Decentralizing transactions have opened up opportunities for gadget manufacturers to capitalize on the hot trend called blockchain. Hong Kong-based blockchain start up Moeco is no exception. As one of the companies hand-picked to pitch its blockchain ICO at the recently concluded Singapore Hype Up event, organized by CryptoFriends, it was an opportunity to showcase its “blockchain meets IoT” platform for the real world.
As Dubai has started positioning itself in the global marketplace as “the metropolis of the long term,” Moeco has secured a tech partnership with UAE-based Yzerchat. Yzerchat then launched a recent version of its app that contains the Moeco library and other Bluetooth LE-enabled units, TechCrunch reports. TechCrunch described it as similar to an “IoT records superhighway with phones, strung alongside with a Bluetooth mesh community.”
Moeco’s video presentation has a more congruent way of explaining its services, complete with a reminder of how Bluetooth and WiFi work, as well as the limitations that come once you start wandering a little farther from the WiFi router or Bluetooth device. This is a problem that Moeco addresses through its product, the LPWAN gateway. This is the open source solution for individuals who needed a better solution to signal disruption and interrupted services due to choppy internet.
Moeca noted how even delivery services benefit from its devices. This is due to the IoT network infrastructure formed. When you have a smartphone connected with the Moeco network, it alerts you of the last-mile or other delivery that occurred in the area where Moeco’s network infrastructure is built.
Moeco clarified that apart from the LPWANG, users don’t have anything else to install to make this technology work for them. The limitations that come with IoT are then addressed by Moeco through the “blockchain-powered IoT platform which unites existing IoT networks and motivates individuals to participate in worldwide deployment.”
Normally, a person that owns a router can only use the device for profit in an internet cafe where PC renters pay at the cashier for accessing the internet. Using Moeco’s LPWANG is similar wherein, according to the video presentation, “Users benefit from seamless global roaming, affordable plans and a huge selection of compatible devices. Anyone can become a Moeco gateway and IoT provider by installing a gateway to serve all IoT devices in your area.”
The benefit is in the form of tokens used as currency in Moeco where the LPWANG router owner provides the IoT service and everyone that gets to use it is billed. And the LPWANG router owners are paid in tokens stored in the Moeco bounty pool. With constant use of the currency in the Moeco blockchain-powered transactions, tokens exchanged in this platform increase their exchange value.
Smartphone owners with the Moeco app also end up providing “service to the surrounding Bluetooth sensors and devices with Moeco software.” In other words, any transaction in need of the blockchain conducted on your mobile device earns you tokens. You become the shipper’s most reliable go-to-guy to send, receive and confirm exchange of goods and money in the blockchain.
The decentralized aspect of blockchain kicks in knowing that no agreements are needed to be signed with operators or ISP. As Moeco’s LPWANG is based on open source technology, it becomes easier for gateway owners and blockchain users alike to capitalize on this IoT trend and help them earn in the cryptocurrency space as well. It could be the quickest way to developing even more smart cities enveloped in blockchain-based IoT technology for everyone to cash in.
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