Decentralised applications represent a step change in the way companies will buy user and machine data in the future. Centralised data stores are easier to attack and the value of the data is realised by only a handful people who ‘own’ the data but who did not create it - think YouTube and Facebook.
IOTA is one company leveraging distributed ledger technology to create a market for data generated by connected devices and embedded systems where the owners of the assets can sell their data on an open market. The market will be accessible to large businesses and to the man on the street. If businesses want to access data from your watch, fridge freezer, smart meter or car, then IOTA will allow you to charge companies for access.
Yesterday IOTA announced a major platform release allowing data monetization using micropayments through their distributed ledger technology. The data solution has already garnered huge partnerships from Microsoft, Fujitsu, Bosch, Deutsche Bank Telekom, and others. IOTA has already issued its tokens of the same name under their token sale earlier this fall. The company has created what it considers a better option in Blockchain technology evolution called ‘tangle.’