AKITA Blockchain Solutions Presents IOTA Payment Prototype

Akita blockchain solutions have presented a new IOTA payment module prototype that can be used by companies and other entities to develop use cases in the field of machine economics. This new prototype already got an award as a project of the week by the IOTA foundation as we are about to read further in the IOTA news.

The IOTA community project of the week was Akita blockchain solutions for the new payment solution. The future of the industry lies in machines that will pay for their own work and in the automated interaction between the machines as well. According to the developers at AKITA Blockchain solutions, wind farms, for example, could be paid for production and delivery of energy by the consumers that will also be a machine eventually. The tax payments could also be triggered automatically as AKITA developed a new prototype using basic technology.

The vision of the machine economy will eventually become the reality with the IOTA distributed ledger technology. So the AKITA developers developed a new prototype for this purpose which can be replicated with a beginner and intermediate level which shows how the IOTA technology can affect ‘’business processes, transaction costs and speed and even process automation.’’ As per their announcement, we can read that:

‘’In this simple portable prototype, a robot starts working as soon as he receives payment to its own dedicated machine “bank” account, it requires energy to do the work, that’s why it pays the wind energy supplier, triggering an automated % tax payment to the government.’’

The goal of the prototype is to demystify the Distributed Ledger Technology which is often seen as complicated so there are now detailed instructions that were published on how to reproduce the prototype. Companies and even universities can rebuild this prototype and modify it since now the instructions, hardware and code open source are published. The only software required is the Raspberry Pi Raspbian, Node.js, and the IOTA Tangle explorer. It also ensures that all necessary functions and connections to the IOTA Tangle are set up right after installation and do not have to be installed one by one.

The AKITA model handles the address generation for incoming payments while the module is connected to the IOTA Tangle through the AKITA machine node.
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