www.ceotodaymagazine.com 83 www.iotex.io creation of an open ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. Unlike traditional smart devices where centralized corporations custody, mine, and profit from our data, devices “Powered by IoTeX” enable users to own and control their data. Blockchain technology provides a secure, transparent, and decentralized infrastructure for managing IoT devices and data. And by integrating Artificial Intelligence into IoT, blockchain can facilitate intelligent decisionmaking, enhance automation, and improve overall efficiency. The convergence of blockchain, IoT and AI will facilitate a more connected and responsive digital environment that will enable seamless interactions among IoT objects, devices, digital goods, and the metaverse. In summary, bringing AI to DePIN and IoT, unlocks the full potential the machine economy has, according to McKinsey. “We envision a future where self-sovereign users can own and control their smart devices, as well as the data and value they generate,” Raullen says. “We believe everyday people and businesses, not profitsomething amazing. And it was then I got into Bitcoin, so really early. In 2012, Bitcoin was still in its very early stages, and practically nobody knew of its existence.” Raullen recalls there was no such thing as a crypto industry then, much less Web3. like now. He was already eager to get involved, but continued with Google because of how early it was for blockchain and crypto. “I stayed there for five years and then went to Uber for another year. But during these years, I closely watched crypto and blockchain. I was an early Ethereum adopter, and crypto was growing as an industry. I was an early participant in the Ethereum Initial Coin Offering (ICO) back in 2014 when they raised $18 million.” Chai felt that in 2017, the time to get involved in crypto and blockchain was ripe. “Two other co-founders, Jing Sun and Dr. Qevan Guo, and I met for months planning how we could use blockchain to solve realworld problems for the benefit of all of us,” Chai said. Exciting to see how the Internet’s future unfolds IoTeX’s unique and cutting-edge DePIN technology enables the hungry institutions, should be the ultimate benefactors of the future machine economy or DePIN as we refer to it in the Web3 space.” Using blockchain and secure hardware, IoTeX addresses the current IoT’s shortfalls in security, privacy, and interoperability and empowers users to capture data and value from their devices and utilize and monetize it in decentralized applications (dApps) on the IoTeX platform, the IoTeX CEO added. Picture a world where our data is truly ours, and we can benefit from it in different ways. A real and better world where our smart devices and real-world data are connected to blockchains, enabling Web3 integration into our everyday lives and in which machines seamlessly work together to create value for society. That’s the enhanced real world Raullen’s team is building today; as IoTeX continues to grow and develop, it will be exciting to see how Raullen and his team’s vision for the future of the Internet unfolds.
RkJQdWJsaXNoZXIy Mjk3Mzkz