Machines , Quantum Computers and IOTA, were made for each other.
illustration by @arthuradamson
The idea behind IOTA was to enable machines to be able to pay other machines.
For machines to be able to pay for their own bills, if you like.
WhaT! Machines paying other machines, what the hell are you talking about?
Yes I know it sounds rather like SkyneT from the film; Terminator, but in fact something like that is pretty much what we are looking at here. Only not in a doomsday type scenario, but more like a liberating one.
Let 's take the car industry for example. A car is a type of machine, right?
Today a driverless car works by using GPS as part of its sophisticated navigating system as well as advanced laser technology to determine its road position.
At the moment electric cars need to be re-charged by humans by plugging them in, either at home, or at a gas station. However, future electric cars will be self-charging - using their own wheels as generators that will re-charge two separate batteries that will automatically switch from one to another.
For the electric car owner this will eliminate all electric-charging bills completely.
However, as with all "machines", at some point the driverless car will need to have a service due to wear and tear.
This bill, an owner will still have to pay for.
However, considering 90% of all car accidents are attributed to human error, it looks inevitable that driverless cars are going to take over from humans.
It is estimated that by 2020 the driverless car industry will be worth a staggering $1200 billion dollars.
Considering the car industry is struggling and has had several "bail outs" by their respective governments, it seems that driverless cars is the logical way forward for car manufacturers.
In an inevitable future of driverless cars, that are self-recharging, then I suppose the biggest need for all these billions of cars will be some kind of "Autonomous Vehicle Integrated Servicing Stations".
These "stations" would change worn out tyres, fix electrical faults and issue certificates of road-worthiness.
OK, so let´s say that you are sitting in your driverless car and a red light comes on indicating that their is a fault.
What would you do? Perhaps you would "tell" the car to go to one of these "service stations".
However, in actual fact, it would be programmed to automatically drive itself to the nearest service station. If it was so broken that it could not drive itself there, it would automatically contact the service station to come and fetch it.
Once it was fixed you would be presented with a bill.
But what if the car itself could pay for this bill itself?
In one scenario, in a world where the economy is run by Bitcoin, (and other crytpo currencies), the vehicle would have its own "bitcoin wallet" in which "you" would keep topped up with Bitcoin. If the funds in the wallet became low, the vehicle would send "you" a text message telling of this .
However, a more likely future scenario of autonomous vehicles, the vehicle (car) would most likely be their own self running business. A driverless Taxi for example.
You get in and ask the taxi to take you to the airport. The taxi would then ask you to deposit 0.01 Bitcoin into its wallet. When autonomous taxi needs servicing it would have the "finds" from its earnings to pay for it.
At the service center there would some kind of robot that does this servicing and that robot would then present its bill to the car. The robot itself of course will have its own bitcoin wallet too.
However, there is one problem with this scenario.
Current block-chain technology is not capable of allowing a to pay another machine.
As Dominik Schiener, the co-founder of IOTA, recently stated; "Blockchains are inherently limited." Sept 2017
IOTA has now solved this problem by using an entirely new way of recording and transferring digital forms of value (crytpto-tokens). By using new technology called; "tangle". rather than blockchain, IOTA does not have such limitations or scaleability problems.
Therefore it is logical to assume that IOTA will be used as the standard form of crypto-currency for Autonomous Vehicles to "pay their bills". Perhaps this could explain why virtually every car manufacturer is taking notice of IOTA.
Try to imagine that in 2025 (only 8 years from now) a driverless car industry,
worth $1200 billion dollars, are all using IOTA.
And this is only a fraction of what IOTA will be used for. What about all the other kinds of machines" in the world?
This is why I believe it is inevitable that IOTA will come to dominate the crypto-currency space and why the value of IOTA will grow at a simiilar to that of Bitcoin. More likely even faster.
Does that mean Bitcoin will die?
Not necessarily
Taking into account the latest development of "atomic swaps" were you can "swap" one crypto-coin for another almost instantaneously.
Let´s foresee another scenario in the near future;
You get into autonomous taxi and ask "it" to take you the airport. The taxi asks you to pay X amount of IOTA. You ask if you can pay with Bitcoin. The Autonomous Taxi "ATs" accepts Bitcoin and atomic-swaps Bitcoin for IOTA. Most likely the autonomous taxi would charge a fee for doing this considering Bitcoin charges for transactions and IOTA has NO TRANSACTION FEES at all. (In fact IOTA is the only crypto-coin that has not transaction fees)
However, Bitcoin (and ALL other crypto.currencies) will have to overcome one major problem if they are to to survive in the long term future.
QUANTUM COMPUTERS
In theory a quantum computer could break an encrypted code in seconds
making all current crypto-currencies useless. Again, IOTA has solved this problem.
