IIC launches next-generation Web3 boating ecosystem test drive

• The Industry IoT Consortium explained that its Marine Management Test Drive uses blockchain to show boaters and marina owners how they can turn underutilized resources into revenue.
• Ahoy and IoTeX lead this MachineFi-focused pilot

The Internet-of-Things (IoT) sector is growing in popularity and pervasiveness. Today, the number of IoT-connected devices worldwide is in the billions and across every sector of society. In 2019, McKinsey estimated that by 2023, people would own about 43 billion internet-connected devices. Ericsson reported there would be 29 billion by the end of 2022.

If we look around us, many IoT devices are already around us. These include intelligent meters (home gadgets that take electricity and gas readings in millions of homes), smart scales, TVs, refrigerators, vehicles, stoves, light bulbs, and many other electronic apparatuses.

“For decades, centralized corporations have had control over users’ data, leaving them vulnerable to hacks and mining their data with no benefit or value returned to users,” said Draper Dragon in a recent blog post.

However, web3 has the potential to effect change and significantly disrupt the IoT sector because of its decentralized nature. It also has the potential to give back to users control over their data and devices giving them access to the trillion-dollar economy the IoT and data sectors represent.

A $40 billion opportunity

The boating industry is no exception. The leisure boating industry today represents a $40 billion opportunity, according to a Grand View Research report.

The Industry IoT Consortium (IIC) revealed a Marine Management Test Drive to build a next-generation, Web3 peer-to-peer network designed for the marine industry. The IIC explained that Test Drives are short-term, rapid-engagement pilots for technology end users to employ and adopt Industrial IoT technologies. They stimulate IoT adoption across the industry through accelerated implementation.

The IIC said two of its members are leading the test drive. Ahoy, LLC, a global infrastructure company, and IoTeX, which offers blockchain-based solutions to help humans and machines interact with guaranteed trust, free will, and privacy.

Ahoy leverages IoTeX’s MachineFi technology

The Marine Management Test Drive leverages the IoTeX blockchain and its Pebble tracker to showcase the next generation of boating ecosystems, including boat-to-dock payment, maintenance scheduling, and asset management. 

Ahoy is building a solution to decentralize the utilization, management, ownership, renting, docking, financing, and user experience of marine-based assets. The Pebble helps keep track of sailing or boating activities, collect and analyze weather data and for AhoyDAO rewards.

“We’re helping to drive the management of marine assets into the IoT ownership economy – where users are the owner and beneficiary of their data, privacy, and money,” said IoTeX CEO and Founder Raullen Chai. “Boat owners can now monetize their marine and associated digital assets globally.”

“With the Marine Management Test Drive, we’re showing boaters and marina owners how, thanks to MachineFi Lab technology, they can turn underutilized resources, stagnant occupancies, and user data into reliable sources of revenue,” said John Paul Zable, CEO and Founder, Ahoy.

The solution is based on IoTeX’s MachineFi platform. It includes a Web3 infrastructure, an NFT marketplace, a utility token, dApps, and digital twin and IoT implementation.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice