www.ceotodaymagazine.com 80 “We’ve been bold enough to create W3bstream, the DePIN infrastructure that provides developers with all the tools to easily and within a few days build any DePIN dApp imaginable. We want them to be more successful by facilitating them with everything they need,” said IoTeX CEO and Co-Founder Raullen Chai. “W3bstream bridges the real world with Web3, unlocking an entirely new business opportunity for developers, entrepreneurs and device makers in the machine economy, a market (comprising DePIN and IoT or Internet of Things) that McKinsey predicts will grow to $12 trillion by 2030,” Chai said. Currently, our web searches and conversations with friends are pulled into the Internet at warp speeds; AI analyzes our consumer behavior in an instant and bombards us moments later with personalized ads. Big Tech and other corporations sell these finely tuned targeted ads for more than randomly exhibited advertisements. Security cameras constantly gather data that has great marketing value. We can monitor our security cameras from anywhere around the world, and when we access them, the application we use records where we are, how long we monitor the video feed, and more. Data from these street-facing surveillance gadgets can also provide valuable neighborhood marketing insights. Smart vehicles gather information on our driving habits and the locations we visit and data about the road, traffic, and geographic and environmental conditions, among other things. Our smart refrigerators, TVs, and other home appliances collect consumer behavior information and, in some cases, build complete user profiles on us and those around us. Weather tracking devices are great for agricultural insurance, while trackers like the Pebble are perfect for supply chains and realtime health monitoring networks. In theory, data firms know how often we go to the bar, shopping mall, church, school, supermarket, or the movies, and they sell that information for billions of dollars, of which we never see a penny. A massive $3.5 trillion opportunity To many of us, all of this is intrusive, adds Raullen, and many more of us are beginning to understand the tremendous value our data has and the need to regain its ownership. We “By 2030, when the global population grows to about 10 billion, humans will own over 125 billion smart devices and machines, powering a $12.6 trillion machine economy.”
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