
Sønstebø declared this in an interview with Ronin, a prominent member of the IOTA community via Reddit.
Ronin approached Sønstebø in a bid to seek clarification on a statement made by Sønstebø that “IOTA will be used in millions of devices by next year” in an earlier interview.
Investors are of the speculations that the poor performance could be due to the focus of the IOTA Foundation in developing the internet of things protocols.
Nevertheless, the IOTA(MIOTA) which is a form of a value transaction will play tangible roles in developing tangle technology.
Sønstebø when asked by Ronin, how likely it was for IOTA to become adopted by millions of devices by next year. Sønstebø replied, showing his confidence that it will happen.
According to him there are quite a large number of companies waiting to use coordicide. He stressed that he’s not prophesying the exact date or time that this will happen but confident that it will come to pass.
The IOTA co-founder said he has 95% of his wealth in the IOTA token and 95% sure that the token would get wide adoption at some point.
Sønstebø explained that the new IOTA website is 20% away from completion and would be released soon. Tn his words, the new IOTA website became imperative due to the former website built by an external team which has made upgrading a difficult thing to accomplish.