IoTeX, a privacy-focused platform for the Internet of Things has released its latest product, introducing the concept of a smartphone’s trusted execution environment with real-world data to the crypto space. Pebble Tracker empowers the users to own data, bears the capability of recording and encrypting data from the physical world. The product comes with ample features, including the feature to capture data including location, temperature, air quality, motion, light levels. The device then records it securely for blockchain applications.
Larry Pang, commenting on the IoTeX’s project says that it uses “verifiable GPS data to mint NFTs that prove you were at a certain place at a certain time.”
Pebble Tracker x Real World Data Mining — are you ready for the next evolution of Web3-IoT? • 111 Backers from 20+ countries • Pioneer Tier is SOLD OUT! • Early Bird Tier – 50 claimed, 50 left 🤖 Join the revolution: https://t.co/cYsITFoag3@iotex_io $IOTX pic.twitter.com/vLg4az2InT — larry.png (@larrypang) March 16, 2021
The technology allows the users and third parties to verify the authenticity of the data, to be an effective tracker for the frontline workers, as healthcare providers will be able to verify the temperature of COVID-19 vaccines for the duration of their journey from manufacturer to injection. The device also provides an innovative use case to incorporate real-world data to NFTs.
On comparing IoTeX’s “Pebble Go” project to the Pokemon Go smartphone game, Pang said the tech can’t easily copy locations, which was very common in the Pokemon Go game. Also, on the other hand, the new project attains limitations as it is not applicable to Jack Dorsey’s tokenized tweet. The project can be applied to digital collectibles issued at games, where the location can be verified and minted. As the NFT space is exploding in quantity and value, the demand for quality in terms of additional verification and data may rise.
This technology can be used to absolutely verify the proof of presence of a person.
He further added:
A lot of the use cases of NFTs are about clout — ‘I have this, I’m the owner of it’ — even though you can see this JPG on the internet. The next step for NFTs is not to prove you have reputation that’s transitive from someone else but if you have reputation that says ‘I have a collection of NFTs that were only mintable under verifiable conditions.’
Commenting on the model’s credibility, Pang said:
If we didn’t have this kind of model, then at every checkpoint there would need to be a group of validators that validate that this data is correct. It’s a level of verifiability that really connects the physical and digital world in a new way.