The increasing impact of the Economy of Things, 5G, globalization of smart devices, smart houses, and smart cities provides the ideal ecosystem for seamless automated payments, where a decentralized approach and blockchain technology lead the way for a safe, trustworthy connection between connected devices.
IoT devices are now part of the daily lives of many users across the world, filling the gaps of a living ecosystem that turns complex tasks into easy steps – as if the physical device was not even there! This requires a solution that provides an agnostic ecosystem to integrate devices, service providers, and partners for a low-cost, cross-network, and decentralised approach with a great emphasis on security.
IoT devices and systems are shaping the consumers’ lifestyle as we know it and they no longer belong in “silos” and in isolation. Their broad use created new opportunities and ecosystems that transit from the physical realm into the digital world. Assets and services evolve into Digital Twins or DDI – Decentralised Digital Identities – and become autonomous agents that can be traded as any other online product or service and communicate with each other.
This is where DAB – Digital Asset Broker – technology comes to life. With a wide experience in empowering IoT devices – from smart cars and cameras to sensors and others – with a digital identity through blockchain technology, the main goal is to provide seamless, automated payments for available services. The future relies on laying back, relaxing, and allowing smart devices to process payments for you!
By removing any middleman, authorities, or third parties, the E2E cycle is digitally integrated through value chains with new possibilities that truly enable the future: machine-to-machine money transfers will become the new normal.
Vehicle owners, for instance, will be able to charge their electric cars on charging stations and process payments in a seamless way. For this, we need to picture a new kind of wallet… a smart wallet that will carry all processes machine-to-machine.