It has been reported that governments and companies utilize customer and user data for a vast array of purposes and this has placed added emphasis on how data is collected, priced and of course, there are also privacy concerns regarding how personal data is obtained.
However, there are, currently, several blockchain projects focused on organizing data and enabling users to have more control over what data they elect to share, and monetizing some of the profits generated from data collection.
The report said that the project aims to solve the issues of scalability, privacy, and the high operating costs currently limiting the mass adoption of the Internet of Things (IoT) ecosystem.
Cointelegraph Markets and TradingView shows that the price of IOTX has rallied 300% since February 1 as the price rose from $0.011 to a new all-time high of $0.0443 on March 10 when its trading volume surged by 130%. A scroll through the IoTeX Twitter feed shows that project members have been hard at work finding projects and communities to integrate with in order to facilitate the expansion of the IoTeX ecosystem.
Likewise, the month of March got off to a hot start for the protocol when the project was listed on the PancakeSwap (CAKE) DeFi protocol. This enabled IOTX trading on the Binance Smart Chain along with the Ethereum (ETH) network, and plans to integrate with Polkadot (DOT) are already underway.
Wow! Come to join $IOTX LP on @PancakeSwap and earn $CAKE! It's just the start, more exciting cross-chain DEFI with @BinanceChain is coming! 💰Luckydraw to win total 10000 $IOTX! 1 Fo @iotex_io @PancakeSwap 2 Like&RT&Tag 3 friends 3 Fill form👉 https://t.co/4uzMA6xsYE pic.twitter.com/sOYHXBdr5i — IoTeX (@iotex_io) March 1, 2021
On March 2, the team announced that it had joined the Amazon Web Services (AWS) Partner Network and also with AWS China as a way to improve its Ucam and Pebble Tracker technologies. Several other minor partnerships were announced over the next few days and then on March 7 it was revealed that IoTeX partnered with Unifi Protocol and provided the project with a development grant to “ensure IoTeX users will have access to a secure, reliable, and on-chain DeFi solution.”
IoTeX has joined the @AWScloud Partner Network and is partnering w/ AWS China to enhance Ucam operations! IoTeX x AWS will enable new backend + IoT services for Pebble Tracker, as well as make IoTeX Pantheon available to AWS builders. ➡️ https://t.co/AeXUSnhEMq cont'd 👇 $IOTX — IoTeX (@iotex_io) March 3, 2021
Thus, projects like IoTeX which utilize blockchain technology to securely track, record, and transact data are well-positioned to see further growth and adoption as digitization and the Internet of Things continue to permeate all facets of society.