IOTX will set out to provide an Ethereum-based blockchain solution specifically tailored toward solving problems in the internet of things sector. They aim to build a secure marketplace where IoT device data can be monetized on a decentralized network without being censored or held hostage by any centralized authority or malicious party. The main goal of this platform is to create a place where real-time information from devices on the Internet of Things can be exchanged safely and securely with the consensus of people involved in that data creation.
IOTX also wants to provide rich payment methods for IoT devices, streamline the process of matching buyers and sellers, and let users develop their own decentralized applications (dApps) on top of their platform.
The IOTX team is led by Dr. Ryu Ji-hyeon, who has 12 years of technical experience in blockchain technology development, enterprise architecture integration, enterprise resource planning (ERP), information security management systems (ISMS), network marketing/eCommerce marketing solutions for B2C companies, as well as ML Media Solutions. His work directly involves developing dApps on top of Ethereum smart contracts using Solidity - a programming language for smart contracts on Ethereum's blockchain.
Dr. Ji-hyeon is supported by an experienced team of advisors and executives with backgrounds in energy, blockchain technology, smart contracts, IoT devices and marketing. Beyond his extensive resume and technical knowledge on the subject, Dr. Ji-hyeon's experience as a consultant specializing in information and system integration for large organizations also helps back up their credibility as a legitimate business enterprise.
The IOTX project has been ongoing for about one year now under what they call "acceleration mode". They've since progressed to another stage called pre-production mode (technical development completed) and are gearing up for what they call "Delivery Mode" (Delivery initial platform) sometime this year (2018). This will be where they release the IOTX platform to the public.
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