Additional incentives for the development of Bpay.ioInternet of Things

The market of IoT gadgets, for example, has great prospects. The Internet of Things (IoT) is a combination of physical items, gadgets and devices based on integrated technologies interacting with each other or with the environment (primarily human interaction). As for the nancial market, IoT presents interest in terms of progress that the researchers presently demonstrate with regard to high-tech gadgets, which will have access to certain accounts when making payments through smart contracts. A coee machine, which just ran out of coee, can be a simple example to case. The system integrated in the machine captures the fact that there is an absence of a certain product (coee in our case) and thus orders a new pack, makes a non-cash payment at the moment it is relled

Having thoroughly studied the IoT market Hewlett Packard Enterprise (HPE) presented an extensive research (11) in September 2017, covering multiple aspects of IoT. According to the data provided by HPE, nearly 57 % of all medium and large enterprises of the world have already integrated various types of IoT technologies in their operations. By 2019 the number of these companies will grow up to 85%, whereby 88% of business representatives and owners already using these technologies note fast return on investment of all kinds of integrated IoT projects. 78% of respondents note that the newest technologies have increased transparency and ability to control the working processes. Most often businesses use smart Internet solutions in HVAC (heating, ventilation and air conditioning) and lighting systems (noted by 56% of the respondents) and in the niche of personal mobile devices (noted by 51% of the respondents).

According to the research (12) conducted by Data Corporation (IDC), which is an international research and consulting company, the overall expenses of the majority of companies have increased by 17%. By 2021 the volume of investments into equipment, software and communication networks will reach up to 1.4 billion dollars. Among the main areas of investments into IoT specialists point out various industrial productions, transportation and utilities. Businesses also pay a great deal of attention to advanced technologies associated with the equipment of smart buildings, as well as smart systems of energy, water and gas supply.

Digital economy

The growth of digital economy triggers swift development of cryptocurrency systems.

Despite seemingly negative trends (such as banning of ICO in China and Southern Korea) on a large
scale most of the developed national states are on the lookout for the cryptocurrency market. In
Japan, for example, cryptocurrencies de-facto have a status of currencies, so that people can use
bitcoins to pay for goods or services.

Even the simplest facts presented in gures speak to the positive future of blockchain. At present
there’s about a thousand of cryptocurrencies in the world (unfortunately, the exact number is
unknown, since the market situation is changing literally every day).

The total value of the Forex market is estimated by experts to be $5 trillion, while the value of the
cryptocurrency market according to certain estimations(13) reaches $500 billion (with average monthly
growth by 3%).

Many experts note that the investors still do not completely and seriously realize the prospects of
cryptocurrencies. According (14) to John Mattison - the former executive director of the Bitcoin Foundation,
many private investors will ignore bitcoin until its cost exceeds 10.000 USD. It should be mentioned
that according to estimations (15) of those who have already invested into cryptocurrencies,
this threshold is pretty much attainable in the upcoming 8-10 months.
Ray Youssef – the CEO of Paxful project is very enthusiastic about the future of cryptocurrencies. In this
light he points at a number of challenges in the purchase of tokens and options as to how they can be
used in everyday life of an ordinary person. First and foremost this has to do with underdeveloped
infrastructure, especially in the states and regions where the banking system is not strongly developed
up to this day. Youssef believes that the situation can be xed by the creation of top-quality,
user-friendly apps, operating in the system of P2P interaction.

Tim Frost – the founder and permanent leader of Taurus Vision, shares this opinion. He also claims that
bitcoin helps avoiding losses and risks, associated with national currencies.

It’s interesting to know that presently the risks, associated with duciary money are discussed by
young people, who have already realized the benets of cryptocurrencies.

According to the research (16), carried out by the joint eorts of MasterCard and Facebook, the overwhelming
majority of youth (92%) has little trust in the existing banking system, opting for advanced
ntech-solutions in day-to-day life.
With this regard it can be stated that the technologies, that give ordinary people a chance to use
tokens in their everyday life, will set the wheels of the development of cryptocurrencies. Thus we will
embark on a new era of digital Eden once ordinary people get a chance to pay bitcoins in supermarkets,
private shops and markets.
We present to consideration the blockchain technology, which draws this time closer and closer.