At the last IOTA VR Meetup, a prototype was presented for packstation, which transfers significant order data between the different actors within a decentralized, open-source trading place, according to Crypto News Flash website.
IOTA is already used in several countries, such as Trondheim, to apply the concept of Smart City. The city administration will serve as a live lab for testing the possibilities of IOTA.
The move reflects the company’s keenness to make people’s daily life easier especially at the time of coronavirus (Covid-19). In the Smart City, several operations are being automated so the epidemic could not weigh people’s life.
Although this is a prototype at the moment, this use case demonstrates how to use tangle as a distributed ledger to manage critical data on local transactions, products and orders in an open trading market.
The service covers a small part of the ecosystem that needs to be developed to serve the whole supply chain process.
The packstation is part of research into a decentralized platform to boost the local economy “The Nile”. The project allows people to make use of local community’s power to avoid getting lost in these highly competitive ecosystems.
IOTA to launch Deposy prototype to in late 2020
IOTA Deposy is a promising project based on IOTA. Developers of the BIOTA project plan to solve the problem of recycling the plastic waste. They also developed an IOTA-based innovative deposit system.
The Deposy team stated that more than 50 percent of the plastic waste is burnt in Germany as producing plastic materials is cheaper than reusing the recycled waste. The use of Deposy could significantly decrease CO2 emissions:
In a blog post, the team stated:
“With recycled plastic, 2.5 – 4 t less CO2 emissions are produced per tonne of plastic compared to a waste incineration plant. With a plastic waste volume of 0.52 million t per year (in Germany), which is estimated to be accessible for the Deposy deposit system, the system could, according to own calculations, contribute to saving 1.3 – 2 million t of CO2.”