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Cryptowhatcher

IOT devices, IOV, and XRP

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http://www.theregister.co.uk/2017/06/21/fsecure_mikko_hypponen_sense_interview/

"If it uses electricity, it will become a computer. If it uses electricity, it will be online. In future, you will only buy IoT appliances, whether you like it or not, whether you know it or not.

"Home appliance manufacturers will be adding connectivity to every device, no matter how mundane, because the price of adding it will be marginal. Those devices will not be going online to benefit the consumer, they will be going online to benefit the vendor. They want analytics. In 10 or 15 years, they will add this 2-cent chip on every toaster. Now they know where their customers are, on which side of the city, how often do they toast, at what time of day, with what kind of bread, how often there are failures. We can't avoid the IoT revolution by refusing to play part."

I was hoping to get a conversation going of the possible relationship between IOT devices and XRP in the future.

Combining IOT devices that deal with payments with the IOV and XRP seems like a near unlimited use case for Ripple and XRP. 

It is possible every IOT device that deals with payments will need a ledger to track the payments. Combining other features like escrow might actually enable "businesses" comprised of IOT devices that could be nearly automatic.

Anyone else see value in this use case? Are IOT devices compatible with the ILP?

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1 hour ago, Cryptowhatcher said:

http://www.theregister.co.uk/2017/06/21/fsecure_mikko_hypponen_sense_interview/

"If it uses electricity, it will become a computer. If it uses electricity, it will be online. In future, you will only buy IoT appliances, whether you like it or not, whether you know it or not.

"Home appliance manufacturers will be adding connectivity to every device, no matter how mundane, because the price of adding it will be marginal. Those devices will not be going online to benefit the consumer, they will be going online to benefit the vendor. They want analytics. In 10 or 15 years, they will add this 2-cent chip on every toaster. Now they know where their customers are, on which side of the city, how often do they toast, at what time of day, with what kind of bread, how often there are failures. We can't avoid the IoT revolution by refusing to play part."

I was hoping to get a conversation going of the possible relationship between IOT devices and XRP in the future.

Combining IOT devices that deal with payments with the IOV and XRP seems like a near unlimited use case for Ripple and XRP. 

It is possible every IOT device that deals with payments will need a ledger to track the payments. Combining other features like escrow might actually enable "businesses" comprised of IOT devices that could be nearly automatic.

Anyone else see value in this use case? Are IOT devices compatible with the ILP?

IOTA

https://iota.org/

 

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As I see the world, and I might be wrong, IOT and IOV do have nothing in common per se, but a similar abbreviation base. For me these are different things. In case everything that uses electricity will be online and will may be part of some financial stream mechanism, so be it. XRP can then just do what it does and act as backbone for the value transfer. Somebody has to drive it into this direction then. It can work out when a lot of things come together at once. I do not see that XRP was made for the IOT revolution. It is just that XRP is good at something that might become relevant for IOT at some point and in some way, or maybe not. My two cents. 

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