MXC Foundation, a Berlin-based startup creating the data transmission infrastructure for tomorrow’s cities, is to launch a Polkadot parachain. In 2021, the project’s efforts to support IoT and smart urban design will receive a boost when its parachain launches, connecting MXC to the world’s leading smart contract blockchain for interoperability.
Once MXC has integrated with Polkadot, it will be able to press ahead with delivering its vision of a smart grid populated by millions of devices including sensors connected to cars, public transport, supply chain, and other key infrastructure. MXC has made significant progress already in brokering deals with the Shanghai Yang-pu government and across South Korea, where smart cities will be equipped with its tokenized technology for data transmission, energy metering, and payments.
Big Data Gets a Big Boost Following Polkadot Partnership
Big data is only going to get bigger over the next decade as the number of internet-connected devices proliferates. Much of the new devices coming online won’t be smartphones and printers, controlled by humans, but will be automated sensors and other smart tech designed to relay information concerning temperature, movement, altitude and suchlike in real-time.
When MXC sprang to life in 2017, it was with the goal of delivering many of these capabilities. The project is seeking to make data tradable, providing a means for businesses to monetize the data they’re collecting from billions of IoT devices and sensors. It’s also aiming to facilitate micropayments for extremely small data packets. This ability could also prove instrumental in enabling, say, driverless cars to bill passengers per meter traveled, or for the precise quantity of energy that homeowners have generated or consumed.
Joining the Dots to Create an Interconnected Ecosystem
Polkadot is a fitting candidate for MXC to pursue its smart city aspirations and vice-versa. The crypto network, also founded in 2017, and led by Gavin Wood, is determined to engineer a fully interoperable ecosystem in which data and value can be freely transferred across networks. Polkadot is well on course to deliver this promise within a crypto context, having made significant strides in connecting its series of parachains with extant blockchains such as Bitcoin and Ethereum.
To take the next step, however, and deliver interoperability in the real world – i.e everything that occurs offchain – it requires the help of projects like MXC that are pursuing this endgame. The same principles that govern the interoperable design of Polkadot apply to that of smart cities. In a world where urban environments are packed with sensors and devices relaying trillions of transactions, and controlling a vast array of interconnected networks, it’s imperative that each of these components can freely communicate with one another.
Enter MXC and its native MXC token, which powers the ecosystem it’s building. With confirmation of a highly sought parachain under its belt, MXC is now poised to deliver on the roadmap it drew up three years ago, connecting high tech cities in which data flows as freely as water.