IOTA and topocare have realized machine-to-machine payments protocol with the help of IOTA tangle, thereby reaching the much awaited machine-to-machine economy.
After seeing the need to think flood protection in an innovative and new dimension, topocare was founded. The firm started off with a strong basis in machinery and virtual product development.
Afterward, the firm decided to deploy information technology into its innovation to be able to make its machines align with the Internet of Things, resulting in the firm becoming a machine and software developer with specialization in flood protection.
With topocare machines, it is easy to lay huge sand or earth-filled geotextile tubes to build flood barriers to achieve temporary or permanent flood protection.
Machines Fashioned To Build Flood Barriers
topocare developed two distinct and worldwide patented machines to offer earth-filled geotextile tube directly on site in a continuous process.
After beginning with the idea of selling machine, topocare delved into renting out the machines for constructions. This is where the Pay-on-Production model, an idea among the targets for the IOTA PoC, is going to work.
IOTA: Pay-per-Use Pay-on-Production / Business models
With the growing developments in payment and business models for machines that are basically meant for production can be a great landmark to achieving a machine economy.
Regarding the Pay-on-Production (PoP) or Pay-per-Use model, the idea is being deployed in the manufacturing and medical equipment.
What happens is that the machine producer fixes the machine at the client’s site and then charges per use. This model fulfils the primary necessities for a machine economy i.e. where machines pay machines. This brought topocare towards finding a reliable payment model that makes it easy for machine to charge for every piece of production.
Pay-on-Production realized with IOTA (MIOTA)
The present PoP ideas are achieved with the machine counting the number of pieces produced. Then, at the end of the month the customer is charged. This idea of PoP, according to topocare is best achieved using IOTA (MIOTA), and payments (token transfer) are made through the blockchain technology as well.