"The potential of a real sharing economy really can only be occurred through tokenization." - Jeffrey Wernick
LPWAN gateways using the MXProtocol (Machine eXchange Protocol) can share network access to third-party sensors. This creates a sharing economy, allowing sensors to pay some MXC (Machine eXchange Coin) to send end-to-end encrypted data through another person’s LPWAN gateway.
MXProtocol navigates the payment process using Smart Bidding. Owners of LPWAN sensors can program the sensor to bid for network access based on the reliability of the network they require. For high priority sensors, for example, those that open doors, a higher quality network is needed, and therefore they are likely to pay more MXC for consistent network access.
Sensors measuring the trash level in public bins represent low priority sensors and do not require consistent network access. Therefore they are likely to bid less MXC for access. IoT payment systems today require some form of human interaction; whether it is to measure usage and send a bill, or to pay that bill. This entire bidding and payment process is managed through machine-to-machine (M2M) transactions.
The sharing economy enabled by MXC is the foundation for a decentralized wireless network. By combining it with the power of the LPWAN, the MXC Foundation places the future of wireless IoT transmissions, and the related profits, firmly in the hands of the individuals and companies building an MXProtocol enabled LPWAN network. This sharing economy is expanded with the interchain data market to include ownership and sale of data.