The Moeco platform is intended to let IoT users to connect to a global network of integrated IoT cells and to create their own cells in order to become in-house service providers. Exonum, Bitfury’s new protocol, will allow the Moeco platform to move, manage and store data.
The idea is to crowdsource IoT connectivity. It results in natural motivation for every participant - IoT device owners get decreased maintenance costs and lower initial investments; gateway owners receive reward for transferring data from IoT devices. So it's like Uber - we need to make sure that IoT data is being delivered securely to the correct destinations (the taxis) and that gateways are being paid (the drivers).
Co-Founder and CEO, Bitfure
Despite Moeco works on bluetooth, it is planned to be established in a decentralized way by utilizing benefits of the Blockchain technology. Therefore, any smartphone might be a mobile gateway that collects data from the hybrid Bluetooth sensors nearby. At the same time, smartphone app owners can then get revenue for transmitting data from the sensor to the cloud.