IoT Chain (ITC)
Before reading the fundamental report, you need to know what Internet of Things is.
Simply put, this is the concept of basically connecting any device with an on and off switch to the Internet (and/or to each other). This includes everything from cellphones, coffee makers, washing machines, headphones, lamps, wearable devices and almost anything else you can think of. This also applies to components of machines, for example a jet engine of an airplane or the drill of an oil rig. As I mentioned, if it has an on and off switch then chances are it can be a part of the IoT. The analyst firm Gartner says that by 2020 there will be over 26 billion connected devices... That's a lot of connections (some even estimate this number to be much higher, over 100 billion). The IoT is a giant network of connected "things" (which also includes people). The relationship will be between people-people, people-things, and things-things.
How Does This Impact You?
The new rule for the future is going to be, "Anything that can be connected, will be connected." But why on earth would you want so many connected devices talking to each other? There are many examples for what this might look like or what the potential value might be. Say for example you are on your way to a meeting; your car could have access to your calendar and already know the best route to take. If the traffic is heavy your car might send a text to the other party notifying them that you will be late. What if your alarm clock wakes up you at 6 a.m. and then notifies your coffee maker to start brewing coffee for you? What if your office equipment knew when it was running low on supplies and automatically re-ordered more? What if the wearable device you used in the workplace could tell you when and where you were most active and productive and shared that information with other devices that you used while working?
On a broader scale, the IoT can be applied to things like transportation networks: "smart cities" which can help us reduce waste and improve efficiency for things such as energy use; this helping us understand and improve how we work and live. Take a look at the visual below to see what something like that can look like.
Price at moment of writing
A. REAL LIFE VALUE OF PROJECT (90/100)
As we all know, Internet of things (IOT) is already changing our world. IOT will connect all our devices to each other and make our lives a lot easier. Businesses will profit from very accurate information what will give them very good market insides. Current IOT applications that are not based on blockchain technology suffer from hacks, data leaks and high cost. IOT via the blockchain will be a lot safer, cheaper and easier to implement. We think that IOT is one of the big things that will be completely blockchain based in the near future.
B. DISRUPTIVENESS OF PROJECT (70/100)
Internet of things is nothing new, but is a very disruptive technology. We see IOT via the blockchain as a further development on existing IoT solutions. The key difference of ITC, compared to competitors, is that it will be more easy to get IOT on the blockchain, without any coding experience. ITC promises that it will be so easy that you only need to buy a token and link your IOT application to the chain.
C. TEAM AND ADVISORY BOARD (55/100)
Most of the team members have a lot of experience, but not at big companies we normally like to see. The CEO of the IoT has his roots in lightning, and that is what we recognize in the vision of the company. Because of the CEO's knowledge, lightning solutions are the target group.
D. COMPETITORS (45/100)
The biggest competitor to ITC is IOTA. IOTA is a lot bigger and their team is way more experienced than the team of ITC. Besides that, IOTA already signed contracts with big players. It will be hard to competete to such a huge player. At the other side, new kids on the block can surprise and ITC will most probably focus on the huge lightning market first. With their team with bones in the lightning industry, they are steps ahead of IOTA.
E. THE STAGE OF THE PROJECT (50/100)
ITC is a whitepaper project, what means that the technology is not live yet. Therefore we can not validate the capability of the team nor the usability of the blockchain. What we like is that ITC already has signed some cooperation with (mainly) producers of chips. Simple said, the chip manufacturers will make it possible to use the chips also to run the ITC chain. Not a big deal at all, but it is a good start.
F. MOMENTUM (40/100)
At this moment ITC is pretty cheap compared to other projects. For example, IOTA's marketcap is almost 5 billion dollars what makes it 50 times bigger than ITC. If ITC surprises it can easy gain 3-5 times. If they fail, the project can go to zero.