IOTA and Ripple are in a healthy undeclared competition changing the society of tomorrow. The business competition between the two is suitable for end-users. The society gets to have more of futuristic projects that are advantageous. As somebody rightly remarked, “Future-oriented disciplines and advance adaptation of crypto-currency through innovation.”
Both XRP and IOTA serve as an alternative means of payment to fiat money; however, they have far-reaching applications.
Ripple has released a fully autonomous electrical relay board, which can be switched on and off with XRP payments. The Electric Relay Board from Alloy Networks and Zaphod Standard Hub have an XRP token display. The display shows the current account balance of XRP received.
The product is so easy to configure that anyone without technical knowledge will be able to configure and set it up. The relay board had an XRP receiver address. The sooner the XRP is received, the device switches off automatically.
There is a unique DT or X address for each board. Each of them gets controlled individually. The applications get configured for a wide range of operations. There is more to do than just switching electronic devices off and on. Using the facility, it will be easy to operate a vending machine. The company is planning to introduce more functions facilitating several other purposes.
The prospective function next is to facilitate automated collection and forwarding of donations. Thus, collecting contributions from different sources gets very easy, and the funds can get forwarded to appropriate agencies. The project is about the vending machine use case for XRP. There is already a parallel concept from IOTA. The similarity between XRP and IOTA makes us wonder if both are competing.
Previously, IOTA presented their futuristic vending machines at the consumer electronics show in Las Vegas at CES 2020. IOTA enables autonomous payments between different electronic devices.
BillLabs Tweeted: “Visit our partner
#Yallvend booth at#CES2020 LVCC South Hall 63000. They will demonstrate#SmartVendingMachine using#BiiLabs#IOTA enabled#DID authentication.”
On January 06, 2020, a twitter enthusiast Imanchu tweeted: “
#CES2020 LVCC, South Hall 63000 Come to have a drink with your#IOTA.”
IOTA vending machine facilitates restricting products by age when it comes to selling products through unmanned vending machines. Bill Labs makes use of IOTA (DIDs)- decentralized identification technology to provide reliable and secure ID authentication at vending machines.
It is immensely beneficial for the retail market. We hope to see more than Drinks from Ripple and IOTA.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
Get the latest Crypto & Blockchain News in your inbox.
Join Now