Just imagine a world where Internet of Things (IoT) will be unthinkable from our lives, the prediction is that by the year 2020, the world will consist of 30 billion interconnected objects with a total market cap of $8 trillion dollars, with the purpose to make your life much easier and more pleasant!

Airbnb

During the interview with the CEO of ITC, Xie Zhuopeng gave the example of AirBnB, with IoT all ordinary physical objects are interconnected in the network, this will change our way of renting an apartment. Once you come in front of the house the door will be opened automatically, the network will recognize you because your device is connected to the internet, you can enter the apartment without making use of a keybox or calling the landlord. If you enter the apartment, the temperature will be settled automatically, because your preferences are set in your device and this is being transmitted to the system, the bathtub will be filled at a specific time, you don’t have to wait before it’s filled with hot water! Literally, all objects will be interconnected through the network.

But what about our privacy and security?!

This is where IoT Chain (ITC) will make the difference! IoT devices are vulnerable to attacks by Botnets, according to MIT Technology Review more than 2 million IoT devices and their cameras were infected by Botnets in 2017. ITC will solve this problem by making use of asymmetrical encryption, if the private key is kept properly, the data cannot be cracked even if it’s collected. ITC is building a very user-friendly operating system, with the protection of our data and privacy!

Technical architecture

The blockchain technology is very suitable for many industries, but there are some key problems when applying this technology in IoT. In IoT industry there is a need for a faster transaction time, form of consensus and protection of data privacy. The team of IoT will make this happen by making use of their own solutions, for the devs between us, they will make use of Practical Byzantine Fault Tolerance (PBFT), Simple Payment Verification (SPV), Cyber Physical System (CPS), and the ITC team will implement Directed Asyclic Graph (DAG) architecture, the next generation’s blockchain! Compared to the traditional blockchain technology, the confirmation speed of a transaction with bitcoin is 10 minutes, and with ethereum 10 seconds, with ITC the transaction will be completed in a millisecond!

Partnerships

The purpose and technology of ITC are great, but they have also strong cooperation and alliance with well-established organizations.

Strategic alliance with Acute Angle Cloud

Strategic cooperation partnership with Adzar Energy

ITC Received Millions of Investment from Link VC

ITC and GVE reached a strategic cooperation to jointly promote the development of blockchain

Western markets

At the moment ITC gained a lot of interest from China and surroundings, the team of ITC will start marketing activities to promote this massive project in the West. ITC didn’t raise money through an Initial Coin Offering (ICO), they had private placement only to accredited institutions and investors! In comparison to similar projects, ITC is the only project with the use of decentralized main chain technology based on PBFT consensus in combination of DAG subnet. The most excited progress is that ITC team is already working to get this ERC20 token listed on Western exchanges!