Somshubhro Choudhary, Co-chair loT Forum and Partner, Bharat Innovation Fund, said things started happening from 2012-13 onwards in the loT space. loT is the collection of multiple technologies from the sensor to the cloud. IoT is in the same journey, as IT was in the 1990s. IoT is more of a mishmash of multiple technologies and multiple use cases. Each one of the market verticals and specific industries were implementing lot at their own pace. But post-Covid-19, we are seeing a much faster adoption of loT deployments and use cases.
We are routinely looking at improving the efficiency and productivity standard. There is also the quality improvement. In the post-Covid-19 era, we are seeing more from a business continuity space. We now have to automate. Standardization is looking at loT platforms, layers, etc. From a network standpoint, there are SCADA networks, ZigBee, LoRaWAN, etc. Enterprise private networks, such as enterprise 5G are also coming in, comparable with NB-IoT. Large enterprises might move toward NB-IoT/5G networks. Not a single technology fits all the use cases.
Larry Pang, Head of Business Development, loTex, said loT is a diverse industry. By 2030, loT is going to generate anywhere between $5-12 trillion in economic value. The value is going to come from everywhere - from our homes to businesses to factories, to the sky to the sea. There will be many different implementations of loT. The challenge will be: Which is the best tech stack for you?
The lo TeX token connects the physical and digital world. Our rapidly evolving ecosystem aims to put billions of devices on the blockchain. loTeX is the lifeblood of this ambitious, interconnected, and profitable future.
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