IOTA Future Proof is a series of Webinars which shows how the Internet of Things and Distributed Ledger Technologies are capable of enabling new methods of doing business.  At the end of each Webinar, the experts answer the questions asked in the chat.

At the IOTA foundation, they are specialists when it comes to using new technology to transform industries today. 

Domnick Schnieder is one of the co-founders of IOTA. He has been deeply involved in distributed ledger technologies.  His focus is to drive real-world adoption of IOTA.

Domnick Schnieder clarifies anytime; a new technology is introduced, we need to ask our self why is this problem needed and what problem does this solve. The series of Webinars, he states are launched with a hope that it will inspire new ideas to help investors understand how the internet of things and distributed ledger technology can enable new business.

Sydney Ifergan, the crypto expert, tweeted:  “IOTA Future Proof Webinar Series is a good move.  It is information overload in the blockchain space, and it is good to put things on Webinar so that new entrants catch up with the technology at their pace.”

IOTA (MIOTA) Domnick Schnieder on DLT and IoT

DLTs are very novel, and new technologies, and they are also introducing very novel and new socio-economic principles.

The focus of IOTA is to combine the physical with the digital layer. Combining the Internet of things with the distributed ledger like the IOTA technology. IOTA is necessary for the internet of things.

The Internet of things is one of the fastest to be adopted technologies.

Domnick Schnieder provides the Kitchen in households as an analogy to the Internet of Things. He requires thinking about Kitchen 10 to 5 years ago. He stated that none of the appliances were able to send data or connect to the internet.  He puts the users to thinking in how today the kitchen devices are all connected to IoT devices that are really making our lives easier by automating those mundane processes and by enhancing our experiences within the kitchen.

An example, he further states is the smart Samsung Fridge, where we can see the fill status of certain items.  And, when we go shopping, we can really know what to buy and what not to buy. Or, we have a smart thermostat that can automatically adapt itself to the environment and change the temperature as needed. Or, we have our Alexa smart home device that really helps us to automate these processes while cooking and just controlling our entire household via the voice system. And everything is so inter-connected when they have similar protocols.

He further clarified that all of these technological innovations are facilitated at the cost of privacy and at the cost of security. When it comes to privacy with the introduction of GDPR, we have become more aware that today one of the most valuable resources out there and that it is also one of the valuable resources out there that we need to protect. Security in IoT is also a much bigger problem