It is now possible to do payments, micro-payments and nano-payments between machines.
We are talking about devices in the future. It’s difficult to predict what the landscape will look like for these devices in the future. So many great products from both large and small companies are flooding the market with the promise of making our lives easier and more efficient.
Internet of Things (IoT) will also drive innovation in the payment space while forcing traditional methods to become more agile and adaptive. IoT and M2M can deliver a reliable and safe payment environment and consistently deliver best user experience, transacting on our behalf.
IoT and M2M will deliver this and consistently deliver the user experience we customize, transacting on our behalf. IoT refers to how devices speak to each other between disparate systems. While M2M is similar in function, it refers to isolated systems that don’t communicate with each other. But insert AI, and these devices will not only speak to each other, as well as other systems, but they can make transaction with other machine.
Hdac IoT Contract could enable smart devices to become independent agents. Some examples could be automobiles negotiating higher-speed highway passage, air delivery drones, washing machines finding the best deal for a piece it need to be repaired, sharing automatically your Wi-Fi or even sensors getting paid for their metrics to take better local decisions in real time or a vending machine that can not only monitor and report its own stock, but can solicit bids from distributors and pay for the delivery of new items automatically.
IoT Contracts can be used to set the rules on how the devices relate (collaborate) with each other. This way no intermediary is needed when any internet connected device wants to buy information or hire services from any other device. Also this intelligent agents may be able to negotiate prices (and discover new providers) to function autonomously.
Hdac private blockchain will act as an universal database to identify devices and its owners. A place to store the description, functions, locations, prices, etc. The platform can track the unique history of individual devices, by recording a ledger of data exchanges between it and other devices, web services, and human users.
By creating IoT Contract and blockchain based M2M payments, HDAC aims to create a new M2M economy, without any human intervention.
Learn more about Hdac Technology:
Website: https://hdac.io/
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