What is IOTA and what can it do?
Iota is more than just a cryptocurrency.
So you driving home and because of already existing tech like geo location tracking, your gate knows you are nearby and opens as you arrive, your garage too. Next thing the kitchen knows, lights come on, kettle gets boiled. Everything is connected on what you might call a neural network –
That is “internet of things”. (IOT)
You walk in the house and see that while you were at work, groceries were delivered and packed away by a robot. It ordered the groceries because the fridge told it too because it knew it was running short of supplies.
This is now commerce on Internet of Things. This is where the cryptocurrency IOTA fills a very important role by being the currency of the Internet Of Things.
To allow for devices to pay each other for their function.
While you making your coffee from your already boiled kettle, your car runs self diagnostics and finds that it needs a new battery. Your car then checks your diary for any plans you have and works around it. It then books itself into a center for a battery change without disrupting your schedule. It even pays for the new parts using IOTA. These ideas and concepts are all very possible within the next decade. And IOTA
IOT and IOTA can save you money
Because all your devices talk to each other, your home can optimize itself for power according to how it studies your movements and actions.
For example, ensuring all non essential appliances are powered down at night or when you are away.
Your house will always know where you are via your phone or smart watch so it will even power down further to conserve more energy when it detects you are far away.
IOTA could even save your life.
Senses and Scanners around your home combined with a Smart watch could continuously monitor you and your body. It could detect a change in body temperature and know if something was wrong.
If your home knew before you that you were about to have a heart attack, it could send you warnings to your phone and smart watch before taking further action like alerting 911. It could even call a family member and much more.
Your home could even send it’s findings to a medical practitioner. They would not even need to examine you in person to prescribe something for an ailment that you don’t even know you have yet.
Your toilet could even monitor your stool and urine. Your house could become your doctor thanks to IOT and IOTA.
IOTA is a currency that devices use to pay each other
Devices can pay each other for the purpose they serve using IOTA. For example – your electric car can go find a charging station by itself and recharge, paying for the charge using IOTA.
What about Delivery drones that are going to be all over our skies in the next few years? When they start running out of battery, they can find charging stations, land on them and charge themselves. IOTA can be used as the payment method.
The cryptocurrency IOTA has massive potential for the future, it does not use a blockchain as there are no blocks. IOTA uses a technology called tangle and negates the need for transaction fees.