The following is a guest post from Olivier Acuna.
Two leading tech firms co-authored an Industrial IoT Consortium (IIC) article introducing the machine economy, a new IoT digital transformation frontier that, according to PwC, will contribute to 70% of the global Gross Domestic Product (GDP) in the next seven years.
In a convergence of artificial intelligence and blockchain technology, the machine economy could contribute up to $15 trillion to the global economy by 2030, a PwC report said.
The Research conducted by IoTeX and Siemens explores why IoT and distributed ledger technology (DLT), such as blockchain, will enable machine economy growth and unlock new opportunities for IoT manufacturers and end-users.
The report also describes some of the disruptive business models that the industry is witnessing and highlights implementation examples. It quotes a Next Big Thing AG study that defines the machine…