Money, Currency and the Internet of Everything

In addition to my own posts, I also write for CloudTweaks, an authority on cloud computing. Cloudtweaks is currently working with Cisco, who have released and exciting new thought leadership platform called InnovateThink. I have been asked to contribute some material to this project, and it is an honor to do so.

My fifth article focuses on money, or at least virtual money, which is not only representative of the Internet of Everything, it also promises also to play a major role in the way things are bought and paid for.

Here is an excerpt:

In terms of the Internet of Everything, virtual currencies such as BitCoin allow for a wider range of actions that traditional banks find too costly to touch, and who make too expensive to use, such as micro-transactions. These small purchases may be the equivalent of a couple of cents, and would allow consumers, or their IoE-enabled possessions, to pay a small fee for to access a single news story on a news website, for example, removing the need for banner ads and other old-school monetization techniques, and allowing a greater sense of pay-as-you-go-only-for-what-you-need.

BitCoin is not the only virtual currency out there. In fact there are many dozens, if not hundreds of virtual currencies vying for market attention. BitCoin is only the most famous of the bunch – for now. But together they represent change, and a significant move toward decentralization and virtualization, just as cloud technologies are doing with big data.

To read the full post, please visit CloudTweaks here.

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