The IOTA "unit" was designed to work on future quantum computers using its revolutionary "tangle" technology instead of Block-chain technology.
Due to the strange rules of quantum mechanics, quantum computers will use whats know as "quantum entanglement" as the base of its coding. (I am not going to go into "quantum entanglement" here as that is another subject)
All you need to know is that eventually, an advanced quantum computer will be thousands of times more faster than conventional computers.
Whether or not the geniuses people behind IOTA named their "tangle" technology
after "quantum en- tangle -ment", I do not know.
How far off in the future are Quantum Computers?
IBM have been researching quantum computing for the last 35 years.
Last year they made a 5 "qubit" quantum computer which has been made available on the internet for people to try out. However, at 5 cubits it is still not as advanced as the best conventional computers today.
The race is on.
Virtually every computer company in the world are working on quantum computers such as Apple, Microsoft, Google and IBM themselves. You can be sure Russia and China are also in this race. And thus it is predicted that at some time in the 2020´s there will be a 50 "qubit" quantum computer on the market.
Apparently a 50 qubit computer will be far more powerful than any conventional computer in the world.
At that point only IOTA could be used on both conventional computers as well as on quantum computers.
Picture above; Quantum computer
To finish…
consider this…
The birth of bitcoin was in 2008: NINE YEARS AGO.
Bitcoin had to overcome skeptics and ridicule to be accepted. Today its value is over $4000.
Crypto-currency has established itself and blockchain technology is respected,
This is the world IOTA has been "born" into.
IN 8 YEARS FROM NOW, in 2025, the autonomous car industry is estimated to be worth $1200 billion dollars.
And all of the car companies will highly likely to be using IOTA as the base of its economy. I mean why would´t it?
IN 8 YEARS FROM NOW, quantum computers will very likely be on the market. Only IOTA will be able to be used on them as a crypto-currency.
In my humble opinion it is inevitable that IOTA is going to become an integral part of the new "self-existing" autonomous machine world. A world that is literally only a coin toss throw away onto the future.
Bitcoin and blockchain was an idea, a genius idea, that has given our current civilisation an alternative way of storing information as a form of value.
This idea woke up early adopters and from there it grew into a movement and this movement is gradually waking the rest of the world.
IOTA is not just another crytpo-currency. It is far more.
It is the natural evolution of Bitcoin and blockchain technology.
Rather Like early human-beings evolving into modern man. Early man developed tools, explored their environment and began to organise themselves into settlements. Early man did not change the world, but began to integrate themselves into it. When modern man arrived on the scene there was nothing short of a revolution in civilisation.
Bitcoin has not changed the world. At least not yet. But it certainly is helping to re-shape it.
Quantum computing, together with autonomous Ai machines, will change the world in a way civilisation has never seen before. In this brave new world it will need a brave new economy. Bitcoin paved the way, IOTA will forge the path. For quantum computers, autonomous Ai machines, seemed to have evolved together.
IOTA is an evolution that will be part of the future intelligent machine revolution
Now isn't that a "Deep Thought"
What I write is merely my own thoughts from my own life experience.
I do not like to say follow me or upvote me because I prefer you decide such things for yourself.
If however, you decide to follow me and tell me in a comment, then I always follow you back.
Thank you for taking the time to read my blog and a warm welcome back in advance.
Mind blowing Blog Post Mr @arthuradamson my friend. This post clearly opened my BRAIN and Eyes as well. You gave us a very detailed and informative research piece of work, which is APPRECIABLE. And I request everyone to give you A SALUTE on this HARD WORK. There are RARE people in this world who spend there time for the HUMANITY, and I'm happy you're one of them. To be very honest, before September I was not aware of cryptocurrency at all. At steemit I got a chance to understand what is this. So recently, you introduced 'IOTA', I was a bit confuse to invest in IOTA (Although right now I have not heavy amount in my hand) but after reading your today's Post my all queries has been cleared at once. Thanks a lot for researching, Then writing and finally conveying the word towards people. I really really appreciate your efforts. God bless you, stay safe, keep smiling and stay blessed!
Thank you my good friend. I am passionate about Crypto-currency because it I know one day it will take the power of money away from the banks and back into the hands of the people. If crypto succeeds then it will end poverty. This is my dream for the world. There is no reason why there should be poor in this life. There is plenty for everyone. Why should the top 1% have everything just so that they can have luxury while millions struggle just to survive . It is not right and it is not necessary. Crypto will change this. It is only a matter of time.
It is good you got into it now while it is still jus the beginning.
Always appreciate your support my good fellow :)
@arthuradamson no doubt you have a very sensitive heart towards humanity. Thats why I like you. Keep it up man. I am always with you. Stay safe!
Thank you for this post, it was a great read! I love IOTA as much as you do and it definetely deserves more coverage. Looking forward to seeing more posts like this from you.
