Anyone who’s a keener with the all the workings of the digital world will be familiar with the acronym IoT and the fact it stands for the Internet of Things. We’ll go ahead and assume you’re one of them if you’re a regular here and reading our blog entries with any degree of regularity. It never takes long for major technological infrastructure developments to branch off into subsets of the original, and that’s exactly with the newfound EoT - Economy of Things – and the way this new level of interconnectivity is set to revolutionize the online business world is quite something. Much of what makes this practical and appealing at the same time is that people will always want to have straightest distance between two points available to them when it comes to completing transactions for services / goods obtained. The IoT certainly has much more of a relation to services than goods, but when you think about all of the services we take advantage of on a regular basis it makes sense that implementing web-based tech to simplify transaction processes is going to be to most people’s liking. And this makes sense to us here at 4GoodHosting in the way it would for any good Canadian web hosting provider too. We are likely to see a lot of inroads made in between the EoT and SaaS and PaaS services / products as well, and we are certainly just seeing the tip of the iceberg with where this is going to go and how far-reaching this is going to be. So we’re going to look at how much inter-device trading is expected over the course of the remainder of this decade here with this blog entry. Intersections for Data and Money The expectation is that by the end of the 2020s, around 3.3 billion Internet-connected devices (IoT devices) will be taking money and data and trading directly between them. The same calculations that came to that are saying that for 2024 the number will be 88 million devices participating in EoT and so it puts into perspective how much this is going to grow explosively over the next 6...
