In an era that predicts IoT and AI as the next big blockbusters to shake the core of the earth, the limitations of meddling with data analytics are innumerable and to most, unfathomable. Companies that are already too influential have kept their place, being the world’s leading powers in wielding complex data harvesting tools and AI tools to cater data, analyse it and produce beneficial insights from it. The ones that remain lack incentives to invest in collecting and storing open data that is mostly found by government agencies that are too slippery for the human eye to catch a glimpse of. Undoubtedly, centralized data analytics have been the way of the past decade.
One such area of concern is the environment. Humans over the years have been consistent in depleting the earth’s resources down to utter drought. In particular, we require a continuous supply of all sorts of commodities and thus, we go to unimaginable heights to achieve them, stripping away both naturally grown/fertilized and artificially enhanced crops as well as fisheries, water resources and even the air. On a steady rate, the human race will predictably be packing its bags to move to another planet. If you aren’t easily convinced by reading a few words, maybe a visual explanation will help. The Sci-fi hit, Passengers, depicts a similar premise.
The solution is not too complex. Data Analytics involve collection, storage and manipulation of data encompassing hidden truths about what we need and what we desire. Having access to that data is considered as a form of power even today. In the near future, those who can use the data to fruition will be sought after. Thus, environmental data must be accessible to all. Even the most dated technologies including blockchain, machine learning and sensors have not been able to concoct a platform that the masses can use to identify and tackle environmental challenges… until now!
Here to further the decentralization and democratization of Data Analytics is Flux. The newbie is a network that presents a decentralized space for collecting data, storing it and using intelligence to act accordingly to valuable statistics regarding the transient environment. Democratizing data not only involves access to open data but also provides a medium to share data on the network to benefit the community. Data harvestation requires tools that are deployed on the internet; Flux has provided access to these very tools, along with AI powered data analytics. According to their whitepaper, here’s why Flux is the need of the time:
- The global environmental monitoring market is forecasted to hit $19.56 billion by 2021 (growing annually at 7.7%), and the environmental data market is forecasted to hit $32.5 billion by 2019 (growing annually
- The big data and analytics as a market is expected to reach $200Bn at a blistering pace of 12% annually.
- Blockchain corroborates the decentralized usage and sharing of valuable data. Transactions are transparent and the demand for data can be realized and met.
- The number of IoT devices has increased 31% year-over-year to 8.4 billion in 2017. It is estimated that the number of IoT devices will increase to 30 billion by 2020, along with over 5 billion people projected to be online.
- AI and machine learning have become desirable, providing hidden insights and performing a multitude of tasks.
- All aforementioned technologies have subsequently collided to trump up, in abstract, platforms that can meet the demands of the earth and its needy population.
A multi-utility ERC20 token, FLUX will incentivize the sharing of data and the adoption of the platform. This means users will be rewarded on the basis of contribution towards data collection and storage. Eventually, FLUX’s utility will shift towards monetizing the FLUX token in a way that tokens will be required for premium usage of the platform.
But first, Flux is giving heed to:
- Data Collection. Rewarding FLUX tokens to users who contribute and accumulate data through verified sensors to add to the network for public use.
- Data Storage. Users will eventually receive recurring payments after maintaining their Space Portals (storages) for 30 days.
- Hardware Adoption. Discounts will be given to users who purchase required hardware devices in FLUX. Main sale buyers will automatically be eligible for these vouchers.
- Spending the FLUX token. Software Developer Kits, Discounted MICO sensors, Eddy and Space Portal Hardware Kits and obtaining premium agricultural insights are some of the ways users can use this digital asset.
MICO and Eddy Growbot
MICO sensors are the central piece of hardware tech revolving around the flux protocol that can be used for data harvestation. The API used is open source, ensuring decentralization. Its mesh capabilities allow the device to upload/grab data from linked MICO devices in its proximity.
A glimpse of Flux’s IoT ecosystem, the Eddy Growbot is a device powered by MICO sensors, that acts like a sensor and provides the ultimate regime for successful and maximal plant growth. The IoT sensor can provide pH, acidity and moisture levels to users after being submerged in water circumventing plants.
Fits Like a Glove!
The opportunities in the market for a platform such as FLUX are abundant. Agriculture remains a prime authority over the human race, providing jobs, food, and natural habitat. Due to this, preservation of traditional agriculture as well as experimentation of the less known is crucial. Agriculture extends to a total of $3 trillion in the market with FLUX potentially altering the statistic.
The Proof of Impact is an extension of what FLUX has in store. It proposes equal distribution of the technology and its benefits to all of humanity. FLUX has allocated 8% of its token supply to directly empower marginalized individuals around the globe and fund Proof of Impact initiatives in partnership with impact organizations. The end game requires millions of farmers to be ushered out of poverty. Now, small-scale independent farmers may also have access to data, insights and economies of scale. FLUX is hard at work to organize donation based drives to revolutionize farms by introducing technologies that can sustain resources and provide better yield.
Last but not least, this roadmap is a clear indication of their targets for the years to come. Just recently, Flux CEO, Blake Burris, announced an addition to their advisory with David F Bailey, CEO of BTC INC. It’s not hard to foresee how bright this addition is for FLUX’s debut.
In summation, FLUX is an ingenious amalgam of groundbreaking technologies, guaranteed to pop up in your daily news feeds in the months to come. Why? Because data is the key to the future, and FLUX knows it. Go and check out the live pre-sale on their website!