Thanks man.
I am a member of the official IOTA "writers and programmers" group. They loved one of my articles and contacted me inviting me to join and write for them whenever I want. I dont get paid but it means I can get some inside information now and again. Shsss hush hush : )
Wow, that is super cool :)
This is an excellent post. Well written. Upvoted, followed and resteemed.
IT took a while to out it together but I am passionate about IOTA and I want to spread the word. Glad you enjoyed.
I very much appreciate the upvote and the resteem. It helps give me motivation to do more such posts so a big thanx @banglasteve
Love the energy and style of writing.
; )
If they did, they are a bit far off there. Quantum Entanglement and IOTA are in two completely different universe.
It will be interesting though, to see how things turn out in the future.
:)
Yeah I understood that the two did not quite got together as I know that the two concepts are entirely different, vastly different of course, as you say.
I used to work in advertising and I know how marketing people think so I became curious. I wondered if the fact that IOTA had been "designed" with future quantum computers in mind, perhaps they had a look at some quantum computer terminology.
I guess I am pretty passionate about IOTA. I read about a while ago long before the launch and have been captured by its spell ever since.
Thanks for the feed back @cryptonfused :)
Probably would be a good idea to start diverting some of the profits we've all made lately into something forward thinking like this and wait. Outstanding opportunity for a staggering return for low investment.
Absolutely my friend. Think of it as being part of your retirement fund. By the time you are using a walking stick you will be worth a fortune.
Wow! I don't usually read articles on cryptocurrency as they're too technical for me, but your article was so easy to read and I just loved your comparisons. I've not really been into the idea of driverless cars, but you have showed me some great benefits of this and this idea is so cool!
" "Autonomous Vehicle Integrated Servicing Stations".
These "stations" would change worn out tyres, fix electrical faults and issue certificates of road-worthiness. "
Yes, much needed! I have to say I'm not good with car maintenance and need warning lights to remind me to check the basics.
Now I know your article was about IOTA and not driverless cars, so thanks for introducing this coin to us. I've heard it but not really done any research into it and it sounds like you really know what you're talking about and done all the research for us!
There is bound to be huge leaps in technology moving on from bitcoin, and this does sound very tech and worth checking out for a small investment at the least and not repeat the missing out of $1 for 1 bitcoin!
Thanks for you post, I look forward to reading more of your articles, I enjoy your style of writing and I liked your IOTA image too! :)
Hey what a wonderful reply @michellecarter : )
Yeah I am kind of well known in my circle of friends for being able to simplify complicated technical language. I think the world needs this. I mean not everyone is technically minded are they?
Actually, the genius folk behind IOTA also contacted me to tell my they loved one of my articles for the very reason you mentioned. They invited me to be part of their team of IOTA writers. I dont get paid or anything, but it is a kind of an honour I guess. It also means I can get inside information now and again..hush hush : )
I remember when I first read about Bitcoin in 2013. I was visiting friends for Christmas and I stumbled upon an article on Bitcoin. My technical mind understood it immediately and I began jumping around the room like a frog telling my friends that Bitcoin would change the world. Well I very rarely get so excited like that and so my friends almost called the psychiatrists to take me away in a straight jacket. I tried to explain why I was so excited but they jut did not get it.I realised that I had to break it down into simply terms so they could understand why I was so captured by this new form of money.
Bitcoin was valued at $12 dollars then. Anyways I explained it in simple terms but they still did not believe in it so they did not buy any Bitcoin. They are furious with themselves today.
Well just to say that when I found out about IOTA the same thing happened. I was in a bar with my friends this time. I began jumping around like a frog telling them that IOTA was going to be the Bitcoin of the future.
"Arthur´s gone crazy again" One of them said.
Well I have invested in IOTA but my friends so far have not. I hope they dont regret that too.
Autonomous cars will play a big part in the rise of IOTA because one will not be able to function without the other.
Very nice of you to say you like my style of writing : ) Gives me a warm feeling to hear such things especially when I love doing it.
I am more know for beng an artist I guess but like everyone, we have many sides to us. One side of me likes now technology and especially crypto currency. I basically write about what I love and simply wish to share with others what I love I guess. Simeple as that. That is why my blog is a mixture of art and cryptocurrency. Well wny not?
I will be doing more articles on IOTA breaking it down into simple terms so watch this space. : )
You're welcome Arthur!
I think I like your style of writing because you are writing from your heart and just sharing your passion, and you add in humour too, which I love! I do feel that people take in more when it is put across in a light hearted way.
You are definitely a great writer in my opinion! I will have to check out your art then if you that's your thing!
I'm in the 'don't like technology' group but have amazed myself this year my finding out about cryptocurrency, mining bitcoin, buying cryptocurrency, having 2 wallets and a hard wallet and then joining Steemit, so more cryptocurrency and another wallet!
