Iotex
$100M fund aims to support the growth of decentralized machine economy
IoTeX, a blockchain platform focused on the Internet of Things (IoT), has announced the launch of a $100 million sustainable ecosystem fund. The new fund will back over 1,000 decentralized machine economy startups developing use cases for connecting more than 10 million smart devices to the MachineFi portal within the next three years. The decentralized machine economy is a developing economy in which machines, rather than people, are the driving force behind economic growth. This new economy is powered by blockchain technology and artificial intelligence (AI), and it has the potential to create a more efficient, secure and sustainable way of doing business. MachineFi refers to a new paradigm based on Web3 that underpins the new machine economy. Machine resources and intelligence can be mo...
IEEE Blockchain Identity of Things standardization working group kicks off
Six worldwide corporations have banded together to start the IEEE blockchain Identity of Things standardization. According to IEEE Chair of the Identity of Things Working Group Dr. Xinxin Fan, researchers from Lockheed Martin, Ericsson, Lenovo, Huawei, Bosch, IoTeX and China Academy of Information and Communications Technology are developing the global standards for blockchain-based decentralized identities in an effort that commenced two years ago. Related: Decentralized identity can bring the analog world into the digital one After two years of research, the six major global businesses have provided the proof of concept for blockchain-based decentralized identification (DID) for IoT devices, which Dr. Fan started in 2019 with the World Wide Web Consortium (W3C). IEEE is a non-profit...
