Leroy Hofer is the Austrian entrepreneur CEO of Teneo Protocol. He completed business school with a focus on business economics and communication. After university, Hofer ventured into the startup industry, gaining invaluable experience. His active involvement in the cryptocurrency sector have honed his skills in business strategy and development.
Over the past decades, machine data has emerged as one of the world’s most valuable assets. From manufacturing and agriculture to transportation and healthcare, the data generated by machines is driving innovation and efficiency. Yet, despite its immense value, 99% of this data remains trapped in silos, inaccessible and underutilized., effectively turning real world assets into digital tokens that can be traded, owned and utilized on-chain.
Tokenizing machine data and bringing it on-chain is the next logical step in the evolution of DePIN. Imagine a data pool with machine data from public EV charging stations, each collecting data on charging power, the battery level of the EVs in the surrounding area or the current energy grid utilization.
However, the transition to a fully integrated Web3 ecosystem is not without challenges. One of the primary hurdles is the need for robust infrastructure to support the secure and efficient transfer of data. This requires advancements in both blockchain technology and the underlying hardware. Despite these challenges, the benefits of integrating machine data into web3 far outweigh the obstacles. As more industries recognize the value of tokenizing their assets and leveraging blockchain technology, we can expect to see a significant shift towards more decentralized and efficient systems.
So can machine data change Web3? Absolutely! This new era of Web3, powered by DePIN, will unlock unprecedented opportunities for innovation, growth and collaboration. And it’s gettingNote: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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