The future is moving towards a world that’s reliant on intelligent machines that will unlock a multi-dollar economy. A recent McKinsey report stated that with 100 billion machines coming by 2030, they will soon become our world’s future workforce, and this workforce will generate up to USD 12.6 trillion in value. On the other hand, Techjury has estimated that more than 125 billion devices will be connected to the Internet at the initial stage of the next decade, thus powering the machine economy.
Machines are gradually becoming the driver of economic growth. There is already a paradigm happening in the blockchain and crypto space: With the decentralization of everything, what lies ahead is a trillion-dollar machine base economy with endless opportunities and a focus on smart and connected IoT devices.
It’s difficult at the moment to imagine a blockchain future as its future is a “riddle wrapped in a mystery inside an enigma.” We are at the initial stages of connecting the pieces of this decentralized digital and physical universe that has taken birth.
This is where MachineFi comes in. It represents the intersection of smart devices and finances, just as DeF is for Decentralized Finance. It brings together machine resources and intelligence that can be financialized to deliver value and ownership to the people, not centralized corporations.
MachineFi bridges the gap between today’s decentralized world, a world brimming with potential but lacking in experience, and one where machines are an integral part of people’s economic lives.
Blockchain decentralization and finance form the foundations of MachineFi and play a major role in establishing the term. MachineFi upends the traditional centralized finance model and grants individuals and their devices financial sovereignty.
MachineFi ties machines together that enables exchange of information and resources in real-time. It can also be marked as a combination of machine and Defi monetizing machine-driven data, events, and tasks, building a way for a trillion-dollar opportunity in the Metaverse and Web 3.0.
The new technology aims to transition traditional IoT and machine verticals into MachineFi decentralized applications (Dapps), enabling millions of users to participate in the machine economy with billions of smart devices.
Machines are the major components of a physically connected world. It can be very well used to capture information and supply it to the Metaverse, encouraging Defi, NFT, gaming, and social media applications.
The idea behind MachineFi is to make money from smart devices by providing people with financial services. This can be made possible as there are two trends in play right now – first, an explosion of IoT connected devices, and second the emergence of blockchain technology.
MachineFi role in business
When it comes to MachineFi, it is quite different. Companies that are making headlines today are not inclined to remain intact with the world’s status quo; they are more inclined to break it. Entrepreneurs, investors, and developers can reap outsized benefits. Also, these people are trying to put in greater efforts to make peoples’ lives meaningfully better through technology.
It is not always possible to work in a fast-moving and profitable industry while creating something that would be acceptable to everyone. It is something rare to find, so for sure, MachineFi will mark fast job growth in the business sector.
There were times, a few decades ago, when the Internet was just discovered, many dreamers imagined a future world that looked a lot like the current one. But those whom we remember today as pioneers are the ones who took the Internet from one major adoption milestone to the next. This shows our potential with decentralized technology, connected devices, and financial opportunities and algorithms. And this is what MachineFi holds for the future.