I've did some checking of how to buy IOTA and didn't get to far, so where are you buying it from? It's not on the usual sites and in Exodus wallet, perhaps you drop a few hints to IOTA to get accepted by Exodus as it's so easy to transfer currency that way!
Do keep sharing the 'techie stuff' in easy to understand language, we need it!
Great to chat & I'll be watching out for more! :)
Thanx Michelle : ) . - wow I am impressed with you getting involved with crypto considering you are not a tech person. That is brilliant. It is actually what the Bitcoin community and the altcoin community really hope would happen, so you are a great success story for the crypto world. You will not be sorry either. It is often said that those who got involved now will be quite rich in ten years time.
At the moment you can only buy IOTA on Bitfinex trading platform. Bitfinex is known for having new altcoins while other more bigger platforms, such as Poloniex wait to see if the can last at least a year before they put them on.
I can certainly speak to IOTA and press them to make IOTA more easily available. In the mean time they are still very cheap and I think they will not rise for a while yet before they eventually explode.
I have put you in my follow list now so if there is any hot news I can let you know, but as I say I will be putting out regular info on IOTA.
Take Michelle, great chatting : ) - so many nice people here on Steemit seems too good to be true sometimes. : )
Well thank you Arthur! I'm pretty impressed too! I just kept feeling that banks weren't safe and I needed an alternative and got led to an article on blockchain and on from there.
Now what would be impressive is meaning understanding Bitfinex trading platform and actually buying some IOTA, because that site needs some serious instructions on how to use it!! So maybe a new post for you to do . . I feel confused just looking at it all!
& then there's the wallet issue too, my current wallets don't take it . . . oh getting quite a task this is!
Well thanks for putting me on your follow list, much appreciated & I look forward to reading more of your posts, hopefully about how to buy IOTA!
Great chatting to you also & yes there are some really lovely people here on Steemit, so great, I know what you mean! :)
This is the best intro & explanation of iota and tangle technology I have seem! beautifully written ! Great job!
Hey thanks @cryptosnip - I can say that it is somewhat easier to write about something when you believe in it and have a passion for it. I sincerely appreciate the feedback, it helps motivation and encourages me to write more. Cheers!
@eileenbeach has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond. To be Resteemed to 4k+ followers and upvoted heavier send 0.25SBD to @minnowpond with your posts url as the memo
I need to do more research on iota :/
Go for it, you will not be disappointed ;)
@arthuradamson Really fantastic post.
Thanks man :) It was hard work but I enjoyed doing it.
I follow and upvote you.
Please upvote me.
https://steemit.com/created/sobai
Thanks for the detailed post! This is one I have not got into. I did not like the instant valuation when it came to coinmarketcap. Perhaps you can provide us with a more detailed research including links? Thanks in advance.
I plan on doing a number of post on IOTA. There is s much to tell that I decided to break it down into several posts so as to not overload the reader.
Watch this space-
Thanks for the feedback
I like your post. @arthuradamson I have followed you
I really appreciate this article and also that you dropped by. As a newbie I only have crumbs to give and appear to have run out of them but will come back to upvote in time xxx
Appreciate the feedback. Newbies are equally important on the Steemit platform, that was the initial spirit of the project
Nice blog👌👌👌
Cheers!!
@arthuradamson : I read it about I.O.T.A (Internet Of Things Awakens)
but paused, this opportunity but a little difficult. emm
thanks for sharing
Yes it is somewhat difficult to understand but is was Bitcoin when that came out and now everyone understands it. IOTA is the Bitcoin of the future, it is a golden opportunity.
Great post! Very intriguing indeed. Following!
Is there an IOTA chat on telegram?
Thanks for your hard work!
Thanx ;) and thanx for the follow.
IOTA is working on ways for chat but in the mean time you can follow them on twitter under IOTA of course.
Great, thanks!
did you know that you do not need the iota token to use it's ledger?
if you do what is the use case of the token?
The point of the token is to create an economy for machines as well as humans if we want. The token represents the information value.
so you think it's going to replace euro?
It will replace all fiat money one day
Investing in IOTA from last one month. Feels good to read such detail article on iota. Have also starting thinking on exploring the technical side of iota too.
Great!!
I know IOTA has gone down quite a lot this week but trust me, this is only temporary while this maddness with Bitcoin is going on.
IOTA is the one that will come to dominate the future.
I am buying some more today while the price is down.
Glad you liked the article, I am planning on writing many more. I am in direct contact with a guy who works with IOTA and so now and again I get snippets of information. I intend to keep IOTA owners well informed.
Cheers @beingsumit
This is what I keep trying to tell people! It's too bad I can't resteem an older article!
Thanks - well as long as the message gets out the that is the most important thing.