MachineFi, a groundbreaking combination of machine and DeFi to commercialize machine-driven data, professions, and events with a trillion-dollar potential in the Metaverse and Web3, has been anticipated by IoTeX. MachineFi primary goal is to decentralize common machine and IoT sectors, allowing millions of people to engage in the machine economy through billions of smart gadgets.
The globe has seen a surge in the number of smart gadgets and automated machinery, such as smart home devices and smart autos. Few, however, have witnessed a considerable increase in inter-machine communication.”Today, several machines have already begun collaborating, generating, and distributing, and they jointly consume information and resources, constituting a heterogeneous network of machines,” explains Dr. Raullen Chai, CEO and Founder of IoTeX.
“Machine networks connect with other machine networks to do even more sophisticated tasks,” stated Dr. Chai. “MachineFi is essentially a new sort of economy, sometimes known as a machine economy or machine finance. MachineFi has arrived to revolutionize the machine economy’s oncoming future.”According to McKinsey, the Internet of Things (IoT) might generate up to $12.6 trillion in worldwide economic value by 2030. Around 125 BL gadgets will be connected to the Internet by the beginning of the coming decade, as per the Techjury
The combination of artificial intelligence, cloud computing, blockchain, edge computing, the IoT, augmented/virtual reality, computer vision, and 5G, according to Dr. Chai, accelerates human civilization into the next wave of the digital revolution.While these technologies evolved separately, they have become more linked around a new type of productivity — MachineFi,” he noted.