Why The MXC Foundation is The Future of IoT Data Collection Services
MXC by MXC.org
The world strives for a better tomorrow. An improvement of the various technologies that are available and innovating new technologies are at the forefront of ensuring a bright future. Efficiency and effectiveness are the major themes in innovations continuing to originate. The world wants to achieve more output with minimal input as possible. This has led to changes that help make various processes more efficient especially where the drawbacks involved human limitation.
Among the latest innovations is the Internet of Things (IoT) which can broadly be defined as any device that can collect and submit data to a network. MXC has studied the expected demands for handling decentralized global data and has developed a platform that aims to make this as efficient and as simple as possible.
The list of devices that can be considered as part of the internet of things is growing exponentially- televisions, fridges, speakers, literally anything that can collect data and upload it to a network, can have IoT designation.
✳️This increase in devices is also a result of more industries adapting to the convenience that result from the use of such devices. For example, supply chain systems- specifically in the warehouse division- greatly benefits from the sorting and order that IoT devices afford them. Furthermore, the increase in the use of A.I technology in various economic sectors has prompted the need for more data collecting devices, which are almost exclusively IoT devices. Data collection precedes data processing which precedes the appropriate response based on the data provided.
Current connectivity infrastructure such as 4G/5G and Wi-Fi will not be able to cope with future demands. However, there is still time to actualize innovations that can handle the rise in the expected future use of IoT technology and the needed data integration procedures. This area is where MXC will thrive as a platform.
Meaningful Partnerships
Different companies produce IoT devices. Partnerships are inevitable as data integration will involve all these companies, including other service providers such as LPWAN companies who provide the infrastructure required to integrate the colossal amount of data projected to be generated in the future.
MXC is basing its operations on blockchain technology, which is another revolutionary technology innovated out of the need for a better tomorrow. Therefore, its list of partners also includes prominent figures within the blockchain sphere.
Partnerships by MXC.org
✳️Blockchain is a crucial part of MXC as it is the leading technology in decentralization which is vital component ensuring safe, efficient and accurate data integration.
✳️Some of the partners include Huobi, one of the leading digital asset exchanges in the world; they are likely to support MXC in hosting their digital asset in their exchange. Most recently MXC was voted by Huobi community members as the next project to get listed on the exchange, free of charge. Other partners include Fenbushi Capital, Token research group and Block Asset.
LPWAN — The Technology of Choice
Wi-Fi, 4G/5G, and Bluetooth are common data transmission technologies that have been the backbone of mobile and internet communications for the latter part of the 21st century. However, with the growing data transmission demands, their limitations are becoming more evident. The internet of things requires powerful networks that are ever ready to transmit data with as little restrictions as possible. Considering the number of IoT devices continuing to grow, networks with longer ranges and acceptable speeds are required. Wi-Fi is limited by its range which is also the case with 4G networks.
✳️MXC proposes the use of LPWAN (Low Power Wide Area Network) technology that accommodates the projected number of IoT devices while still delivering highly efficient speeds capable of sustaining data uploads, integration and processing. Machine eXchange Protocol (MX Protocol) is the spine that will support the entire MXC network.
Built For The Sharing Economy
The MXC is created to empower communities economically. By connecting their various devices to the MXC network, communities and individuals have a chance of profiting from their data.
✳️The MXC network is built in such a way that data is exchanged through use of the native token system in place in the MXC network. The MXC token is the currency of choice in the MXC network. Through it, data-hungry organizations such as Ethereum can access as much data as they would like. MXC respects privacy. Thus only data that users have allowed to be shared will be made available to interested parties.
✳️Nearly all cutting-edge innovations will depend on the data obtained from IoT devices and other data collecting devices- for example, A.I technology in any industry. It has the potential to revolutionize all many sectors- from complex systems such as robotics to simple everyday aspects like measuring the dimensions of everyday objects as seen in the latest iOS update. This requires varying degrees of data from simple to highly complex data depending on the outcome expected.
The Sharing Economy by Paybase
The varying complexities of data fall under data analytics, and it attracts immense amounts of money — often in the region of billions of U.S dollars. This figure is projected to rise with the expected increase in demand for various forms of data.
With MXC, the emphasis is placed upon machine-generated data as machines can provide a continuous stream of data without fail. Human-generated data is essential and may also be used to support machine-generated information.
✳️Ninety-nine percent of the population have smartphones which can be used to connect to the MXC network and provide supportive data. Sharing of data remains the primary goal. Monetary advantages are pegged to the quality and quantity of data that the MXC platform will make available through linked IoT devices and supportive data from users. More on the requirements and the need of data can be read through here.
Appropriate for Futuristic Cities
✳️Climate change, waste management, and traffic jams are among the key issues that are almost always on the development agenda of developed and developing cities. What these topics have in common, apart from a uniform solution, is their need for constant and consistent accurate data flow. There are innovative applications and software that can be used to manage all these issues; however, they need the right data for them to extrapolate the appropriate methods for solving these problems.
The internet of things can make this data flow possible through the MXC especially within a radius of approximately 20km. Multiple data relay centers can be placed in cities depending on their sizes, and the appropriate data can be provided as requested or required by A.I and machine learning software.
➡️Traffic jams are easily solved as data concerning the movement of cars into, around and out of the cities are relayed by various IoT hardware such as sensors placed strategically in these cities. Apart from easing the flow of traffic, there is also the possibility of creating priority lanes for emergency service vehicles or dignitaries within a short period. Since the vast majority cars are embedded with technology, users connected to the MXC network can receive updates on in-bound emergency service vehicles such that drivers are aware appropriately and can create a lane for easy passage of these emergency vehicles.
➡️Emission density around various locations in these cities is also calculated with the right sensors in place. Necessary adjustments can then be made based on the recommendation from A.I or software running the emissions programs of these cities. This could help avert or reduce further effects of climate change by reducing the emission of greenhouse gases in cities.
➡️Waste management can also be revolutionized by having hardware and software that can help people sort out the waste they dispose of by informing individuals of the useful parameters of these waste products. Efficiency on waste collection is also improved using IoT devices. They can give real-time feedback on when the next efficient collection time will be, saving some resources in the process.
IoT Waste Management by Jumpadevice
Since blockchain technology is in use, security and transparency of data use are assured. Hence cities can even have decentralized applications that link city dwellers to the MXC network where they can provide real-time data and obtain real-time information on various events around the town. What is even more exciting about this is the fact that as data sharing happens, currency flows through the economy thus making MXC a potential economic driver.
✳️The MXC network is not limited to these uses; some applications are going to arise as blockchain, LPWAN, and researchers and the public will better understand other related technologies.
Information Priority
The data likely to be shared through this network is going to be tremendous in the event of global acceptance of this technology. This means that data of every manner and form will be flowing in the network. There are certain factors that MXC has employed to create some order and to give certain packets of data priority over others. These include monetization factors to encourage more people to upload their data as there is an incentive attached to it. The network is also designed such that some forms of essential data receive upload priority over others say, in the case of an emergency, data from that particular area is given priority over data from other areas which could help minimize casualties or damage.
✳️The MXC network has the potential to change the world. The internet of things can be revolutionary, but it is the MXC network that provides meaning to the data being recorded and uploaded by these devices.
✳️Through the use of the MXC token/coin, data can be monetized within the platform among other forms of revenue-generating activities that will be appreciated by users. The purpose of blockchain technology will help provide a secure and transparent platform, enabling the MXC network every possible opportunity to thrive and truly impact the global community.
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