In this interview, iotex_io CEO explains such a difficult thing as MachineFi. If you want to be up-to-date with the new nerdy trends, don’t miss this piece!
, a decentralized platform that connects real world devices and data to Web 3.0. In this extremely interesting interview, Dr. Raullen Chai explained to me what MachineFi is and how it works and shared the latest IoTeX achievements. If you want to be up-to-date on the new trends, don’t miss this piece!
I was an early participant in the Ethereum ICO. That was, I think, in 2014-ish. I'm an early participant in lots of early projects for Ethereum. I think I always kept my eyes on this area. Then in 2017, I think that the time is ripe. So that's when I left Uber. I had two other co-founders join me and we started IoTeX. That’s all up till now.A special moment? Well it's a bit different. We are watching Bitcoin’s or blockchain’s far future.
U.Today: It's very interesting and I think it's something new. At least I haven't heard of it before. We've all heard of DeFi and GameFi but MachineFi is something new.Well when you think about it, MachineFi is the next wave, right? Because DeFi has been pretty successful. It's easy. 'Easy' means that the life cycle for each DeFi project is relatively short. That means that the iteration is fast.
Another one on the side is something we call Burn-Drop. If one device gets activated on the IoTeX network a certain portion of IoTeX gets burned and also another portion of IoTeX gets dropped to all the long-term stakeholders. Those are the campaigns or programs which have on the side. We started a kickstarter for the hardware last year and we easily sold two thousand units of this tracker. The goal here is trying to work with one vertical in the MachineFi space. It's a ‘proof of presence’. By having this tracker, you can go to a place, you can prove you have been there and maybe you're eligible for tokens, NFTs or some sort of reward like maybe more yield farming powers in our DeFi protocol. Those are the things we want to do with this proof for geo-location.
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